CosmicTaco

A16z-backed fintech Tally shuts down after running out of cash

CosmicTaco · 2024-08-13T11:50:23.987553+05:30

- Tally, a nine-year-old fintech, has shut down after running out of cash, according to a LinkedIn post by founder and CEO Jason Brown. - The company, which helped consumers manage and pay off credit card debt, was unable to secure the necessary funding to continue operations. - Tally was last valued at $855 million and had 183 employees, according to PitchBook. - In April, Tally announced it would be sunsetting its consumer app and shifting to a B2B model, but never followed up with details on its launch partner. - Founded in 2015, Tally raised $172 million in funding, with notable investors including Andreessen Horowitz, Kleiner Perkins, and Sway Ventures. Source: [Techcrunch](https://techcrunch.com/2024/08/12/a16z-backed-fintech-tally-which-raised-172m-in-funding-is-shutting-down-after-running-out-of-cash/)

Tally, a nine-year-old fintech, has shut down after running out of cash, according to a LinkedIn post by founder and CEO Jason Brown.
The company, which helped consumers manage and pay off credit card debt, was unable to secure the necessary funding to continue operations.
Tally was last valued at $855 million and had 183 employees, according to PitchBook.
In April, Tally announced it would be sunsetting its consumer app and shifting to a B2B model, but never followed up with details on its launch partner.
Founded in 2015, Tally raised $172 million in funding, with notable investors including Andreessen Horowitz, Kleiner Perkins, and Sway Ventures.

Source: Techcrunch

16mo ago