US fintech Tally to shut down after failing to secure “necessary funding” to continue operations

Shutdown Announcement:
- Tally, a US-based fintech start-up, is shutting down due to its inability to secure necessary funding to continue operations.
- The decision was announced by founder and CEO Jason Brown via LinkedIn.
Funding Challenges:
- Despite exploring all options, Tally was unable to raise the required funding.
- The company had previously raised $80 million in a Series D funding round in 2022, bringing its total funding to $172 million and a valuation of $855 million.
Company Background:
- Founded in 2015 and headquartered in San Francisco, Tally developed an automated debt management platform designed to help individuals manage and pay off credit card debt.
- The platform offered services like automated credit card management, a line of credit, debt management, and late fee protection.
Impact and Future:
- Tally had 183 employees at the time of the shutdown.
- Brown expressed hope that Tally’s mission to provide financial tools for debt management would inspire others and lead to new innovations in the field.
Final Note:
- FinTech Futures has reached out to Tally for additional information on the closure.