US consumer fintech Tally is shutting down :(

- 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/)

https://entrackr.com/2023/09/exclusive-y-combinator-backed-akudo-to-shut-down-ops/?s=09 What is the reason fampay is facing the problem and akudo got shut down what is the reason?

From CRED to PhonePe to all others, are you guys seeing your company making any money or path to profitability? Zerodha guys, please don’t talk 🙅‍♂️

Kunal Shah’s first startup Freecharge was a disaster for everyone except early investors and himself. Freecharge failed the test of time and miserably folded while Kunal Shah became the gyaan king of Indian startup ecosystem. What would happen if Cred also folds which is quite a possibility? I guess that will be the irreversible bubble burst for Indian startup ecosystem. Thoughts?

After the recent RBI mandate to banks and NBFCs against unsecured personal loans, the lenders have pulled back their hands from digital lending. My company has already started facing the impact. Tomorrow onwards we won't be able to disburse any new loans from our platform because the lender is unsure of the road ahead. Personally, I can't afford to go through another layoff this year :')

How are Indian startups performing in credit cards? Haven’t heard much noise lately from any of them Uni, Slice, Scapia, Kiwi everyone seems to be cooling down at this point. Last couple of quarters all were pushing a lot in marketing and onboarding.

I fail to understand why people hold cred in such high regard. So much promise, so much advertising, yet no real value for the customer. Their UI is a mess honestly. Takes so much effort to navigate that hell of a musuem that mr shah has built to masturbate upon. They started as a company that helped people pay credit card bills, now asking the same people to do UPI with “assured” cashback “upto” gimmicks. Ending up making india’s top 1 percent population play stupid arcade games to win a mind boggling 1 rs. 👏👏👏 Cred store doesn’t draw any value any more. The much advertised cred garage failed miserably. Why the hell and what the hell are they for? No real value man. They take so so much information from us. And li tell make no value for the user. Bhai kam se kam ek bhadiya credit card hi bata do spends analyse karke jisse logon ke thode zyada paise bach jayein.

Cred is truly a topic of surprise for me. Yes, I understand it has created a community of top spenders/credit worthy people in India. I also understand that they can use the information on such people for creating value for themselves. Being a cred user, I only use it to pay the bills. I really wonder if they have built any b2b business or alternative source of income beyond what's seen to the end user. What's the game plan for the cred? I also applaud the fact that cred hasn't laid off people having paid them better than most companies. I really wonder if the business is really that strong or the conviction is. Would you join cred if given a chance to work there?