A16z-backed fintech Tally shuts 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