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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

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by ZoomyDonutInvestor

US consumer fintech Tally is shutting down :(

They'd raised $170M - Their model was to manage peoples credit cards and then pay off high APR credit card debt by taking on a lower interest loan through Tally, a better debt consolidator.

What does this say about Indian startups like ...

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