Another teen focused fintech shutdown

- 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/)

- Fampay raised $38 million in 2021, targeting teens under 18, but struggled due to weak business fundamentals. - The fintech firm faced a major setback when IDFC Bank ceased its payments partnership in February 2023, leading to a loss of users and financial instability. - In March 2023, Fampay pivoted to a UPI-focused app, but still reported significant losses, with Rs 120 crore lost in FY23. - Despite entering the top 10 UPI-based payment apps, Fampay's financial woes continued, with mounting expenditures and a high burn rate. - The company's future may hinge on a potential selloff, as it struggles to sustain momentum in the competitive fintech landscape. Source: [Entrackr](https://entrackr.com/2024/08/how-fampays-rs-200-cr-bet-on-fintech-for-teenagers-fell-flat/)

Given what RBI has gone today is effectively shut down 60-70% of Paytm’s business, to survive, Paytm will end up doing mass layoffs of a scale that we haven’t seen before in India. And potentially with limited severance (not as generous as what swiggy or Big tech has been doing) What would this mean for the rest of job market? So much unemployment in high earning folks, limited new jobs, means very tough competition for each opening and extremely bad situation in terms of appraisals and hikes too.

Dunzo Taskmo Frontrow

The Startup that you had an offer from but did not join, and then it went big? (Let's take a word from VCs, how they like to use anti portfolio lists on their sites - cos they got an opportunity to enter but missed)

question based on latest morning context article

Investors are pulling the plug. The startup is winding down. Chaotic scenes inside.

Another startup that could have been something had it not been for the bull market and Tiger investing unnecessarily. Over $66Mn raised, and now it's over.

Do you guys agree with the list? Anymore candidates

VC here. Doing this for fun. Don't take all views seriously.