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- 📝 Tally closes after $172M in funding
📝 Tally closes after $172M in funding
Liam Gill
August 14, 2024
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Tally, a nine-year-old fintech that helped consumers manage and pay off credit card debt, has shut down after failing to secure the necessary funding. Founder and CEO Jason Brown announced the closure on LinkedIn, describing it as a "sad and difficult" decision. Despite raising $172 million in funding and being valued at $855 million, the company struggled financially. Tally initially provided a service to help consumers manage credit card debt with lower-interest loans but pivoted to a B2B model in April. The company had 183 employees at the time of its closure.
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It is possible to raise at too high a valuation.
I know firsthand that this can kill your company. Make sure to raise at a fair valuation that will allow you to continue growing and attracting investors in future.
— Liam Gill (@LawyerLiam)
9:00 PM • Aug 11, 2024
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