a16z-backed fintech Tally, which raised $172M in funding, is shutting down after running out of cash

Exclusive: a16z-backed fintech Tally, which raised $170M in funding, is shutting down after running out of cash

Tally, a nine-year-old fintech that helped consumers manage and pay off their credit card debt, has shut down, according to the company.

In a LinkedIn post that was shared earlier Monday, founder and CEO Jason Brown said the “sad and difficult” decision to close down Tally was not the outcome the company had “hoped for,” but that “after exploring all options,” it was “unable to secure the necessary funding to continue our operations.” According to PitchBook, Tally was last valued at $855 million and had 183 employees.

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