Fintech startup Tally decided to close down because it could not receive enough investment

The most common reason for companies to close down is that they cannot find sufficient investment or cannot create a profitable business model in the long term. This often results in the company being unable to pay its debts or investors losing interest.

fintech startup Tally faced exactly these problems. Jason Brown ve Jasper Platz The company, founded by , decided to close down after difficulties in finding investment. Tally, based in the USA and launched in 2015, was known for the low-interest loans it offered to manage and pay off credit card debts. However, the recent financial difficulties and inability to provide the necessary investment brought the end of the company.

Tally’s CEO, Jason Brown, announced the decision to close on LinkedIn. In his statement, he stated that this step did not yield the results the company had hoped for and that it was sad and challenging. He said the company was unable to continue its operations after considering various financing options. In August 2018, personal finance management app Tally introduced the robo-advisor function. had commissioned.

Tally became one of its investors in 9 years. $172 million had received investment. In October 2022 Sway Ventures under the leadership An $80 million Series D investment round then the value of the company $855 million was determined as .

In April, Tally decided to discontinue its consumer application and switch to a B2B model. This strategic change was expected to be supported by a partnership with a large public company. But expectations were not met because the partnership was not implemented.