Led by a16z, Tally raises $50 million in Series C Funding

Jason Brown, Tally CEO and Co-Founder

San Francisco-based Tally, an automated debt manager has announced that they have raised $50 million series C led by Andreessen Horowitz (“a16z”) to fully automate consumers’ financial lives. Previous investors Kleiner Perkins, Shasta Ventures, Cowboy Ventures and Sway Ventures also participated.

Founded in 2015, Tally helps save its users money and time by determining the smartest and fastest way to pay down their debt, then acts on their behalf. Tally helps separate the burden of credit cards from the benefits, enabling people to use credit cards for their convenience and rewards without the stress of managing multiple payments or accruing unnecessary fees.

The current funding round brings the total amount raised by the company to $92 million, with plans of the fund going towards expansion and to create a completely automated consumer finance platform that will reduce the time and stress it takes people to reach their financial goals.

Angela Strange, General Partner at a16z, will join Tally’s board of directors. “We take automation for granted in so many areas of our lives, but automation has been slow to come to financial services,” Strange said. “Too many Americans are drowning in credit card debt, in large part because the system is too complex — by design. Tally has built trust with consumers as their automated debt manager, a first but significant step toward providing that full financial roadmap and putting billions back in consumers’ pockets. We are thrilled to be partnering with the Tally team.”

“Tally’s end goal is to automate people’s entire financial lives,” said Jason Brown, Tally CEO and co-founder. “We are excited to get the backing of a16z to provide a service that makes optimum financial decisions for people based on their objectives — and then actually takes action on their behalf to see those goals through. We believe this is the future, and we are excited to deliver this new and improved approach.”

In May 2019, Tally launched a completely free automated savings service, Tally Save, that rewards good financial habits and helps people save effortlessly.

Related Posts