Tally
Tally was a San Francisco-based consumer fintech, founded in 2015, that used machine learning to automate credit card debt pay-down for individual US consumers. The company raised $172M, reached an $855M valuation, and shut down in August 2024, with assets later absorbed by Happen Bank.
- Company typePrivate
- Founded2015
- HeadquartersSan Francisco, United States
- Headcount101–250
- GTM typeB2C
- OfferingSoftware
What Tally does
Tally was a US-based consumer fintech company founded in 2015 and headquartered in San Francisco that operated an automated credit card debt management platform. Its core product was a mobile-first application that used machine learning to optimize payment timing and amounts across a member's multiple credit cards, with the stated goal of reducing interest costs, eliminating late fees, and accelerating debt payoff. The company reported having helped members pay down over $1 billion in credit card debt and saved users approximately $1.2 million in late fees over its operating history. Its go-to-market was product-led growth via a self-serve consumer app targeting individual US consumers struggling with high-interest credit card debt; revenue was generated through subscription-style recurring fees for its debt management service, though specific pricing was not publicly disclosed. Tally was venture-backed, raising approximately $172 million across five funding rounds from 2015 through October 2022, with the $80 million Series D led by Sway Ventures valuing the company at $855 million post-money. The company shut down abruptly in August 2024 after running out of cash, laid off its entire staff, and its technology, brand, and operations were absorbed by Happen Bank, which now redirects Tally's former website and has announced a successor product branded 'DebtIQ' that integrates Pagaya's AI lending infrastructure.
Tally firmographics
Firmographics- Name
- Tally
- Legal name
- Tally Technologies Inc.
- Website
- https://meettally.com
- Company type
- Private
- Founded year
- 2015
- Operating status
- Closed
- Headcount range
- 101–250 employees
- Short description
- Tally was a San Francisco-based consumer fintech, founded in 2015, that used machine learning to automate credit card debt pay-down for individual US consumers. The company raised $172M, reached an $855M valuation, and shut down in August 2024, with assets later absorbed by Happen Bank.
- Ownership category
- akta.pro rank
Tally industry classification
Industry- Product category
- Consumer Debt Management Software
- NAICS
- Activities Related to Credit Intermediation (5223)
- SIC
- Personal Credit Institutions (6141)
- akta.pro primary industry
- Credit Card Debt Consolidation Loans (FSAKAIAC)
- akta.pro secondary industries
- Debt Consolidation Personal Loans (Unsecured Installment) (FSAKAAAD), Collections, Recovery & Debt Management Platforms (FSAGAHAI), Credit Counseling & Debt Management Plans (DMP) (FSAKAJAH)
Keywords
Where Tally is headquartered
LocationHeadquarters
- HQ city
- San Francisco
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Tally business model
Business model- GTM type
- B2C
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations
Revenue model
- Debt Management Services: Tally generated revenue through its automated debt pay-down system for credit card debt. The company helped members pay over $1 billion in credit card debt and saved users $1.2 million in late fees.
Go-to-market motion1 record
Distribution channels1 record
Tally product offering
Product offeringCore offering
Tally operated a mobile-first, machine learning-powered automated debt pay-down platform that helped individual consumers manage and pay down high-interest credit card debt. The service analyzed users' credit card balances, APRs, and payment schedules to optimize payment timing and amounts across multiple cards, and extended personal loans for debt consolidation. Members paid a recurring subscription for the automated service.
Differentiator
Problem solved
Functional benefit
Products and services
- Automated Credit Card Debt Pay-Down Service A mobile-first, machine learning-powered subscription service for individual U.S. consumers that automatically optimizes the timing and sizing of credit card payments across a user's full card portfolio, extended personal loans for debt consolidation, reduced interest costs, and eliminated late fees. Members paid a recurring subscription for the automated service.
Quantifiable outcome
- Paid over $1 billion in credit card debt for members
- +1 more outcomes
Companies that use Tally
Customer profileSegments1 record
Ideal customer profiles1 record
Tally technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Tally partnerships and signals
Strategic signalScale indicators5 records
Recent moves8 records
Expansion highlights4 records
Tally competitors and assessment
Company assessmentEmerging players
- Brigit: Brigit provides cash advances, budgeting, and financial health tools via a subscription model aimed at consumers living paycheck-to-paycheck, a closely related member base to Tally's.
- Earnin: Earnin is a consumer financial app focused on earned wage access and avoiding overdraft fees, serving the same cash-strapped consumer cohort Tally targeted.
- Dave: Dave is a subscription-based consumer finance app offering cash advances and budgeting tools, targeting the same financially stressed consumer demographic as Tally.
- MoneyLion: MoneyLion is a consumer fintech that offers credit-builder products and personal loans, overlapping with Tally's mission of helping subprime/credit-stretched consumers manage debt.
Broad incumbents
- Marcus by Goldman Sachs: Marcus offers unsecured personal loans for credit card debt consolidation, serving the same consumer need as Tally through a deposit-funded balance sheet of a major bank.
- SoFi: SoFi offers personal loans for credit card debt consolidation alongside a broader consumer finance platform, overlapping with Tally's core product but with deposit funding and a much wider suite.
- LendingClub: LendingClub is a large online lender that offers personal loans explicitly marketed for credit card debt consolidation, operating in the same target use case as Tally but at substantially greater scale.
Direct peers
- Prosper Marketplace: Prosper is an online personal loan platform that prominently serves debt consolidation borrowers, a directly comparable credit product and customer base to Tally's.
- Happen Bank: Happen Bank acquired Tally's technology and is launching DebtIQ as the direct successor to Tally's automated credit card debt paydown offering, making it the closest peer and continuation of the Tally thesis.
- Payoff (now part of Happy Money): Happy Money (formerly Payoff) is purpose-built around credit card debt consolidation loans combined with financial wellness tools, the closest niche pure-play to Tally.
Market position
Strengths2 records
Weaknesses4 records
Competitive moat3 records
Key risks6 records
Key highlights6 records
Customer concentration
Tally social profiles
Digital presenceTally financial estimates
Financial estimateRevenue estimate
Valuation estimate
Tally leadership team
Management profileNumber of profiles
Tally funding detail
Funding detailFunding overview
Funding rounds5 records
Investors12 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Tally M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Tally
What does Tally do?
Tally operated a mobile-first, machine learning-powered automated debt pay-down platform that helped individual consumers manage and pay down high-interest credit card debt. The service analyzed users' credit card balances, APRs, and payment schedules to optimize payment timing and amounts across multiple cards, and extended personal loans for debt consolidation. Members paid a recurring subscription for the automated service.
Is Tally a public or private company?
Tally is a private company. It is classified as venture growth investor backed and is currently closed.
When was Tally founded?
Tally was founded in 2015. It employs 101 to 250 people.
Where is Tally based?
Tally is headquartered in San Francisco, United States, in the North America region.
How does Tally make money?
One revenue line is on record: debt Management Services.
Who are Tally's main competitors?
Emerging players on record are Brigit, Earnin, Dave and MoneyLion. Broad incumbents are Marcus by Goldman Sachs, SoFi and LendingClub. Direct peers are Prosper Marketplace, Happen Bank and Payoff (now part of Happy Money).
Does Tally have an API?
No public API is recorded for Tally.
What industry is Tally in?
Tally's product category is Consumer Debt Management Software. Its primary akta.pro industry code is FSAKAIAC, Credit Card Debt Consolidation Loans, with a secondary code of FSAKAAAD, Debt Consolidation Personal Loans (Unsecured Installment). Its NAICS code is 5223 and its SIC code is 6141.