FinTech App Tally Closes $25 Million in Series B
Automated debt manager Tally secured $25 million in Series B funding led by Kleiner Perkins. Previous investors Shasta Ventures, Cowboy Ventures, and Sway Ventures also participated. Mamoon Hamid, general partner at Kleiner, will join Tally’s board of directors.
Founded in 2015, Tally’s mission is to analyze users’ financial profiles to determine the smartest and fastest way to pay down a consumer’s credit card debt, and then take action based on this information. Since officially launching its app in 2017, Tally has used its own underwriting and financing models to save people money in two ways: giving them a line of credit with a lower interest rate and helping them manage their payments, ensuring cards are always paid on time.
The company plans to use the funding to further scale the business.