Tally Technologies
| Company type | Private |
|---|---|
| Industry | Financial services |
| Founded | 2015 |
| Founder | Jason Brown, Jasper Platz |
| Defunct | August 2024 |
| Headquarters | San Francisco , United States |
Area served | United States |
Key people | Jason Brown (Co-founder), Jasper Platz (Co-founder) |
| Products | Credit card debt management app, revolving line of credit |
Number of employees | 183 (2024) |
| Website | www |
Tally Technologies, Inc. (commonly known as Tally) was a financial services firm headquartered in San Francisco, founded in 2015 by Jason Brown and Jasper Platz.
The company's mobile application assisted users in reducing credit card debt by evaluating their financial situations and providing access to a new credit line with lower interest rates. Additionally, the app facilitated the management of credit card payments to prevent late charges.
Tally's business model involved earning interest on outstanding balances without imposing fees such as annual charges, balance transfers, late payments, prepayments, or insufficient funds. Its profitability depended solely on offering an APR lower than that of users’ existing credit cards.
In August 2024, Tally discontinued its operations and terminated all 183 employees. At the time of shutdown, it held a valuation of $855 million and was located in San Francisco's Potrero Hill district.
Founders and Investors
In 2015, Jason Brown and Jasper Platz—who had earlier established Gen110, Inc., a solar energy enterprise supported by Kleiner Perkins Caufield & Byers—launched Tally. They recognized a market need to alleviate the burden of high-interest credit card debt, which typically carried APRs between 15 and 20 percent along with frequent late fees, aiming to make credit card usage more affordable and manageable.
Tally obtained $2 million in seed funding in June 2015, led by Aileen Lee at Cowboy Ventures, with contributions from Accelerate IT Ventures (AITV) and Sherpalo Ventures.
By May 2016, the company secured a $15 million Series A round led by Sean Flynn of Shasta Ventures, including continued support from previous investors and Silicon Valley Bank ().
In July 2018, Tally revealed an additional $25 million in venture capital financing from Kleiner Perkins alongside existing investors Shasta Ventures, Cowboy Ventures, and Sway Ventures.
Features
Tally offered users a consolidated credit card debt management service through a company-issued line of credit, allowing for a single monthly payment covering multiple cards. To qualify, users scanned their credit cards within the app and underwent a soft credit inquiry. The revolving line of credit was extended to customers maintaining at least a 660 FICO score. The platform also automated payment scheduling to help users avoid late fees while accelerating debt repayment.