Fintech company will use funding to scale and expand its automated financial services to help more people achieve their financial goals
Tally, a leading financial automation company, announced it has received $50 million in Series C funding led by Andreessen Horowitz (“a16z”), bringing its total amount raised to $92 million. Previous investors Kleiner Perkins, Shasta Ventures, Cowboy Ventures and Sway Ventures also participated. The funds will be used to grow the business and build out 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,” said Strange. “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 towards 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.”