Tally Raises $80 Million in Series D Funding Led by Sway Ventures
Additional funding to be invested towards future growth and innovation to help more people get out of debt quicker and easier
October 3, 2022
Tally, a leading financial automation company, announced today it has received $80 million in Series D funding led by Sway Ventures with participation from Menora Mivtachim. The company also announced that Ken Denman, a veteran customer-centric technology leader, has joined Tally’s Board of Directors. Previous investors Kleiner Perkins, Andreessen Horowitz, Shasta Ventures and Cowboy Ventures also took part in this round.
“Credit cards are designed to trap people in a cycle of debt. Our debt-free system helps consumers pay off credit cards faster, empowering them to take control of their finances and make real progress towards their financial goals,” said Jason Brown, Tally CEO and co-founder. “We are thrilled to bring Ken and his leadership and deep expertise on board and to continue changing the face of debt management for consumers across the country.”
Tally will use the funding to continue to grow the business and further expand its automated debt pay-down system to help members get out of credit card debt, reducing the time and stress it takes people to reach their financial goals.
“Tally is a true industry innovator for its distinctive use of technology to help more consumers get out of debt, and we look forward to partnering with the Tally team to help expand their product offerings and reach, particularly during a time when credit card balances are nearing all-time highs,” said Denman, General Partner at Sway Ventures. Denman was previously co-founder and CEO of Emotient, Inc., a software technology developer that was acquired by Apple, and has served on the boards of prominent companies including Costco Wholesale Corporation, Motorola Solutions, VMware and Lending Club Inc., among others.
Tally offers automated credit card debt payment services, analyzing customer financial profiles to determine the best and fastest way to pay down debt and then offering eligible consumers a new line of credit at a lower interest rate to support faster repayment. To date, Tally has paid more than $1 billion in credit card debt for its members, saving them millions of dollars in interest and late fees.