Tally Technologies
Tally’s logo as of May 2016
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| Private | |
| Industry | Technology |
| Founded | May 2015 |
| Founders | Jason Brown Jasper Platz |
| Headquarters | San Francisco, California, United States |
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Area served
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United States |
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Key people
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Jason Brown (CEO) |
| Products | Mobile application |
| Services | Personal finance, Mobile application |
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Number of employees
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8 |
| Website | www |
Tally Technologies, Inc. is a U.S.-based financial services company headquartered in San Francisco, California. The Tally smartphone app allows individuals to manage and pay their credit cards.
Jason Brown and Jasper Platz, who previously founded Gen110, Inc., a solar energy company funded by Kleiner Perkins Caufield & Byers, started Tally in 2015. Brown and Platz realized that since credit card annual percentage rates (APRs) are typically 15 to 20 percent and late fees are common, there was an opportunity to make credit cards "less expensive and easier to manage".
In June 2015, Tally closed a $2 million Seed funding round led by Aileen Lee at Cowboy Ventures with participation from Accelerate IT Ventures (AITV) and Sherpalo Ventures. In May 2016, the company secured a $15 million Series A round led by Sean Flynn at Shasta Ventures, with participation from existing investors as well as Silicon Valley Bank (NASDAQ: SIVB).
The Tally app allows individuals to avoid credit card late fees and get a lower APR. To sign up for the service, the user is asked to scan her credit cards into the app and agree to a soft credit check.If approved, Tally pays off the high-interest cards using a new Tally line of credit with a lower rate. The credit line is a revolving account, which functions like the credit limit on a credit card, and is available to customers with at least a 660 FICO credit score.
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Wikipedia