California Fintech company shuts down, lays off entire staff in stunning collapse

“This was not the outcome we had hoped for,” Brown said in his announcement.Photo byFirmbee.comonUnsplash

Tally, a San Francisco-based fintech company specializing in credit card debt management, is closing its doors. Founder and CEO Jason Brown announced the shutdown in a LinkedIn post on Monday, citing financial difficulties as the primary reason for the abrupt closure.

Founded in 2015 and headquartered in Potrero Hill, Tally helped consumers manage and pay off credit card debt. Despite nearly a decade of operation, the company was unable to secure the funding needed to sustain its business.

“This was not the outcome we had hoped for,” Brown said in his announcement. “After exploring all options, we were unable to secure the necessary funding to continue our operations.” As a result, Tally has laid off its entire staff.