Tally has raised $50m in Series C funding to support the development of an automated consumer finance platform.
The latest funding round was led by Andreessen Horowitz (a16z). It increases the total amount raised by the company to $92m.
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The company’s existing investors Kleiner Perkins, Shasta Ventures, Cowboy Ventures and Sway Ventures also participated in the round.
As a part of the funding, a16z general partner Angela Strange will join Tally’s board of directors.
Tally funding: Future plans
Tally plans to invest a portion of funding to scale up its business. The remaining investment will be utilised to support the development of a completely automated consumer finance platform.
The platform is envisaged to help the users to achieve their financial goals in less time.
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By GlobalDataTally CEO and co-founder Jason Brown said: “Tally’s end goal is to automate people’s entire financial lives.
“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.”
Last month, Tally launched an automated savings service called Tally Save. The free app will help users to save and reduce debts.
In July last year, Tally raised $25m. The round was led by American venture capital firm Kleiner Perkins.
