Being a direct-to-consumer fintech can be expensive and difficult.
The path to profitability is often a long and winding one, so we have seen several companies pivot to B2B in the last year or so.
Joining this list now is credit card management debt fintech Tally. The company had some notable challenges that were reported by Alex Johnson earlier this year.
Today, we have learned that the company is abandoning its direct-to-consumer approach and pivoting to B2B.
I have been a big fan of the sophisticated technology that Tally has built, as it helped consumers get out of credit card debt in an optimal way. But while the tech was great, it appears that they could not make the economics work at scale.
Now, Tally will offer its tech to other financial institutions. It already has a launch partner, a “large publicly-traded consumer company with more than 50 million users” that is launching in July.
I like this move by Tally, I think it gives them a better shot at long-term success.
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> Credit card repayment startup Tally pivots to B2B
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- Source: https://www.fintechnexus.com/fintech-nexus-newsletter-april-3-2024-tally-pivots-to-b2b-sunsetting-its-b2c-app/
