Klarna's expansion into banking marks a pivotal shift from its origins in buy now, pay later services, now offering accounts and potential earnings for users.
Tally's closure serves as a harsh reminder of the impact of rising interest rates on fintechs, despite earlier optimism backed by prestigious investors.
CEO Jason Brown expressed pride in Tally's accomplishments, acknowledging the painful decision to shut down while emphasizing a hope for future innovations in debt management.
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