LendingClub and Pagaya acquire intellectual property of shuttered fintech Tally

LendingClub Corporation, a California-based digital lending platform, has partnered with Pagaya Technologies, a US-Israeli fintech, to acquire the intellectual property (IP) of defunct fintech Tally Technologies for an undisclosed amount.
Tally Technologies developed an embedded, white-label credit card debt management platform but ceased operations in August 2024 due to its inability to secure necessary funding, despite raising $80 million in 2022.
At the time of its closure, Tally employed 183 people and claimed to have created the first automated debt management tool for credit cards and interest payments.
Pagaya, which specializes in AI-driven consumer credit and real estate solutions, plans to incorporate Tally’s products into its white-label B2B suite to enhance its credit management capabilities.
The acquisition follows Pagaya’s earlier deal in August for institutional asset manager Theorem Technology.
LendingClub intends to leverage Tally’s IP to improve its member engagement platform and has welcomed some former Tally employees to its team, following a January 2023 layoff of 225 workers due to reduced loan demand caused by interest rate hikes.