Tally growing organisational structure as it moves into new business development phase

Tally Ltd saw its cash at bank total rise to £555,969 at the end of December 2021 from £55,936.

The private firm, which has a full-reserve banking platform and a physical-gold digital monetary system called tally, raised more than £300,000 through an equity issue during the second half of the year and raised around £1.92mln (US$12.5mln) through the sale of 41,538 Railsbank shares.

The early-stage company’s revenues remain nominal, totalling £4,830 in the six months to the end of 2020, compared to £10,002 in the corresponding period of 2019.

The loss before tax held steady at £697,794 (2019: £693,615).

“During the period Tally Ltd completed its commercial-grade technology platform and smartphone app, with increased levels of security, greater processing speed, new product functionality capacity and data management tools, that the global vision for tally requires,” said Cameron Parry, the chief executive officer of Tally.

“The company also focused on increasing organisational capabilities and the team approximately doubled in size from seven full-time employees and four part-time personnel to 14 full-time and six part-time team members. Tally Ltd ended the period with a commercially robust banking technology platform and a growing organisational structure to progress the next phase of business development and strategy implementation,” he added.

Story by ProactiveInvestors