Trolley, a leading global payouts platform, announced it has raised $23 million in a Series B growth equity funding round led by Wavecrest Growth Partners, with participation from existing investor Pace Capital. This funding will enable Trolley to accelerate product development, broaden its market presence, and enhance its platform to serve better businesses ranging from startups to Fortune 500 companies.
This funding follows years of significant growth for Trolley, which has achieved a 484% increase in revenue over the past three years. With Trolley approaching profitability, it places the company in a well-funded and sound financial position for the future.
The new capital will be strategically deployed to:
1.) Expand the depth of Trolley’s platform and payment network and develop new features that address the evolving needs of businesses managing the nuances of global payouts.
2.) Invest in developing and extending the capabilities of our solutions for adjacent industries and new geographies.
3.) Continue to advance Trolley’s market-leading tax compliance, digital reporting, ID verification, and fraud prevention technologies.
KEY QUOTES:
“This funding marks a pivotal moment for Trolley. This allows us to accelerate our commitment to building what our customers need. We’re channeling these funds into enhancing our platform and payment network, growing our reach, and advancing compliance solutions—all with a focus on creating immediate and lasting impact for our customers.”
“Sticking to our values has been foundational in Trolley’s growth. Success for us means creating value that empowers our customers to scale globally with confidence.”
“We’re dedicated to bridging gaps left by existing solutions, ensuring our platform remains the most trusted and capable on the market. This funding will enable us to further develop our platform, equipping businesses to manage payouts seamlessly across borders, providing creators, artists, on-demand workers, and suppliers with reliable, compliant access to the global market.”
– Tim Nixon, CEO and Founder of Trolley
“What truly sets Trolley apart is their consistent execution around top-line growth and their focus on B2B payments with a differentiated set of high ROI value-added offerings for payers. Their leadership’s deep understanding of the global payouts space has enabled them to address critical business challenges effectively.”
– Vaibhav Nalwaya, Managing Partner at Wavecrest Growth Partners
“We initially invested in Trolley after recognizing the significant pain points their platform addresses for businesses. The team’s ability to expand the product footprint and meet changing customer needs reaffirms our confidence in their vision and execution.”
– Chris Paik, Partner at Pace Capital
“Trolley is at the forefront of this evolution. Their platform automates the entire payout lifecycle, driving substantial ROI by improving operational efficiencies and enhancing the recipient experience.”
– Anthony Giannobile, Principal at Wavecrest
