Trolley Raises $23M Series B to Revolutionize Global Payouts
Trolley raises $23M Series B to scale its global payouts platform, enhancing compliance, fraud prevention, and payment capabilities. Trusted by companies like SoundCloud and Envato, Trolley is expanding its reach to serve startups and Fortune 500s worldwide.
November 1, 2024 – Toronto-based Trolley, a leading global payouts platform, has secured $23 million in a Series B funding round led by Wavecrest Growth Partners, with additional backing from Pace Capital. This investment will fuel Trolley's mission to transform how businesses manage global payouts, compliance, and fraud prevention.
Expanding a Comprehensive Payouts Platform
Under the leadership of CEO and Founder Tim Nixon, Trolley provides an end-to-end solution for managing payouts, tax compliance, and identity verification. Its platform is trusted by companies like SoundCloud, Envato, and BandCamp to streamline workflows, reduce risk, and scale operations globally.
With this new funding, Trolley plans to:
- Enhance Product Offerings: Expand its payment network and introduce new features that cater to the evolving needs of businesses handling complex global payouts.
- Broaden Customer Reach: Target new industries and geographies, positioning itself as a go-to platform for startups and Fortune 500 companies alike.
- Advance Compliance and Security: Innovate solutions in tax compliance, digital reporting, ID verification, and fraud prevention, addressing the regulatory and operational challenges of cross-border payments.
Meeting the Needs of the Internet Economy
Trolley’s platform is designed for the internet economy, where businesses increasingly rely on seamless financial operations across borders. Its tools empower finance and product teams to handle payouts efficiently while meeting local compliance standards, making it indispensable for modern organizations.
Tim Nixon emphasized the strategic goals behind the funding, stating, "This investment enables us to scale our platform to meet the needs of businesses navigating the complexities of global payouts. Our mission is to simplify these processes, helping our clients grow with confidence."
With this infusion of capital, Trolley is poised to enhance its platform and reach, addressing the needs of a diverse customer base and cementing its position as a leader in the global payments industry.