Trolley, a prominent global payouts platform, has raised $23 million in Series B funding led by Wavecrest Growth Partners, with support from existing investor Pace Capital. This funding will accelerate Trolley’s platform development, expand its market reach, and improve its offerings to better serve businesses of all sizes, from startups to Fortune 500 companies.
“This funding is a pivotal step for Trolley,” said Tim Nixon, Trolley’s CEO and Founder. “We’re using these resources to enhance our platform, broaden our reach, and advance compliance solutions, creating a lasting impact for our customers.”
Strategic Growth Plans
This investment comes as Trolley continues its impressive growth, marked by a 484% revenue increase over the past three years and its recognition in the Deloitte Technology Fast 50™. The new capital will be used to:
- Enhance Product Offerings: Broaden Trolley’s platform and payment network, with new features tailored to the evolving needs of global payouts.
- Expand Customer Reach: Strengthen capabilities for diverse industries and explore new geographical markets.
- Advance Compliance Solutions: Innovate in areas like tax compliance, digital reporting, ID verification, and fraud prevention.
Investor Confidence in Trolley’s Vision
The investment reflects Wavecrest’s confidence in Trolley’s growth and customer-centric approach. “Trolley’s focus on B2B payments and high ROI value-added offerings sets them apart,” noted Vaibhav Nalwaya, Managing Partner at Wavecrest Growth Partners. Chris Paik, Partner at Pace Capital, echoed this, praising Trolley’s ability to address critical pain points in the payouts market.
Meeting Global Market Needs
With the increasing demand for seamless and compliant payout solutions, Trolley’s automation of the payout lifecycle brings value through enhanced operational efficiencies and improved recipient experiences.
“We’re committed to bridging the gaps in the market,” added Nixon. “This funding enables us to support businesses in managing cross-border payouts, providing creators and suppliers with reliable global market access.”
