Our success is both a reflection of our innovation and our customers’ ongoing ambition and growth. It’s with pride that we announce a milestone that confirms this to us—Deloitte has named Trolley to the Technology Fast 50 and Fast 500 for 2023.
With a staggering 936% growth rate between 2019 and 2022, our placement at #23 in Canada and #153 across North America on these lists deserves some celebration.
The ‘Fast 50’ and ‘Fast 500’ distinctions are much more than awards. They are proof that by focusing on solving the payouts problems that our customers face on a daily basis, we are able to affect their success.
“We are thrilled to be recognized by Deloitte as one of the fastest-growing companies in North America and to rank so highly,” said Conor Cox, Vice President of Revenue at Trolley. “This honor is a testament to our relentless commitment to innovation and our customers. We’ve differentiated ourselves by responding to the market and anticipating its needs.”
The rest of this blog delves into the specifics of our growth story. We illustrate through data that our customers’ success stories are interwoven with ours. We take a moment to appreciate our product’s strengths and talk about Deloitte’s methodology behind their rankings. We then circle back to where it all began—our gratitude to our customers, our partners, and our team members.
What we cover
- Zooming In: The Numbers Behind Our Shared Growth Story
- Behind the Scenes: The Muscle Behind Trolley’s Solutions
- Decoding Deloitte: Understanding the Fast 50 & 500 Rankings
- After the Applause: Charting Our Future Together
Zooming In: The Numbers Behind Our Shared Growth Story
The journey to this recognition is a tale of numbers, but not just any numbers—data that tells the story of shared success.
Trolley’s remarkable 936% revenue growth from 2019 to 2022 is a figure that speaks volumes on its own. For that, kudos to the whole Trolley team and the dedication they’ve shown on a daily basis—their commitment to driving our company and our product forward.
Yet, these accolades aren’t ours to claim on our own. This monumental growth is intertwined with the expansion of our customer base, which soared by 341% during the same period.
Peeling back the layers on these percentages reveals the true engine of our growth—the businesses we serve.
As a leading payout provider, our core mission is to facilitate seamless financial transactions. And in this, our metrics tell an even more compelling story: our payout volume didn’t grow one-to-one, our merchants accelerated total payments by 1172% over the same period.
Each new merchant and each additional recipient represents an individual success story, and that’s where things have exploded for us. The number of total recipients grew by an astonishing 1473%. This reflects the impact of Trolley’s commitment to simplifying our customers’ onboarding and payout process on their capacity to scale.
“Our growth is not just a number— it’s a demonstration of our commitment to changing the way people are compensated,” explained Vincent Guérin, VP Marketing at Trolley. “We have partnered with industry pace-setters and their ambition has been instrumental; it’s challenged us to refine our offerings and sharpen our competitive edge.”
It’s a mutually beneficial relationship: as our customers flourish and expand their reach, Trolley’s solutions and services evolve in tandem to support them.
Behind the Scenes: The Muscle Behind Trolley’s Solutions
The success of Trolley and its resounding revenue growth is not by chance. It’s the result of a meticulously crafted engine that drives our payout solutions. At the heart of this engine is a blend of cutting-edge technology, robust compliance measures, and a user-centric philosophy.
“We’re more than a payout platform; we’re helping grow the creator economy, and we look forward to continuing to pave the way for innovative and compliant financial transactions worldwide,” shares Barnett Klane, VP Product at Trolley. “We’re dedicated to compliance without complexity across our whole suite of payout tools.”
So, how does Trolley stand out from other payout platforms?
Unmatched Recipient Experiences
We’ve redefined the recipient experience with a white-label solution that feels personal yet incredibly efficient. From seamless onboarding to automatic notifications and a recipient dashboard that supports 36 languages, our platform was built for global reach with a local touch.
Global Payouts Made Swift and Simple
Trolley’s extensive global payment network reaches over 210 countries and territories, offering flexible payout options that put the choice in the hands of the recipients, whether it’s bank transfers, e-wallets, or local options like PayPal and Venmo.
Tax Filing Transformed
Gone are the days of daunting tax seasons—our platform handles the heavy lifting of Forms 1099 and 1042 and DAC7. Trolley enables users to close tax season within minutes, not weeks. We provide an all-digital, secure contractor tax platform for form collection, automated withholding based on up-to-date treaty rules, and support across multiple jurisdictions and income types.
Seamless System Synchronization
With Trolley, integration into existing ecosystems is smooth sailing. Our built-in integrations with ERP systems like Netsuite, Xero, & QuickBooks Online prevent duplication errors and provide real-time visibility for quicker and more informed business decisions.
A Tailored Payout Stack
Our Trolley API is the cornerstone of our customizable payout experience. Whether it’s automating payouts, maintaining up-to-date data, or building self-service features, Trolley’s API offers scalability and a comprehensive suite of developer tools that support a wide array of programming languages.
Each component of our product suite has been developed with the same vision Barnett highlighted: to grow the creator economy and to ensure that every transaction made on our platform is not only a transfer of funds but a step towards a more inclusive and empowered financial future.
This isn’t just technology; it’s a pledge to move money with meaning, to ensure each transaction enriches the experience of our users and their beneficiaries across the globe. It’s the muscle that has powered Trolley’s growth and will continue to drive our customers’ success far into the future.
Decoding Deloitte: Understanding the Fast 50 & 500 Rankings
Few awards carry the weight and prestige of Deloitte’s Fast 50 and Fast 500 rankings. This cohort of businesses is transforming the landscape of technology and entrepreneurship.
The Essence of the Fast 50 & Fast 500
Deloitte’s Technology Fast 50 program is a celebration of the fastest-growing technology companies in Canada. For over a quarter of a century, it has shone a spotlight on organizations that redefine the very edges of innovation and market potential. Divided into categories like Fast 50 ranking, Enterprise, Clean Technology, and Companies-to-Watch, the program embraces a diverse range of disruptors, innovators, and visionaries.
But the reach of Deloitte’s recognition extends beyond Canadian borders. The North American Technology Fast 500 echoes this ethos, identifying companies in the US and Canada that are setting the pace for their sectors. In its 29th iteration, the Fast 500 program showcases growth, grit, and foresight across tech industries, including media, telecommunications, life sciences, fintech, and energy tech.
A Testament to Growth and Innovation
Being named to these lists is not just about having a good year—it’s about sustained performance and scaling heights that few businesses can boast. To qualify for the Fast 500, a company must demonstrate rapid growth over a four-year period, backed by proprietary intellectual property that contributes to the majority of its revenues.
Furthermore, there are stringent financial criteria: at least US$50,000 in operating revenues in the base year and US$5 million in the current year. This ensures that the companies listed are not only innovative but also economically substantial and stable. The 2023 Technology Fast 500 companies exhibited an average growth rate of 1,934% and a median rate of 497%.
Recognition That Resonates
For Trolley, appearing on these lists is a moment of pride and reflection. It’s a confirmation that our customer-centric approach to solving payout challenges is resonating on a grand scale. It underscores the trust and partnership we’ve fostered with our growing client base and the relentless innovation of our team.
In essence, these rankings are the story of Trolley’s journey so far—a commitment to excellence and customer success.
As we celebrate this achievement, we do it with an eye toward the future, ready to push boundaries and continue driving growth that moves the world.
After the Applause: Charting Our Future Together
A huge thank you to all our customers—your growth is our growth, and being named to Deloitte’s Fast 50 & Fast 500 is a shared success. You’ve been pivotal in this journey, and we’re excited to move forward with you.
As our CEO Tim Nixon reflected, “Being part of this prestigious list is more than just an accolade; it’s a reminder of our commitment to our customers and the difference we’re making in the internet economy.”
Thinking that Trolley can help fuel your growth? Check out our platform in action—schedule a Trolley demo today.
As we celebrate today, we’re already gearing up for tomorrow. More than a payout platform, we’re your growth partner for the future. So here’s to continuous innovation and to achieving more together. 🥂