Series B: Trolley to Invest in Faster Payments, Enhanced Compliance, & Improved UX

Trolley’s $23M funding from Wavecrest Growth Partners and Pace Capital accelerates our mission to build a seamless, global payouts ecosystem, expanding innovative tools for compliant, fast, and scalable payments that empower businesses of all sizes. Read Tim Nixon’s letter to learn more about our vision and next steps.

“The best way to predict the future is to invent it.” – Alan Kay

In today’s global economy, businesses and individuals are more interconnected than ever. Yet, the payouts space is riddled with obstacles: slow payment processes, compliance hurdles, complex tax requirements, and a lack of efficient solutions to pay non-employee workers hinder growth and create friction between businesses and their recipients.

Our mission at Trolley has always been clear—to simplify payouts for global businesses of all sizes. To accomplish this, we deliver seamless, compliant, and secure solutions that not only meet but exceed the evolving needs of our clients.  We’re building a future where payouts are effortless and accessible to all.

Today, we’re excited to announce that Trolley has secured $23 million USD ($32 million CAD) in growth equity funding, in a round led by Wavecrest Growth Partners with participation from Pace Capital. 

“What we really liked about Trolley was consistent execution around top-line growth, a focus on B2B payments with differentiated high-ROI value-added offerings for the payer, and leadership that is refreshingly transparent and self-aware.”
– Vaibhav Nalwaya, Managing Partner, Wavecrest Growth Partners

This investment isn’t about changing directions; it’s about accelerating our commitment to what our customers need. We’re doubling down on creating value for our clients, investing in areas that will have immediate impacts. This funding empowers us to expand the depth and breadth of our platform, providing a suite of tools that serve businesses ranging from solo entrepreneurs to Fortune 500 companies. 

We will focus on innovations like faster cross-border payments, enhanced compliance tools, tax reporting automation, and improved user experiences for both businesses and recipients. By staying ahead of changing tax and reporting regulations and building trust through advanced ID verification, we aim to bridge serious gaps left by existing solutions.

Over the past three years, we’ve developed a strong foundation across our platform through four key products: Pay, Tax, Trust, and Sync. The next few years will be focused on increasing the scalability of workflows for your business while continuing to offer a best-in-class global recipient experience. 

Whether you’re paying a hundred recipients domestically or a million globally, Trolley is—and will be—your partner in growth.

“Payments is just one part of the larger constellation of pain points for platforms nowadays; tax, compliance, trust, IDV are all equally important. The Trolley team has done an incredible job expanding the product footprint to meet the changing needs of their customers.”
– Chris Paik, General Partner, Pace Capital

To our current customers and partners, we extend our deepest gratitude. Your trust in us has been the cornerstone of our success, and we’re proud that our solutions have helped you grow your businesses with ease and confidence. This funding empowers us to serve you even better.

We want to thank our existing investors, Pace Capital and GreenSky Ventures, for their unwavering support and belief in our vision. We’re also thrilled to welcome Wavecrest Growth Partners to the Trolley team. Their expertise and strategic insight will be invaluable as we enter this exciting new phase.

We also want to recognize the hard work and dedication of the Trolley team. Success for us means creating real value that empowers our customers. I’m proud to say that since day one, our team has been all in on our mission, working with integrity and delivering on our promises. This investment is a testament to their collective effort, and I am confident in their ability to drive the company forward.

“Trolley’s focus on automating the entire payout lifecycle and improving the recipient experience drives substantial ROI for its customers and makes Trolley a mission-critical partner to support growth.“
– Anthony Giannobile, Principal, Wavecrest Growth Partners

Together, we are unlocking the collective economic opportunity of the internet for everyone by building a truly global payouts ecosystem.

Thank you for being a part of our story. The future of payouts is here, and we’re building it together.

Sincerely,

Tim Nixon, CEO & Founder