2024 has been a year to remember at Trolley—a year of bold innovations, exciting milestones, and meaningful partnerships. Before we head into the new year, we’re taking a look back on what we’ve built together, and how we’re planning to deliver even more ways to simplify, scale, and streamline your payouts and related workflows in 2025.
It’s been a Big (with a capital B) year at Trolley.
In 2024, we achieved one of our most significant milestones yet: closing our Series B funding. It enables us to accelerate our mission to build a seamless, global payouts ecosystem, one that empowers businesses of all sizes to scale their payouts with confidence.
This year saw industries across the globe facing increased regulatory pressures, particularly in areas like identity verification and tax compliance. At Trolley, we’ve been laser-focused on evolving our platform to meet these growing needs, helping businesses stay compliant while reducing risk.
2024 also brought new faces to the Trolley family. We’re thrilled to have welcomed amazing customers like SoundCloud, CAKE, Distro Nation, Tickeri, and Hopeless Records, to name just a few, who are using Trolley to transform the way they manage payouts.
Throughout the year, we published blogs breaking down major topics like how streaming services calculate royalties, what it takes to navigate global compliance regulations, and how to avoid IRS “B” notices. Creating content that sparks conversations and provides actionable insights is central to our mission of helping businesses scale confidently.
In this article, we look back on the past year to share the accomplishments we’re proud of and highlight how we plan to make 2025 even better.
What we cover
Celebrating milestones: How we grew together in 2024
Breaking new ground with Series B funding
This year, we secured Series B funding, a major milestone that reflects the trust and partnership of our customers.
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 Founder and CEO Tim Nixon’s letter to learn more about our vision and next steps. Thank you for helping us get here. We’re just getting started!
Recognition as an industry leader
We’re proud of the impact we’ve made in the payouts space, and the numbers speak for themselves—this year, we were recognized as one of the fastest-growing companies in North America for the second year in a row.
- Deloitte’s 2024 Technology Fast 50 & 500: Ranked 41st in Canada on the Technology Fast 50 list and #244 on the Fast 500, we’re thrilled to be named as one of the fastest-growing companies in North America for the second year in a row.
- Globe & Mail Canada’s Top Growing Companies: Recognized for our growth and impact, The Globe and Mail ranked Trolley 90th on their list of Canada’s Top Growing Companies.
- 2024 Best Workplaces™ for Start-Ups: It’s not all about growth—cultivating a strong workplace culture of trust have pride in the work we do is something we pride ourselves on, and Trolley has been named as one of the 2024 Best Workplaces™ for Start-Ups.
A year of innovation: How Trolley leveled up in 2024
As global compliance regulations evolve, we’ve been preparing the platform and the businesses that rely on us to meet them. And, as ever, we’ve made improvements to Trolley Pay for better, faster payouts.
Recipient onboarding and digital platform reporting in new jurisdictions
Digital platform reporting rules are evolving globally, and we’ve expanded to keep pace.
Trolley now supports reporting requirements in the UK, Australia, and New Zealand, in addition to the 27 EU countries covered under DAC7. You can now compliantly onboard and pay recipients in 30+ countries and e-file with local jurisdictions seamlessly.
Reducing B notices with TIN validation upgrades
With updates to TIN matching, including FTIN capabilities, we’ve made it easier than ever to minimize the risk of IRS B notices.
Features like auto-approval, improved communication, and auto-voiding help ensure compliance while reducing manual errors.
Expanding Trolley Trust for risk management
Building on our identity verification tools, we expanded Trolley Trust to help you verify businesses, phone numbers, and addresses.
With features like sandbox testing, recipient communication, and merchant dashboards, Trust is now a comprehensive risk management solution with out-of-the-box compliance support for INFORM (US) and DSA (EU) regulations.
Streamlining payouts through automation
- Improved routes: This year, we significantly enhanced the Pay network by transitioning a large number of our global routes from USD wires to local bank transfers, now supporting over 90 currencies for our Canada- and UK-based merchants.
- Royalty calculators: Trolley now supports royalty calculator integrations, so music businesses can import royalty data directly into the platform, streamlining royalty payment processes and reducing the risk of human error in transferring data.
- Data connectors: We enhanced Trolley Sync with managed data connectors, allowing developers to build deep, automated data flows across all your systems. This major expansion eliminates the need for manual development, providing out-of-the-box syncing straight to your database.
Improving the developer experience
Developers are at the heart of Trolley, and this year we made our biggest investments yet in enhancing their experience.
Developers have more flexibility and support than ever to build custom workflows, with updates to Verification API, Invoice Payment API, and sandbox mock testing. In addition, we improved the API, widget, and webhooks documentation, and launched a new developer blog for in-depth technical content.
Scalability and performance enhancements
This year, Trolley onboarded some of the world’s largest companies, and with this growth, we focused on enhancing platform performance and scalability.
We introduced improvements like faster batch processing, enhanced payment network stability, and optimized settings to ensure the platform seamlessly supports businesses at any scale.
Making an impact: How Trolley helps businesses succeed
Our customers span industries and geographies, but one thing is clear: we make payouts simpler, safer, and more scalable. Here are just a few ways our platform stands out, according to testimonials:
- Simplified workflows: Trolley reduces manual work by automating complex processes like tax compliance and recipient verification.
- Global reach: Our platform enables businesses to pay recipients wherever they are, without needing multiple tools.
- Risk management made easy: Features like Trolley Trust help our customers meet compliance standards while reducing fraud and errors.
Want to hear directly from our customers? Read the stories of eight businesses that achieved success using Trolley.
A look back at our most popular blogs in 2024
This year, we tackled some of the biggest challenges and trends shaping industries like music royalties, global compliance, and IRS tax reporting. Here are a few standout blog posts:
Music and royalties
- How streaming services calculate royalties: We demystified how streaming platforms allocate payouts to artists, breaking down evolving models and recent changes to major DSPs.
- Superfans: Was 2024 the year of the “superfan”? What is a superfan, really? And what does superfan monetization actually look like?
Global compliance
- The DSA and online marketplaces: We built a guide to understanding the Digital Services Act for online marketplaces, including the main objectives and scope of the DSA and tips for developing a robust compliance strategy.
- The INFORM Consumers Act: We dig into the intricacies of INFORM, explore its implications for both marketplaces and sellers, and examine tools and technologies that can ease compliance with these new regulations.
Tax reporting
- What is an IRS B notice?: This guide breaks down the different types of “B” notices, what to do if you receive one, penalties you may be subject to, and how to avoid getting stung by “B” notices ever again.
- 1099-K threshold changes: Our timely update on the shifting IRS reporting thresholds and what businesses need to prepare for 2024 and beyond.
For more of our written content, check out our blog and learning center.
Looking ahead: How we’ll help you grow in 2025
The future is bright, and we’re committed to building on our role as your one-stop payout platform. With that in mind, we’re focusing on tackling the challenges that matter most to you. Here’s a glimpse into what’s next:
Expanding money movement and enhancing Pay network stability
We’re committed to delivering best-in-class payruns for your business. In 2025, we’ll introduce new payout methods, providing even more flexibility for your recipients.
Alongside this, we’re enhancing core systems to ensure seamless operations, from improved funding options to increased reliability and efficiency.
Scaling workflows to meet your needs
We’re reimagining the integration experience to enable effortless expansion across the entire recipient lifecycle, both before and after payouts.
Upcoming initiatives include modular widget enhancements, advanced business intelligence and accounting sync, and improved API architecture designed for ultimate scalability.
Simplifying multi-jurisdiction tax compliance
As more countries introduce digital platform reporting obligations—including Canada—we’ll continue adding support for these jurisdictions. Our goal is to make global compliance straightforward and hassle-free with intuitive workflows.
Enhancing trust for your global recipient base
With Trolley’s all-in-one platform managing payouts, tax, and risk, we’re expanding verification capabilities to reduce fraud, mitigate risks, and strengthen trust in your recipient network.
Expect improvements in profile verifications, tailored for global recipients, and workflows that give your team full control while prioritizing an exceptional recipient experience.
A moment of gratitude
As we reflect on this year’s achievements, we want to say thank you. Your trust, feedback, and partnership are what drive us forward. Whether you’ve been with us from the beginning or joined us in 2024, you’re the reason we continue to innovate and grow.
2025 is shaping up to be even more exciting, with plans to scale our platform, expand our payout capabilities, and simplify compliance for businesses like yours. Together, we’ll tackle new challenges, unlock opportunities, and continue making global payouts simpler, safer, and more scalable.
Here’s to another year of growth, innovation, and partnership. From all of us at Trolley, thank you for being part of our journey. Let’s make 2025 extraordinary! 🎉
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