Global payouts platform Trolley has secured $23 million in Series B funding to accelerate the growth of its platform, enhance product offerings, and expand its market presence. The round was led by Wavecrest Growth Partners, with existing investor Pace Capital also participating.
The investment marks a significant milestone for the company, which has seen tremendous growth in recent years. Over the past three years, Trolley’s revenue has surged by 484%, earning it a spot on the Deloitte Technology Fast 50™ for the second consecutive year. The latest round of funding will enable Trolley to enhance its platform and payment network, extend its global reach, and further develop its compliance solutions to better serve businesses worldwide.
“This funding allows us to double down on what our customers need most,” said Tim Nixon, Founder and CEO of Trolley. “We’ll use these funds to accelerate product development, expand our payment capabilities, and advance compliance solutions. Our focus is on creating immediate and lasting value for our customers.”
Trolley’s platform is designed to simplify global payouts, helping businesses of all sizes—from startups to Fortune 500 companies—navigate the complexities of international payments, tax compliance, and fraud prevention. The company’s solution automates the entire payout lifecycle, driving operational efficiencies and improving the recipient experience.
With the digital economy and cross-border transactions on the rise, businesses are increasingly demanding seamless, compliant, and efficient payout solutions. Trolley’s platform addresses these needs by offering advanced features like tax compliance, digital reporting, ID verification, and fraud prevention technologies.
The new funding will be directed towards three main strategic areas: enhancing the platform’s capabilities, expanding Trolley’s customer base, and innovating compliance solutions. The company plans to broaden its reach into new geographies and adjacent industries, ensuring that it can meet the evolving needs of its diverse clientele.
Wavecrest Growth Partners, who led the Series B round, expressed confidence in Trolley’s vision and ability to execute. “Trolley has demonstrated consistent growth and a deep understanding of the global payouts space,” said Vaibhav Nalwaya, Managing Partner at Wavecrest. “Their focus on B2B payments and high ROI value-added offerings for payers sets them apart in the market.”
Pace Capital, who has supported Trolley since its early stages, also reaffirmed its commitment to the company. “We’ve always believed in Trolley’s ability to solve critical business challenges. Their ability to adapt and grow has only reinforced our confidence in their long-term success,” said Chris Paik, Partner at Pace Capital.
As businesses continue to navigate the complexities of cross-border payments and regulatory compliance, Trolley’s solutions are becoming increasingly essential. The company’s platform is designed to help businesses scale globally with confidence, providing a reliable and compliant solution for global payouts.
Nixon concluded, “Our success is built on delivering value for our customers. This funding will help us further develop our platform and ensure we remain the most trusted and capable payout solution on the market.” Learn more at trolley.com.
