Montreal-headquartered Trolley, a global leader in payout solutions, has raised $31.4 million in a Series B growth equity round led by Wavecrest Growth Partners, with ongoing support from investor Pace Capital.
This significant investment positions Trolley to deepen its product capabilities, expand market reach, and enhance service offerings for businesses of all sizes, from startups to Fortune 500 companies.
“This funding marks a pivotal moment for Trolley,” said Tim Nixon, CEO and Founder. “It empowers us to accelerate our platform enhancements, grow our reach, and improve compliance solutions, all aimed at creating immediate and lasting impact for our customers.”
Following a remarkable 484% revenue increase over the last three years and a second consecutive recognition in the Deloitte Technology Fast 50, Trolley is approaching profitability and plans to strategically deploy the new capital across product innovation, customer base expansion, and compliance leadership.
Wavecrest’s Managing Partner, Vaibhav Nalwaya, emphasized Trolley’s track record in B2B payments, noting its high ROI offerings. “Their leadership’s deep understanding of global payouts enables Trolley to address critical business challenges effectively,” he said.
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Pace Capital Partner Chris Paik expressed confidence in Trolley’s trajectory, highlighting the company’s ability to meet shifting customer demands. “Their product growth and adaptability reaffirms our trust in Trolley’s vision and execution,” Paik noted.
With a rising demand for efficient and compliant payout solutions in the digital economy, Trolley is poised to meet global businesses’ needs for swift, secure, and flexible payments. “Trolley is at the forefront of this evolution,” added Wavecrest’s Anthony Giannobile, recognizing Trolley’s comprehensive automation of the payout lifecycle, which delivers substantial ROI.
Nixon underscored Trolley’s dedication to creating value for global businesses. “We’re dedicated to bridging gaps left by existing solutions,” he stated. “This funding will enhance our platform, empowering businesses to manage payouts seamlessly, giving creators, artists, on-demand workers, and suppliers reliable access to the global market.”
This latest funding will fortify Trolley’s role in supporting cross-border transactions and digital economy growth.
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