Trolley, an end-to-end global payouts platform, today announced it has successfully secured a Series B growth equity investment totaling $23m USD.
The funding round was led by Wavecrest Growth Partners, with continued support from existing investor Pace Capital. This financial backing is set to significantly enhance Trolley’s compliance and payment solutions globally.
The company specializes in streamlining payouts, tax compliance, and ID verification processes for businesses worldwide. Trolley serves a wide range of clients, from startups to Fortune 500 companies, offering solutions that manage the complexities of global payouts efficiently.
The newly acquired funds will be strategically utilized to accelerate Trolley’s product development, expand its market presence, and enhance its platform to meet the growing needs of its diverse client base. Trolley aims to improve its existing offerings while also expanding its reach to new geographies and industries.
Over the past three years, Trolley has experienced remarkable growth, with a 484% increase in revenue. This surge has been recognized in the Deloitte Technology Fast 50™ rankings for two consecutive years. With this latest round of funding, Trolley is well-positioned to continue its path toward profitability and further secure its financial stability.
Vaibhav Nalwaya, Managing Partner at Wavecrest Growth Partners said, “What truly sets Trolley apart is their consistent execution around top-line growth and their focus on B2B payments with a differentiated set of high ROI value-added offerings for payers.
“Their leadership’s deep understanding of the global payouts space has enabled them to address critical business challenges effectively.”
Additionally, Chris Paik, Partner at Pace Capital, expressed his confidence in Trolley’s ongoing success: “We initially invested in Trolley after recognizing the significant pain points their platform addresses for businesses. The team’s ability to expand the product footprint and meet changing customer needs reaffirms our confidence in their vision and execution.”
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