Trolley provides an end-to-end payouts platform for the internet economy, automating the payout lifecycle and offering tax compliance, digital reporting, ID verification, and fraud-prevention tools. The company serves finance and product teams across hundreds of organizations, including SoundCloud, Envato, Downtown Music, Bugcrowd, Creator IQ, and BandCamp. Annually it processes billions of dollars in payouts to over 210 countries and territories and supports more than 4 million recipients. Trolley has seen 484% revenue growth over the past three years and was named to the Deloitte Technology Fast 50 rankings for the second consecutive year. The company is approaching profitability and says the new capital will accelerate product development, expand its payment network and customer base, and advance compliance and fraud-prevention capabilities. Trolley is a payouts platform that began as Payment Rails and has evolved into a global payouts ecosystem serving hundreds of businesses. The company automates mass payouts, collects tax and banking data, and provides risk-management tools via a white-label platform and API. Trolley says it has paid out to over 1.1 million creators, musicians, artists, makers, vendors, on-demand workers and suppliers, and supports payments to 215+ countries in 135+ currencies. Demand accelerated since early 2020 as remote work and global contractor use increased, driving platform adoption. The company currently has about 40 employees and plans to expand its product roadmap, banking networks, payout methods, tax compliance offerings, and ERP/accounting integrations. The recent Series A funding will be used to accelerate these product and market expansions. Payment Rails provides an API-first payouts platform that enables businesses to send payments to any individual or company in over 220 countries, in any currency and to any payment method. The product targets online marketplaces, on-demand and share-economy platforms, ad networks, affiliate platforms, app stores and other businesses with international payout needs. Through its API, customers can access global banking, international ACH, faster payment systems and real-time networks on a pay-as-you-go basis with no setup costs. The infrastructure leverages Blockchain and Ripple for treasury and liquidity management and uses AI and machine learning to optimize payment routing by speed, cost, partner and FX rates. The platform also incorporates AI and fuzzy logic for AML watchlist screening and machine-learning–based fraud detection. Payment Rails is in public beta with an official launch scheduled for November 2017 and has closed funding to support its commercial rollout.

Total raised

$28M

Funding rounds

3

Latest round

Series B

Latest activity

Nov 2024