What is Trolley?
Trolley operates as a comprehensive payouts platform designed for businesses and platforms that disburse payments to global on-demand workers, including freelancers, hosts, influencers, and drivers. The company streamlines and automates critical payout processes such as recipient onboarding, tax form collection and reporting (W-9/W-8 and 1099/1042-S), bank account validation, foreign exchange management, and payment delivery. By offering a plug-and-play solution, Trolley aims to simplify complex financial operations for its clients, positioning itself as a key player in the gig economy and platform-based work sectors.
How much funding has Trolley raised?
Trolley has raised a total of $29.6M across 3 funding rounds:
Angel/Seed
$1.1M
Series A
$5.5M
Series B
$23M
Angel/Seed (2017): $1.1M, investors not publicly disclosed
Series A (2021): $5.5M, investors not publicly disclosed
Series B (2024): $23M supported by Pace Capital Advisors and Wavecrest Growth Partners
Key Investors in Trolley
Pace Capital Advisors
Pace Capital Advisors is an M&A advisory firm that focuses on privately held businesses, suggesting a strategic interest in Trolley's market position and potential for consolidation or growth through acquisition.
Wavecrest Growth Partners
Wavecrest Growth Partners is a growth equity firm specializing in B2B software and technology-enabled services, indicating a focus on scalable technology solutions like Trolley's payouts platform.
What's next for Trolley?
The recent major strategic investment signifies a pivotal moment for Trolley, likely enabling accelerated expansion of its platform capabilities and market reach. With a history of consistent capital raises, including Seed, Series A, and now Series B funding, Trolley appears to be in a scaling phase. This enterprise-level funding is expected to fuel product development, enhance customer acquisition efforts, and potentially explore new geographic markets or service verticals. The company's focus on automating payouts for the growing contingent workforce positions it to capitalize on evolving employment trends.
See full Trolley company page
