Trolley
Also a provider — view Trolley’s profile →“Can a global mass-payouts API also own recipient onboarding, tax, and compliance operations for the internet economy?”
Founded2015
HQToronto, Ontario, Canada
FoundersTim Nixon
Latest roundSeries B, 2024
IndustryInfrastructure / Payments
The story
Founded 2015 in Toronto as Payment Rails, an API-first global mass-payouts platform competing with Hyperwallet, Tipalti, and Payoneer. Rebranded to Trolley in December 2021 to emphasize its expansion beyond pure payment rails into recipient operations — KYC/KYB (Trust), tax compliance (1099/1042/DAC7), and ERP sync. Raised a $23M Series B in late 2024 to double down on payouts + compliance for creator economy, marketplaces, royalties, and B2B AP. In 2025 shifted its US bank partnership to Cross River Bank, adding FDIC-insured balances and push-to-card debit rails.
Product timeline
2015
Founded as Payment Rails, a global payout API· founding
2021
Rebranded from Payment Rails to Trolley· pivot
2024
Raised $23M Series B led by Wavecrest Growth Partners· funding
2025
Launched FDIC-insured US accounts via Cross River Bank partnership· banking
2026
Launched push-to-card debit card payouts for US recipients via Cross River Bank· payments
Regulated entities
1
regulatory licence held by Trolley
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
7 layers disclosed in Trolley’s embedded-finance stack
Payments / PSP
Money movement
in the full report
Banking / BaaS
in the full report
Card network
in the full report
Sponsor bank
in the full report
FX & payouts
in the full report
Accounting
in the full report
Accounting gap: none
18 more providers across 6 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.