Payment Rails rebrands to Trolley, closes $7 million Series A to expand reach of global payouts platform
Summary
Montréal-based FinTech startup Payment Rails has rebranded as Trolley and secured $7 million CAD in Series A financing to fuel the growth of its global payouts offering. With a fresh brand and Series A funding, Trolley aims to better represent its product evolution and meet growing demand for its payments solution. Trolley also raised a total of $1.9 million through a series of bridge round investments in 2018, 2019 and early 2020 from angel investors and Toronto-based venture firm GreenSky Capital. Today, Trolley permits users to make and manage payments to over 1.1 million creators, musicians, artists, makers, vendors, on-demand workers, and suppliers across more than 215 countries in 135-plus currencies. Trolley plans to use the new capital to “expand and accelerate” its product roadmap, and enhance its existing banking networks and payout methods to broaden its geographic reach.
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