Canadian fintech company Trolley has secured a $23 million Series B funding round led by Wavecrest Growth Partners, with participation from existing investor Pace Capital.

The company plans to use the funding to enhance its music industry payout platform with several key improvements:

• Advanced ID verification systems
• Comprehensive artist profiles
• Integration of various royalty calculators
• Increased workflow scalability for music businesses of all sizes

With a remarkable three-year growth rate of 484%, Trolley currently processes payments to over 210 countries and territories. The company has recently partnered with notable music industry players including SoundCloud, Hopeless Records, and Distro Nation.

According to CEO Tim Nixon, this funding will help Trolley "bridge gaps left by existing solutions" and strengthen its position as the most trusted payout platform in the market. The platform's recent partnership with Distro Nation has already shown promising results, enabling faster artist payments and streamlined processes.

The investment marks a significant step in Trolley's mission to transform music industry payouts, focusing on providing reliable, compliant access to global markets for creators, artists, and music businesses.

Related Articles

Previous Articles