Rebrands to Trolley with Trolley.com — Payment Rails
Firm chooses a more generic name and gets the matching .com.
Crunchbase’s Joanna Glasner called 2020 “the year of the noun,” following proclaiming that startup names were becoming “less silly.”
Glasner reviewed data that suggests that newly formed startups are beginning to choose basic dictionary words. It’s not only newly formed startups that are opting for these dictionary words, though.
Rebranding firms are also looking for solid, dictionary word brand names. ZenSourcer became Gem.com, SteelHouse rebranded to Mountain.com, and UserLeap became Sprig.com. Now, there’s another firm joining the dictionary word-brand ranks.
Canada-based Payment Rails was founded in 2015 with the self-proclaimed goal of building a global payouts ecosystem. Through the development of a comprehensive platform, Payment Rails attracted clients such as LogMeIn, GigSalad, and Flippa.
The firm’s natural growth has attracted venture capitalists. In early December 2021, Payment Rails successfully raised $7 million CAD in Series A funding from Pace Capital, bringing the firm’s total funding to $10.1 million CAD.
That funding notice was teamed with the news that Payment Rails rebranded to Trolley. In a blog post, CEO Tim Nixon revealed the limitations of the firm’s original Payment Rails brand name,
We’ve always known that “payment rails” has a specific infrastructure-focused meaning, and it has caused some confusion as to what we do. […] Trolley reflects the idea that our clients are looking for a payouts partner who can help them move their business forward.
Along with its fresh brand name came a fresh domain name, Trolley.com. As stated by Whois history, this single-word .com was purchased by the firm in August 2021, months ahead of the rebrand.
Ahead of this, Trolley.com was owned by Cable Car Concepts, a tram manufacturer that had a very 90s website.
Even ahead of rebranding, Payment Rails had branched out from simply offering payout and payment infrastructure. The firm offered tools such as tax reporting, fraud prevention, and other software integrations.
In short, Payment Rails had outgrown its original brand name. Under Trolley, teamed with the premium Trolley.com domain, the firm has more flexibility to introduce a wider set of financial services or even pivot to a fresh industry entirely.
Coupled with a coveted single-word .com, single-word brand names offer brands versatility and room to grow.
