Payment Rails becomes Trolley with – Domain Name Wire

The company chooses a more generic name and obtains the corresponding .com.

Crunchbase’s Joanna Glasner called 2020 “the year of the name,” after proclaiming that startup names were getting “less dumb.”

Glasner reviewed the data that suggests newly formed startups are starting to pick base words from the dictionary. However, it’s not just newly formed startups that are opting for these dictionary words.

Rebranding companies also search the dictionary for strong word brand names. ZenSourcer became, SteelHouse was renamed, and UserLeap became Now there is another company joining the ranks of dictionary wordmarks.

Canadian company Payment Rails was founded in 2015 with the self-proclaimed goal of creating a global payments ecosystem. Through the development of a comprehensive platform, Payment Rails has attracted customers such as LogMeIn, GigSalad and Flippa.

The company’s natural growth attracted venture capitalists. In early December 2021, Payment Rails successfully raised C $ 7 million in Series A funding from Pace Capital, bringing the company’s total funding to C $ 10.1 million.

This funding announcement was linked to the announcement of the name change from Payment Rails to Trolley. In a blog post, CEO Tim Nixon revealed the limitations of the company’s original brand name, Payment Rails,

We have always known that “payment rails” has a specific infrastructure-oriented meaning, and this has caused some confusion as to what we do. […] Trolley reflects the idea that our customers are looking for a payment partner who can help them move their business forward.

With its new brand name came a new domain name, According to the Whois history, this single word .com was acquired by the company in August 2021, months before the rebranding.

Prior to that, was owned by Cable Car Concepts, a streetcar manufacturer that had a very ’90s website.

Even before changing brands, Payment Rails had moved away from simply offering payment and payment infrastructure. The company offered tools such as tax reporting, fraud prevention, and other software integrations.

In short, Payment Rails had grown too big for its original brand. Under Trolley, associated with the premium domain, the company has more flexibility to introduce a wider set of financial services or even to fully orient itself towards a new sector.

Paired with a coveted single word .com, single word brand names provide brands with versatility and room for improvement.

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