Company chooses a more generic name and gets the matching .com.
Crunchbase’s Joanna Glasner called 2020 “the year of the noun,” after 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 companies 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 company 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 company’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 company’s total funding to $10.1 million CAD.
That funding announcement was teamed with the news that Payment Rails rebranded to Trolley. In a blog post, CEO Tim Nixon revealed the limitations of the company’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 new brand name came a new domain name, Trolley.com. According to Whois history, this single-word .com was acquired by the company in August 2021, months before the rebrand.
Before this, Trolley.com was owned by Cable Car Concepts, a tram manufacturer that had a very 90s website.
Even before rebranding, Payment Rails had branched out from simply offering payout and payment infrastructure. The company 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 company has more flexibility to introduce a wider set of financial services or even pivot to a new industry entirely.
Coupled with a coveted single-word .com, single-word brand names offer brands versatility and room to grow.
Post link: Payment Rails rebrands to Trolley with Trolley.com
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