This report documents Trócaire’s experience piloting a pre-positioned funding mechanism that provides small, flexible grants to local and national organisations before emergencies occur, enabling them to lead rapid, context-driven humanitarian responses. Based on research across Sierra Leone, Malawi, Myanmar, Nicaragua and Rwanda, it explores the origins of the model, its implementation, strengths and operational challenges, and its contribution to advancing localisation. The report finds that pre-positioned funding improves timeliness, flexibility, partner leadership, anticipatory action and access to coordination mechanisms while fostering more equitable partnerships. It concludes with recommendations for Trócaire, local partners, donors and international actors on scaling flexible, locally led financing models and investing in preparedness and humanitarian capacity.