Xolo is a one-person business administration and compliance platform that helps solopreneurs set up and run micro-businesses quickly. Its platform bundles banking, invoicing, taxation, and compliance tools needed by freelancers and sole traders. Originally focused on location-independent freelancers and digital nomads, Xolo has expanded to serve a broader micro-business segment. The company supports over 75,000 solopreneurs across more than 200 countries and reports an ARR of €4 million. With a newly launched localized service in Spain targeting sole traders, Xolo aims to capture more local freelancer and sole trader markets. Management cites accelerated growth during the pandemic and a 29% increase in average billing per Xolo customer year-over-year. Xolo plans to expand its product portfolio and attract talent to become a leading invoicing and compliance choice for independent workers worldwide. Xolo provides an online platform for launching and running one-person businesses, offering company formation, banking, accounting and compliance services. The company has been offering a full suite of services for global freelancers since 2015. Led by CEO Allan Martinson, Xolo will introduce a new virtual service to help professional freelancers reduce the complexity and cost of engaging with national governments and operate in a borderless world. It will offer two products: Go, which launches freelancing businesses in minutes with dedicated bank accounts, invoicing, expense management and payouts; and Leap, which enables EU-registered companies to obtain full banking, accounting and tax compliance services via Estonia’s e-Residency system. The platform targets global freelancers seeking streamlined administrative and financial operations across borders.

Total raised

$10M

Funding rounds

2

Latest round

Equity

Latest activity

Jun 2021