# Xolo OÜ

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/xolo-ou

- Industry: Financial Services
- Headquarters: Tallinn, Estonia
- Website: www.xolo.io
- Total disclosed funding: $11M
- Latest round: Series A (Jun 15, 2021)
- Investors on record: 6

## About

Xolo OÜ, founded in 2015 and based in Tallinn, Estonia, provides innovative administrative solutions that simplify business management for solopreneurs worldwide, enabling seamless invoicing and company establishment through their unique digital platforms.Xolo OÜ specializes in offering business management services for solopreneurs, allowing them to operate without formal business registration. The company has not undergone notable pivots or ownership changes. Founded in Tallinn, Estonia, by Avo Alender, Erik Mell, Erko Hansar, Taman P., and Urmo Pärg, it has raised a total of EUR 3.2 million through 2 deals, with the latest funding round being a Series A completed on June 15, 2021. The lead investor for this round was Karma Ventures, with additional contributions from Specialist VC, Vendep, and Metaplanet Holdings. The current CEO is Mikko Teerenhovi.Xolo offers comprehensive administrative solutions tailored primarily for solopreneurs, enabling them to manage their businesses efficiently from anywhere in the world. The company’s core product offerings include Xolo Go, which allows users to invoice clients and receive payments without needing to register a formal business entity, and Xolo Leap, which facilitates the remote establishment and operation of an EU company through e-Residency. Xolo serves over 150 countries, including Spain, Germany, Italy, and the Netherlands, focusing on freelancers and digital nomads who seek simplified business management.In the most recent financial year 2024, Xolo reported a revenue of EUR 12,105,477.20 and an EBITDA of EUR 2,019,572.60. The company generates revenue through subscription plans associated with its services, Xolo Go and Xolo Leap, offering clients a variety of tiers that cater to their business needs. This B2B model ensures a steady income stream while fostering long-term relationships with its clientele of freelancers and small business owners.Following its Series A funding round on June 15, 2021, where Xolo OÜ raised EUR 3.2 million led by Karma Ventures, the company plans to use this capital to expand its product portfolio. Although specific details on new products are not disclosed, the funding will support initiatives aimed at enhancing their current offerings and potentially entering new market segments. The focus will continue to be on expanding their reach within existing markets and exploring opportunities in new regions, thereby increasing their global footprint.

## Funding rounds

- Series A, Jun 15, 2021, $3.9M — Vendep, Karma Ventures, Specialist VC, Metaplanet Holdings
- Series A, Jul 15, 2019, $6.8M — Vendep, Leap Ventures, Karma Ventures, Specialist VC, .Contriber Ventures

## Investors

- Vendep (https://capitalatlas.ai/funds/vendep) — Series A
- Leap Ventures (https://capitalatlas.ai/funds/leap-ventures) — Series A
- Karma Ventures (https://capitalatlas.ai/funds/karma-ventures) — Series A
- Specialist VC (https://capitalatlas.ai/funds/specialist-vc) — Series A
- .Contriber Ventures — Series A
- Metaplanet Holdings (https://capitalatlas.ai/funds/metaplanet-holdings) — Series A