About Xolo
Xolo is a company based in Tartu (Estonia) founded in 2015 by Mikko Teerenhovi and Erik Mell.. Xolo has raised $11.93 million across 3 funding rounds from investors including Taevast.com, Karma Ventures and Vendep Capital. The company has 167 employees as of September 30, 2024. Xolo offers products and services including Xolo Go, Xolo Leap, and Invoicing Tool. Xolo operates in a competitive market with competitors including HoneyBook, Cosmofeed, Agenda Boa, Bonsai and Wethos, among others.
- Headquarter Tartu, Estonia
- Employees 167 as on 30 Sep, 2024
- Founders Mikko Teerenhovi, Erik Mell
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Sectors
Technology
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Xolo Oü
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Annual Revenue
$12.11 M (USD)42as on Dec 31, 2024
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Net Profit
$1.22 M (USD)204as on Dec 31, 2024
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EBITDA
$1.1 M (USD)181as on Dec 31, 2024
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Total Equity Funding
$11.93 M (USD)
in 3 rounds
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Latest Funding Round
$3.63 M (USD), Series A
Jun 15, 2021
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Investors
Taevast.com
& 6 more
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Employee Count
167
as on Sep 30, 2024
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Products & Services of Xolo
Xolo offers a comprehensive portfolio of products and services, including Xolo Go, Xolo Leap, and Invoicing Tool. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Tool for invoicing and payments without a company
Platform for running e-Residency companies remotely
System to send and schedule professional invoices
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Funding Insights of Xolo
Xolo has successfully raised a total of $11.93M across 3 strategic funding rounds. The most recent funding activity was a Series A round of $3.63 million completed in June 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Series A — $3.6M
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First Round
First Round
(23 Oct 2017)
- Investors Count 7
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun, 2021 | Amount | Series A - Xolo | Valuation | Karma Ventures , Vendep Capital | |
| Jul, 2019 | Amount | Series A - Xolo | Valuation | Karma Ventures , Vendep Capital |
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| Oct, 2017 | Amount | Seed - Xolo | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Xolo
Xolo has secured backing from 7 investors, including venture fund and angel investors. Prominent investors backing the company include Taevast.com, Karma Ventures and Vendep Capital. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Taevast.com is engaged in providing digital marketing and software solutions.
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Founded Year | Domain | Location | |
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Karma Ventures is focused on investing in deep-tech software startups.
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Founded Year | Domain | Location | |
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Tech focused Accelerator & VC firm investing primarily in the US, the UK and Finland
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Xolo
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Xolo
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Xolo Comparisons
Competitors of Xolo
Xolo operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as HoneyBook, Cosmofeed, Agenda Boa, Bonsai and Wethos, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Client workflows are automated and managed by HoneyBook software.
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| domain | founded_year | HQ Location |
Platform offering a suite of products for creators and soloprenuers to monetize digital content
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| domain | founded_year | HQ Location |
Online platform for freelancers to manage their projects and business
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| domain | founded_year | HQ Location |
Cloud-based platform for freelance contract and payment management is offered.
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| domain | founded_year | HQ Location |
Cloud-based freelancer platform for business management
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Xolo
Frequently Asked Questions about Xolo
When was Xolo founded?
Xolo was founded in 2015 and raised its 1st funding round 2 years after it was founded.
Where is Xolo located?
Xolo is headquartered in Tartu, Estonia.
Who is the current CEO of Xolo?
Mikko Teerenhovi is the current CEO of Xolo. They have also founded this company.
Is Xolo a funded company?
Xolo is a funded company, having raised a total of $11.93M across 3 funding rounds to date. The company's 1st funding round was a Seed of $1.53M, raised on Oct 23, 2017.
How many employees does Xolo have?
As of Sep 30, 2024, the latest employee count at Xolo is 167.
What is the annual revenue of Xolo?
Annual revenue of Xolo is $12.11M as on Dec 31, 2024.
What does Xolo do?
Business solutions for independent professionals were established by Xolo in 2015, based in Tartu, Estonia. Tools for financial management, tax processing, and administrative tasks are offered within the fintech sector. Invoicing and payment handling are supported for solopreneurs, along with assistance in business registration and regulatory compliance. Operations aim to address administrative challenges faced by freelancers and self-employed individuals across Europe.
Who are the top competitors of Xolo?
What products or services does Xolo offer?
Xolo offers Xolo Go, Xolo Leap, and Invoicing Tool.
Who are Xolo's investors?
Xolo has 7 investors. Key investors include Taevast.com, Karma Ventures, Vendep Capital, Taavet Hinrikus, and Jaan Tallinn.
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