What Xolo does

Xolo OÜ is an Estonia-incorporated SaaS company founded in 2015 that provides compliance, invoicing, taxation, and business administration services to solopreneurs and independent freelancers across 160+ countries. The platform operates three core products: Xolo Go (invoice and receive payments without registering a formal company, supporting multi-currency), Xolo Leap (remote EU company formation via the Estonian e-Residency program with registration in 1-2 days), and Xolo Teams (a B2B freelancer management platform enabling enterprises to onboard, verify, and pay contractors across 186 countries with 3-5% transaction fees). The company supplements these with localized solutions for Spain (autónomo), Italy (Forfettario at €22/month and Semplificato at €79/month), Netherlands (ZZP), and Germany, plus free tools including an invoice generator and freelancer toolkit. Xolo also offers add-on services such as company transfers (Xolo Switch), e-commerce support, and professional tax filing through a partner network of Italian commercialisti.

Underlying the platform is a cloud-based SaaS architecture with web and mobile applications, supported by AI/ML capabilities including LLM-based customer communication classification, automated onboarding eligibility decisions, transaction screening and anomaly detection, and AI-powered KYC/AML identity verification through a Veriff integration. The technology stack emphasizes automation to reduce manual compliance work, with ML models trained on €6B+ in processed invoice data and 1.1M+ client transactions. The platform is GDPR-compliant and integrates with partner banks for business account services.

Xolo's business model combines recurring subscriptions (€22-€79/month for Italian regimes and Leap plans), transaction fees on Xolo Teams payouts, professional service fees for tax filings and add-ons, and a freemium funnel via free invoicing and toolkit products. Go-to-market is predominantly product-led growth with self-serve onboarding, supplemented by community-led acquisition through customer testimonials and partner/affiliate referrals, and a dedicated enterprise sales motion for Xolo Teams. The company has raised approximately $12.8M across five funding rounds (2016-2021) led primarily by Karma Ventures and Mistletoe, with no disclosed post-2021 funding activity. Founded by Mikko Teerenhovi (CEO, previously co-founder of Holvi) alongside co-founders Erko Hansar (CTO), Urmo Pärg, and Erik Mell (CDO), Xolo operates from Tartu (Estonia HQ) with a regional office in Milan, Italy.

Name

Xolo

Legal name

Xolo OÜ

Website

https://xolo.io

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

101–250 employees

Short description

Xolo is an Estonia-founded SaaS platform serving 150K+ solopreneurs globally with company registration, invoicing, tax compliance, and cross-border payment services across 160+ countries, including localized solutions for Spain, Italy, Netherlands, and Germany.

Ownership category

akta.pro rank

Product category

Solopreneur Compliance and Invoicing Software

NAICS

Accounting, Tax Preparation, Bookkeeping, and Payroll Services (54121), Software Publishers (5132)

SIC

Services-Employment Agencies (7361), Services-Computer Programming, Data Processing, Etc. (7370)

akta.pro primary industry

Independent Contractor Compliance & Classification (IC vs Employee) (BPACAGAA)

akta.pro secondary industry

International Payroll & Contractor Payments (FSAMAIAC)

Keywords

• Solopreneur compliance software
• E-residency company formation
• Freelancer invoicing platform
• Cross-border contractor management
• Self-employed tax accounting

Headquarters

HQ city

Tallinn

HQ country

Estonia

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Subscription - Solopreneur Plans: Monthly or annual subscription plans for individual solopreneurs managing invoicing, compliance, and tax services. Includes flat-rate (Forfettario) and simplified (Semplificato) regime options for Italy, with pricing starting at €22/month for flat-rate.
2. Transaction Fee - Xolo Teams: Flat-rate percentage fee (3-5%) on monthly payout volumes to freelancers. Tiered pricing: 5% for up to €15k, 4% for €15k-€50k, 3% for above €50k monthly billing.
3. E-Residency Company Services: Company formation and management services for e-residency program participants, including business registration, banking support, and ongoing compliance services
4. Add-on Services: Additional paid services including Model Redditi PF tax filing (€180), VAT termination (€100), sole proprietorship variations (€50), and active repentance services (€10)

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

Xolo provides an all-in-one SaaS platform that enables solopreneurs and independent freelancers to register companies (including via Estonian e-Residency), invoice clients in multiple currencies, and manage taxes and accounting without bureaucratic overhead. For businesses, the platform offers Xolo Teams to discover, onboard, manage, and pay international freelancers across 186 countries with compliance and multi-currency support. The offering combines company registration, professional invoicing, automated tax calculations, and cross-border payment services tailored for one-person businesses and enterprise contractor workforces.

Product overview

Xolo is a platform offering a suite of solutions for solopreneurs and businesses. The core products include XOLO Go (invoicing without a company), XOLO Leap (e-Residency company formation), and XOLO Teams (freelancer management for enterprises). These are supplemented by local solutions in Spain, Italy, and the Netherlands, free tools like an invoice generator and freelancer toolkit, and add-on services for e-commerce and company transfers. The platform handles business registration, invoicing, tax and accounting services, multi-currency payments, and compliance across 160+ countries.

Differentiator

Problem solved

Functional benefit

Brands

• Xolo Go: Invoice and get paid without a company - enables freelancers to provide professional services via virtual company with standard agreements and business account
• Xolo Leap
• Xolo Teams
• Xolo Italia

Products and services

• Xolo Go A solution enabling freelancers and solopreneurs to invoice clients and receive payments without needing to register a formal company, supporting multiple currencies.
• Xolo Leap An e-Residency company formation and management service that enables entrepreneurs to remotely launch and run an EU business from anywhere in the world.
• Xolo Teams A freelancer management platform for companies to discover, hire, onboard, manage, and pay freelancers across 186 countries with compliance and multi-currency support.
• Xolo Switch A service for transferring an existing company to Xolo's management platform.
• Xolo Spain (Autónomo) Tailored solution for working as an autónomo (self-employed) in Spain, including VAT registration, tax filing, and compliance.
• Xolo Italy Sole proprietorship and business registration service in Italy with flat-rate (Forfettario) or simplified regime options.
• Xolo Netherlands Business management tools for ZZP'ers in the Netherlands including invoicing, accounting, and tax reporting.

Quantifiable outcome

• 150K+ solopreneurs using the platform globally
• +4 more outcomes

Named customers14 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability6 records

Feature6 records

Partnerships

Four partnerships are on record, tiered core.

• Estonian E-Residency ProgramcoreStrategic or Co-development PartnerXolo is the primary service provider for Estonian e-residency program, enabling entrepreneurs worldwide to remotely establish and manage EU-based companies. This partnership is foundational to Xolo's core Leap product offering.
• VeriffcoreTechnology or IntegrationAI-powered identity verification partner for freelancer onboarding on Xolo Teams platform. Veriff provides KYC/AML compliance verification ensuring contractors are who they claim to be and are not on sanctions lists.
• Italian Chartered Accountants (Commercialisti)coreImplementation/ SI/ Consulting PartnerPartner network of enrolled Italian accountants providing tax consultancy services for Xolo Italy customers. Xolo's platform connects customers with professional accounting support for tax filings and compliance.
• Partner BankscoreTechnology or IntegrationFinancial service providers offering banking services to Xolo customers and their legal entities. Banks facilitate payment processing and business account services essential for company operations.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Holvi: European fintech providing business banking and financial admin for freelancers and small businesses. Founded by Xolo CEO Mikko Teerenhovi as a direct predecessor to Xolo; both target the same solopreneur/SMB segment with banking-adjacent services.
• Deel: Global contractor and employer-of-record platform enabling companies to hire, onboard, and pay freelancers and full-time employees across 150+ countries. Directly comparable to Xolo Teams on cross-border contractor compliance and payment.
• Remote: Global HR platform for hiring international contractors and full-time employees with built-in compliance, payroll, and benefits. Closely comparable to Xolo Teams' value proposition of managing international freelancer engagements.
• Stripe Atlas: Service for founders to incorporate US and international companies, open bank accounts, and manage tax/legal basics online. Comparable to Xolo Leap's remote company formation and ongoing compliance offering.
• Firstbase: Remote company formation and management platform focused on US LLCs and Delaware incorporation for global founders. Overlaps with Xolo Leap on cross-border company formation plus ongoing admin and tax compliance.

Broad incumbents

• Payoneer: Established cross-border payments platform for freelancers, marketplaces, and SMBs to receive international payments in multiple currencies. Comparable to Xolo Teams' multi-currency freelancer payouts but at much larger scale.
• Wise: Global multi-currency account and cross-border payment platform widely used by freelancers and SMBs. Comparable to Xolo Teams' international payout capability, though broader in scope beyond contractor use cases.

Emerging players

• Pleo: European SMB fintech providing company cards, expense management, and accounting automation. Comparable to Xolo's invoicing and accounting features for European solopreneurs and small businesses.
• Mercury: US-focused digital business banking platform popular with startups, indie hackers, and remote founders. Overlaps with Xolo Leap on serving location-independent founders running their own businesses.
• Mangopay: Platform payments provider powering marketplaces and freelance platforms with pay-in, payout, and KYC infrastructure. Comparable to Xolo Teams on the contractor/marketplace payment and compliance backbone.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/xolopreneur
• Facebookfacebook.com/xolopreneur

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries2 records

Funding overview

Funding rounds5 records

Investors9 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Xolo