Xolo (formerly known as LeapIN), a Tallinn, Estonia-based online platform for launching and running one-person businesses, completed a $6.8m (€6m) Series A funding.
The round was led by Karma Ventures (Estonia), Vendep Capital (Finland), and Leap Ventures (France).
Led by Allan Martinson, Chief Executive Officer, Xolo will provide a new virtual service which will enable professional freelancers to reduce the complexity and cost of engaging with national governments and operate in a borderless world.
The company has been offering a full suite of services for global freelancers from 2015, including an online company formation service, banking, accounting and compliance.
It will now offer two products:
– Go, which will launch freelancing businesses in minutes complete with dedicated bank accounts, invoicing, expense management and payouts.
– Leap, which allows EU-registered companies obtain full banking, accounting and tax compliance services based on Estonia’s e-Residency system.