Xolo, the Estonian online platform for launching and running one-person businesses, announced on June 16 it has raised €3.2mn and launched its localised service in Spain, to be followed by five other countries in 2021-22.
The investment follows Series A funding of €6mn raised in July 2019, bringing total investment in the company to €11.2mn, according to Xolo.
The investors include Karma Ventures (Estonia), Vendep Capital (Finland), as well as some of the biggest names in technology such as Wise co-founder Taavet Hinrikus, Skype co-founder Jaan Tallinn's Metaplanet Holdings and former LexisNexis CEO Andrew Prozes.
Xolo currently supports more than 75,000 solopreneurs from over 200 countries, generating an annual revenue run-rate of €4mn. Xolo has 80 employees located in Estonia, Spain and four other countries.
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