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Cobalt and Eversheds Sutherland Advise on Karma Ventures Investment in Xolo

Cobalt and Eversheds Sutherland Advise on Karma Ventures Investment in Xolo

Estonia
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Cobalt has advised Karma Ventures on a series A round investment in Estonia's Xolo. Eversheds Sutherland Ots & Co advised Xolo on the deal.

Vendep Capital in Finland and Leap Ventures in France also participated in the round.

Xolo, which operated before as LeapIN Business Services OU, helps users set up independent businesses and operate them virtually in Europe. The company takes care of business banking, accounting, and compliance. According to Cobalt, "Xolo helps remove the barriers for people looking to start a one-person business by providing a simple-to-use platform and advisory service which helps take care of financial and legal factors associated with setting up a business." Xolo is part of the Estonian e-Residency program that enables new micro-businesses to enter the market. 

With USD 6.8 million financing secured, Xolo, formerly known as LeapIN, will now offer two products: Xolo Go and Xolo Leap. Xolo Go will allow users to launch a freelancing business in minutes as a virtual company, with a dedicated bank account, invoicing, expense management, and payouts. Xolo Leap allows users to launch an EU-registered company with full banking service, accounting, and tax compliance.

Vendep Capital invests primarily in Finnish early-stage B2B software companies. 

Leap Ventures is a tech-focused entrepreneur-led venture capital firm that operates in MENA and Europe. 

Karma Ventures is an early-stage venture capital firm, specialized in late seed and A round investments in European tech startups. 

Cobalt's team consisted of Partner Kristel Raidla-Talur, Senior Associate Greete-Kristiine Kuru, and Associate Sven Bottcher.

The Eversheds Sutherland Ots & Co team was led by Partner Maivi Ots and assisted by Legal Counsel Marten Amjarv. 

Cobalt has previously advised Karma Ventures on investments in Infermedica (as reported by CEE Legal Matters on June 17, 2019), Realeyes (as reported on May 29, 2018), AppGyver, Plumbr, SpectX, Adaptive Simulations, Minut, Inc., Sonarworks, CGTrader, and MeetFrank.

 

 

 

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Estonian Knowledge Partner

COBALT is closely integrated alliance of top-tier law offices in Estonia, Latvia, Lithuania and Belarus, making us one of the largest law firms in the Baltic market. 

COBALT is a trusted partner for daily matters and complex large-scale transactions and disputes. The firm’s broad spectrum of expertise and established position as the market leader give a comprehensive basis for providing advice on special areas of business law.

We advise top international and regional businesses, financial institutions, state and local governments, and the region’s most promising start-ups. We offer leading-edge solutions in key industry sectors: Consumer Products, Trade & Distribution, Real Estate & Construction, Pharmaceuticals & Healthcare, Energy & Utilities, Communications, Media & Technologies, Financial Services, Transport & Logistics.

COBALT has been named Baltic Law Firm of the Year 6 times. We were recognized as the Most Innovative Law Firm of the Year 2019 in the Baltics at the IFLR European Awards in London. COBALT also won CEE Legal Matters Deal of the Year Award for Estonia, Latvia, and Lithuania, as well as the overall Baltic Deal of the Year, at the 2019 CEE Legal Matters Awards. We have received multiple awards from the Chambers Europe, IFLR, The Lawyer and Mergermarket and we are regularly listed amongst the top performing M&A legal advisors in the Bloomberg, Thomson Reuters and Mergermarket deal tables

More information on Cobalt can be found at www.cobalt.legal

All News about Cobalt can be found here.

 

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