Capitalia fund invests in Estonian start-up

Italian peer-to-peer lending platform Capitalia has used its co-investment fund to back an Estonian start-up, in partnership with Karma Ventures.

This marks the tenth investment for the Capitalia Co-Investment Fund, which launched in the autumn of 2021.

The fund has invested €150,000 (£130,000) in Xolo, a platform which enables freelancers to set up and run their businesses.

“Meeting new Baltic startups and assisting in their growth path is very satisfying and Xolo is no exception,” said Capitalia’s fund manager Gintaras Matuzas.

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“We cannot wait to see what new developments the company will experience with the help of our investment and we are glad to offer our investors and the Baltic companies the possibility to boost the region’s economic growth.”

Capitalia’s Co-Investment Fund has invested more than €2m into 10 European start-ups since it was launched in 2021. These include Cenos, Inzmo, Scratcher, Aispeco, Ondato, Aerones, Giraffe360, Favro, and Bolt.

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The fund has a minimum investment of €30,000, and aims to support the growth of “dynamic and fast-growing technology companies in the Baltic States”.

Xolo’s chief executive Mikko Teerenhovi said that he has “a lot of ambitious plans for the future.”

“It’s great to find like-minded investors in the Baltic states,” he added.

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