Wirecard Companions Xolo to Present “Totally Digital Seamless” Banking for Freelancers and Solopreneurs

Wirecard AG (GER:WDI), a multinational web tech and monetary providers supplier which is listed on the German inventory alternate (DAX) and is headquartered in Aschheim, district of Munich, has teamed up with Estonia-based Xolo, an organization that enables entrepreneurs to launch their companies fully on-line. 

Xolo’s providers and Wirecard’s digital banking and card issuing merchandise will probably be used to offer “absolutely digital seamless” banking for enterprise homeowners. 

As famous in a press launch:

“The brand new partnership will allow Xolo, supported by Wirecard’s digital banking providers, to revamp and improve the banking and accounting side of its present platform. The businesses are collaborating throughout the so-called ‘gig economic system’ which refers to digital platforms that enable impartial freelancers to attach with people or companies for short-term providers or asset-sharing.” 

The worldwide gig economic system market was estimated to be price no less than $204 billion in 2018 with a powerful compounded annual development price (CAGR) of 17%.

Greater than 30,000 entrepreneurs have registered to make use of Xolo, which goals to offer a holistic enterprise platform that gives a whole set of providers for establishing companies, together with incorporation, taxation, banking and accounting software program. This permits corporations to function a hassle-free on-line enterprise.

As defined within the launch:

“Leveraging on Wirecard’s banking license, Xolo customers can just about open a enterprise checking account inside 48 hours, obtain a Wirecard-issued debit card, and have the ability to successfully handle their banking, tax and compliance exercise by way of a unified Xolo operation middle.”

Allan Martinson, CEO at Xolo, famous that the brand new partnership represents a notable milestone for his agency because it plans to determine “a brand new digital nation” for freelancers and solopreneurs. 

Marinson added that with the addition of Wirecard’s digital banking providers, his agency will proceed to construct out its imaginative and prescient for “enabling hundreds of thousands of micro-businesses to get to market faster and with out the paperwork.”