Xolo vs Ruul: Which Freelancer Invoicing Platform is Best?

Elena Prokopets
Written by Elena Prokopets
on August 07, 2023 5 minute read

Whether you’re a seasoned freelancer or just starting out on the side, figuring out your invoicing process will be a big task. You’ll want to get paid fast and without crippling fees. And there are also compliance and tax reporting requirements to keep in mind.

Invoicing apps like Xolo Go and Ruul reduce the costs and complexities of getting paid internationally. Today you’ll hopefully gain more insight on which product would best suit your needs. 

Benefits of using an invoicing tool 

Invoicing freelance clients can be the best and the worst kind of experience. Without good invoicing software, getting hard-earned cash into your bank account can be a tax and compliance nightmare — especially if you’re doing business globally. 

A user-friendly invoicing platform helps: 

  • Streamline document generation. Create professional invoices in several clicks using premade, customizable templates. 
  • Quicken payments. Get paid faster with integrated online payment processing tools for instant client payment collection. 
  • Reduce errors. Avoid manual data entry to avoid mistakes in invoice numbering, pricing, taxes and discounts.  
  • Maintain compliance. Maintain clear records for easier bookkeeping and tax reporting purposes. 

Xolo Go vs Ruul: Side-by-side comparison

Deciding between different invoicing apps is tricky. You have to compare the features, the fees, and the eligibility requirements. 

To make your job easier, we’ve lined up all the key considerations for Xolo Go vs Ruul. 


Xolo Go 



Invoice like a company without registering one. 

Global B2B invoicing solution for independent talent.

Who is it best for? 

Location-independent freelance service providers looking for a convenient, cost-effective and compliant global invoicing app with integrated banking. 

Part-time freelancers and beginners, looking for an easy way to invoice for occasional work. 


186 countries  🌍

150 countries  🌍

Setup time & ease 

10 minutes 

To start using Xolo Go, you’ll only need a valid email address and a copy of your ID.

Once you’re done with the account setup, you can start invoicing clients immediately. 


Ruul requires an extra onboarding step, where you need to authorize them as your digital service reseller.

After your account is reviewed, you can start sending client invoices. 

Customizable invoices



Invoice count



Recurring invoices


Program repeat invoices to specific clients to be auto-dispatched every week/month.

No recurring billing options are available at present. 

Automated VAT calculations



Supported payment methods

  • Bank transfers 
  • Debit and credit cards
  • Bank transfers 
  • Debit and credit cards

Number of supported Currencies




Global currencies 

Minimum invoicing amount 


100 EUR or equivalent for each supported currency. 

Transaction fees

Flat rate of 5.9% per paid invoice.

Extra 1.9% charge for card payment processing 

From 2.75% per paid invoice.

Extra variable charges may apply for SWIFT transactions. 

Integrated business banking


Receive a business bank account number (IBAN) to receive client payments, as well as tools to process card payments. 

⏳Coming soon 

Ruul has announced, but not yet released integrated banking services for freelancers. 

You’ll need to provide your IBAN number to receive bank transfers from clients. 

Payout time to bank account

1 working day 

18 hours on average 

Invoice reminders


Auto-send payment reminders on every overdue invoice. 

Not available at present. 

Business expense reimbursement


Financial analytics 


Monitor your business income and expenses in real-time. Xolo Go auto-displays all incoming payments and expenses, including paid taxes and reimbursed out-of-pocket spending. 


See all your Ruul earnings on a dashboard. You can also manually add income from other sources and incurred expenses to get more accurate insights. 

Access to a freelance marketplace


Get new high-quality gigs by registering with Xolo's talent match-making ecosystem. 

No talent marketplace is available at present. 

Option to incorporate as a legal entity


Establish and remotely operate a European limited liability company (LLC) by switching to Xolo Leap

No company incorporation services are available. 

Tax and account assistance 


Available as an add-on service for Xolo Leap users, as well as independents in Spain, Italy and Estonia.  


Tax Compliance is available as an add-on feature. 

Why Xolo Go is the best alternative to Ruul 

Xolo Go and Ruul enable independent workers to legally invoice clients like a company without registering one. 

Xolo Go, however, offers access to a wider range of features, ranging from in-built cash flow analytics to automatic invoice payment reminders. Moreover, you can benefit from a fixed flat-rate commission and some cool add-on services. 😎

Claim business expenses 

Banking fees, business software or even a new laptop — these are all examples of deductible business expenses for freelancers.

Pay for operational expenses out-of-pocket, then reimburse yourself with business funds to legally reduce your tax bill and avoid stretching your personal budget. 

With Xolo Go, you can easily upload all your receipts, going up to 2 months backward, and get auto-reimbursed to your personal account. We also keep neat transactional records of all the in-and-out money flows, which you can download anytime and share with your accountant. 

Since Ruul doesn’t provide freelancers with a business bank account at present, you cannot claim and reimburse expenses via their invoicing app. 

Predictable commission 

Unlike other popular invoicing apps, Xolo Go and Ruul don’t have any account setup or monthly subscription fees. So that’s one less expense to budget for! But each provider charges a commission on each processed payment. 

With Xolo Go, you need to remember just two numbers:

  • 5.9% — a flat-rate fee we charge on every payout to your personal bank account. This means we get paid only when you do. You don’t have to worry about covering any fees before the money hits your account. 😎
  • 1.9% — an extra card payment processing fee, taken out of each client invoice, paid by a debit or credit card (e.g., Visa, Mastercard, AmEx). 


The fees are set in stone and don’t depend on the payout currency, invoice total or the client’s location. So you can easily budget for these or even pass them on to your clients by including these in your freelance rates

Ruul pricing is more complex with variable rates based on currency exchange pairs, client’s and freelancer’s bank account locations and payment method. 

For example, the effective commission rate is 6.9% for a £250 invoice from an India-based freelancer to a UK-based business. That said, commission for same-currency invoices (e.g., EUR to EUR) can be as low as 4%.

Also, unlike Xolo Go, Ruul has a minimum invoice size of €100, which makes it less suitable for test or small-scale projects. 

You can estimate the fees upfront using an on-site calculator, which is convenient. Still, this is some extra math you have to do to figure out if Ruul invoicing software is worth using for every project. 

Upgrade to a registered company by switching the plan

Xolo Go lets you invoice like a legal entity without operating one. 

But should you ever decide to switch from part-time freelancing to full-time business ownership, we will still have your back! 

You can easily convert your Xolo Go account to a Xolo Leap one. Xolo Leap is our human-led and software-augmented service for easy company incorporation and management via the Estonian e-Residency program

With Xolo Leap, you can set up a European LLC for under €500 and run it from anywhere on the planet, fully remotely. Our world-class accounting team will support you at every stage — from company registration to ongoing compliance, recordkeeping, and tax reporting. 

Although Ruul is a fellow Estonian business 🇪🇪, they don’t offer any company incorporation services at present. 

Ruul vs Xolo Go: TL: DRs 

Xolo Go and Ruul both offer global invoicing software. But Xolo Go does a bit more than just giving access to an invoice generator and online payment collection.

With our invoicing app, you also get:

  • Slice of our company, like our VAT number for legal invoicing 
  • Business bank account number in Europe
  • Same-day payouts to your personal bank account 
  • Recurring invoices and automatic payment reminders 
  • Analytics dashboard for tracking your spending 
  • Easy tool for expense reimbursement 


… Plus access to a curated freelance marketplace with high-paid jobs and add-on services for scaling your business.

Test-drive Xolo Go for free. We only get paid when you do!

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About Elena

Elena Prokopets writes content for tech-led companies & software development businesses, marketing to them. Her empathy for the customer, expertise in SEO, and knack for storytelling help create content that ranks well and drives industry conversations.

Elena uses Xolo so she can focus on her solo B2B content writing business without stressing over the compliance and admin overhead.

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