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Ruul (company)
Type: Private

Industry: Financial Technology, Remote Work, Invoicing and Payment Collection

Overview
Ruul is a financial technology company based out of Malmö, Sweden. The company provides tools and services for freelancers to invoice businesses without having to form a company. Ruul defines their company purpose as “Enabling irregular work* for talents who choose to work in the freelance space for a more flexible work-life balance.

Founded in 2016 by Turkish siblings Esen and Mert Bulut, the company offers solutions for global invoicing and payment collection for freelancers, also enhancing their freelance experience by providing financing solutions for their services. The platform supports freelancers and businesses in 190 countries, offering a range over 140 currencies for their invoicing needs.

History
Ruul.io was founded in 2016 when Mert Bulut, frustrated by delayed freelance payments, teamed up with his sister Esen Bulut. Initially named Rimuut, the company rebranded as Ruul in 2022. Ruul.io quickly expanded its user base, experiencing significant growth during the pandemic. Headquartered in Sweden, Ruul operates through its multi-entity structure delivering localized services to provide compliant invoicing service to its users..

Products and Services
- Global Invoicing: Allows freelancers to send business-friendly invoices to their clients.

- Payment Collection: Allows freelancers to collect payments for their services

- Early Pay: Enables freelancers to get paid in advance for their invoices with a payment term.

- Crypto Payout: Allows freelancers to collect their payouts in cryptocurrency.

Expansion and Growth
Ruul.io grew twentyfold during the pandemic, with its network now including over 75,000 freelancers and 20,000 businesses.

Recognition
Ruul.io has been featured in major publications such as Forbes, Business Insider, and Yahoo Finance. The company has been recognized for its contributions to the fintech industry and the remote work ecosystem.