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Ray Nolan

Ray Nolan 99
  • Industry Technology
  • 2019 Worth €160 m (-3.03%)
  • 2018 Worth €165 m
  • Progress - 4

Serial tech entrepreneur and investor Ray Nolan (52), who is from Malahide, is on his third venture these days with Xsellco, an online sales and customer support management firm that last year was named Ireland's fastest growing tech firm by Deloitte. It's grown by 2,874pc over the last four years. The rugby and boxing enthusiast has plenty of money to invest in fellow startups thanks to the €100m he made from the sale of Hostelworld, a booking site he founded with Tom Kennedy. He banked a second windfall of about €35m when Ctrip, China's biggest online travel business, bought travel search firm Skyscanner for $1.75bn in 2016.

Accounts for Xsellco show it owed Nolan €3.5m at the end of 2017, and had a shareholders' deficit of €4m. Nolan is an investor in rugby app Ultimate Rugby with former Ireland rugby captain Brian O'Driscoll. He has also backed Mark Roden's Ding, Asavie and Whatclinic. He may have got a windfall when Spotify took over Soundwave, and when Mark Little's Storyful sold for €22m in 2013.

Clearly a fan of Little, he has backed his latest news app venture, Kinzen. Nolan is known for liking fast cars and is also believed to share a Pilatus PC-12 plane with Kerry entrepreneur Jerry Kennelly.

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