Xro, Dil, SNAKK, etc. They're all risky - that's what some of us like about them and the challenge, and potential upside they have. Otherwise you invest in Ryman, Sommerset, POT, etc.
If Xero wanted to play it to some investors they would purely concentrate on Australasia. But going big globally increases the risk, of course, and increases the reward. The recent doubling of revenue shows that they are delivering so I won't use the wording 'risky as hell. They are a ways down the road but a lot of highway ahead, so good they have cash to utilise.
'Risky as hell' could be more applied to Snakk, if all be said.
I am a holder of Xero and Snakk.