Malt Has Raised $97M For Its Freelance Marketplace
Malt, an ambitious startup is announcing a significant round of funding towards its business with hopes it will expand significantly within one year’s time. The company created an online marketplace where freelance developers, designers, or other technical experts can find temporary job opportunities without having to hunt them down themselves – making this process easier than ever before.
Malt has raised $97m for its freelance marketplace
Malt, the leading job-matching service for technical professionals in data science and related fields, has raised €80 million ($97 million) to expand its operations. The investment was led by Goldman Sachs Growth Equity with a contribution from Eurazeo valuing Malt at €400 million ($489 million).
Malt is an online platform that connects qualified technologists such as developers, designers, and project managers across industries like healthcare or finance. With this investment of 80 mil euros (approximately 97 mil dollars), they plan on expanding their services into more markets beyond France where it primarily operates today.
Vincent Huguet, Malt’s CEO co-founder of Malt, along with Hugo Lassiège and Jean-Baptiste Lemée has said recently,
“Part of recent funding will be used toward continuing to expand the company across Europe. The plan is for them to break into other countries such as Spain (Madrid), Germany (Munich) France (Paris), and Italy next followed by Holland or Benelux then finally breaking into America where they hope their European expansion can create something more than just work culture but also American values.”
The company has gathered 250,000 freelancers in its community with 30,000 businesses tapping this pool of talent, to date. End customers include the likes of Unilever and Lufthansa along with other big-name companies like Bosch and BlaBlaCar.
The company also partners up with traditional consultancies such as McKinsey who use their skill set for projects that need freelance help. In total since being founded 3 years ago, they have managed some €300 million in business deals so far!
The CEO, Vincent Huguet stated,
“The most important thing is that we are a very open marketplace, an Airbnb-style search marketplace. It’s all really based on our search engine. It also provides payment services and advanced solutions for some of its customers once people are engaged.”
The thought of freelancing can be a daunting one. That is until you realize that the number of freelance employees in Europe alone has reached an impressive 6 million people and it’s estimated to have some €350 billion worth annually.
Malt offers temps with online recruitment services; this way they don’t need to worry about any negotiations for benefits or health insurance coverage because as independent contractors everything will come out on their paycheck at tax time!
Read More: Accelerator vs Incubator: Which is For You?
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