The freelance platform Malt raises 80 million euros

The freelance platform Malt raises 80 million euros

The freelance platform Malt raises 80 million euros.

Introduction.

The Malt platform dedicated to freelancers announced fundraising of 80 million euros, led by the duo Sachs Growth Equity and Eurazeo as well as Isai and Serena. The company suggested that it not only wanted to broaden its field of intervention to offer its services to a greater number of freelancers and firms but also to continue its international expansion.

Freelancers are on the rise in the world.

Following the health and economic crisis, many French people have decided to review their way of working by becoming independent. A profitable approach for many companies, many of them finally turned to them.

“In France, there are now almost a million freelancers. If we really take only those in Tech, we are around 600,000-700,000. This figure is 6 million in Europe. We have just completed a study with the consulting firm Roland Berger. We estimate the market at 350 billion euros in Europe and 650 billion in the United States ”, indicates Vincent Huguet, co-founder, and CEO of Malt.

Thus, well aware of the increasingly important place these workers take in the landscape of a company, Malt designed in 2013 a platform that matches the profile of an independent with the needs of a firm. It charges a commission of between 5% and 10% of the service invoiced. The more the freelancer works with a client, the more this percentage decreases. As for the firms, the commissions are a little higher: between 5% and 15%.

Malt wants to broaden its field of intervention and continue its international expansion.

Today, Malt claims 250,000 freelancers on its platform, as well as 30,000 clients, including 36 CAC 40 companies. To continue its ascent, it is banking on this fundraising, which will allow it to broaden its field of intervention. Indeed, even if its services remain mainly focused on tech professions, the French company had already taken a step forward to offer more areas of activity. “We are interested in all the trades present in a company. Human resources, legal, all functions are concerned and we want to become a central point for the needs of companies ”, underlines Alexandre Fretti, CEO of Malt.

Through this operation, Malt also wishes to accelerate its international development. Already present in Germany, Spain, and Belgium, it will soon be launched in the Netherlands and Italy. In addition, the company wants to buy out its competitors in countries where the market for freelance providers is already well developed, such as the United Kingdom and Scandinavia. “With the crisis, some companies need a second wind, because they have burned a lot of money,” notes Alexandre Fretti. “We can have a convergence of interests”. The misfortune of some could ultimately make Malt happy.

The company is gradually tracing the rest of its career, always with the valuation of freelancers at the heart of its development. To do this, she offered 150 of them the opportunity to become shareholders of the firm. After some negotiations, the investors agreed to dedicate an envelope of one million euros to it. The criteria for choosing freelancers are yet to be discussed, but Malt's first shareholders will become so in the coming months. “It is a symbolic act but we also hope that it will become a differentiating axis compared to our competitors”, declares the CEO.

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