Malt raises $28.6 million for its freelancer platform
French startup Malt is raising a $28.6 million funding round (€25 million) with Idinvest Partners leading the round and existing investors ISAI and Serena also participating. Overall, the company has raised $36.6 million since its creation (€32 million).
Malt has created a marketplace for engineers working as freelancers and companies. There are currently 100,000 freelancers on the platform and 15,000 companies using Malt regularly.
With today’s funding round, the company wants to grow its platform in other European countries. There are 10,000 freelancers on the platform in Spain, and the company plans to open new markets, starting with Germany and the Netherlands.
The startup thinks that hiring freelancers can be a great alternative to big IT consulting companies. Every time a freelancer accepts a job, clients rate the freelancer. This way, clients can know for sure that somebody is a capable developer.
On the other side, freelancers don’t necessarily have all the connections to find freelancing jobs on their own. Malt can help you work with more companies. The startup also acts as a sort of broker. You no longer have to send emails weeks or even months after completing a job to get your money. Malt takes care of all the pesky admin tasks. Freelancers also get a few deals on benefits, health coverage, etc.
Big French companies, such as Accorhotels, Société Générale and BlaBlaCar use Malt. 75 percent of France’s top 40 public companies in the CAC40 have worked with a Malt freelancer at some point. And if your big company doesn’t know much about data science, devops and other jobs, Malt can help you find freelancers for you.