Malt Raises €80M to Strengthen Its Marketplace Leadership Position in the Freelance Consulting Sector
PARIS, June 1, 2021 /PRNewswire/ -- Malt, the leading European freelance consulting marketplace, entered into exclusive negotiations for a new funding of 80 million euros, led by Goldman Sachs Growth Equity and Eurazeo, to accelerate its tech development and international expansion. This funding will enable Malt to reinforce its leadership position within the freelance consulting market, currently estimated at 350 billion euros in Europe alone, by providing a "one-stop-shop" where freelance talent and companies can join forces to fuel digital transformation.
Malt is raising 80 million euros to support the continued growth of its tech-enabled freelance consulting marketplace. This fundraise is even more critical in a post-COVID-19 world, where companies will look for external consultants and freelance talent to help them accelerate their digital transformation more than ever before.
Malt's innovative marketplace instantly and accurately matches the right freelance talent to businesses' project needs. It also offers secure and streamlined solutions for both parties to manage the freelance relationship, from issuing a brief to payment at project completion.
This new funding adds prominent investors Goldman Sachs Growth Equity and Eurazeo to existing investors, Isai and Serena, to support Malt's ambitious growth strategy. This investment will enable Malt to invest further in its product and tech platform, expand into new countries, and pursue an acquisition strategy to accelerate its expansion as a global leader in the freelance consulting sector.
Malt plans to disrupt the broader European freelance consulting market, currently estimated at 350 billion euros, by bringing its technology and unique freelance talent matching capabilities to employers and partners in new markets and sectors. With a strong presence in France (Paris, Lyon), Germany (Munich), and Spain (Madrid) pre-pandemic, and boosted by a massive shift towards remote working throughout the COVID-19 crisis, Malt is expected to grow its revenues by 100% in 2021.
As the first marketplace to fundamentally overhaul the 'power balance' dynamic between freelancers and the companies seeking their expertise and support, Malt has established itself as a driving force in the transformation of Europe's labor market, with a goal of reaching one billion euros in revenue by 2024.
Malt's unique value proposition revolves around its sophisticated tech platform and its vibrant and growing community of over 250,000 freelancers. This new round of funding will support Malt's philosophy to empower freelancers to be the catalysts of a "new work order", a world where everyone has the power to choose who they want to work with.
"Today, there are six million freelance consultants in Europe, a number that is set to grow exponentially in a rapidly changing post-COVID job market. At Malt, our goal is to give companies direct access to a pool of the most qualified and talented freelancers in the world, those who can help them take their businesses to the next level. This latest round of funding underscores the power of both Malt's business model and our dedicated community of freelancers, and we are pleased to have Eurazeo and Goldman Sachs join our historical investors, Isai and Serena, to support our ambitions."
– Vincent Huguet, CEO and Co-Founder at Malt
"We are delighted to support Malt to build the leading freelance marketplace in Europe. Malt is at the forefront of the future of work, promoting agility, innovation, impact, freedom of choice, making freelancing simpler and more reliable. We are excited to partner with Malt's founders, empower their community of highly skilled freelancers, and give companies access to the world's best freelance talents."
– Alexandre Flavier, Executive Director at Goldman Sachs Growth Equity
"Malt is at a pivotal time in its development. This new round of funding will allow the company to scale rapidly and drive even greater impact. We are excited to partner with Vincent and Alexandre—and offer the expertise of our Growth and Venture teams along with the depth of Eurazeo's network in Europe—to drive Malt's future success."
– Yann du Rusquec, Partner at Eurazeo
To know more: www.malt.com
About Malt:
Founded in 2013 by Vincent Huguet (CEO) and Hugo Lassiège (CTO), with Alexandre Fretti as Managing Director, Malt is a European marketplace where more than 250,000 freelance consultants put their skills and expertise at the service of companies looking for external talents to accelerate their projects. It already has more than 30,000 clients, including 36 CAC 40 companies. With 200 employees (50% women and men), Malt is present in France, Spain and Germany. Malt has been supported since its launch by prominent investors: Antoine Freysz (Kerala), Marc Fournier (Serena), Jean-David Chamboredon (Isai), and Nicolas Debock (Eurazeo). www.malt.com
About The Growth Equity team in Goldman Sachs Asset Management:
Founded in 1869, The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm. The Growth Equity team in Goldman Sachs Asset Management is the dedicated growth equity team within Goldman Sachs, with over 25 years of investing history, over $8 billion of assets under management, and 9 offices globally. To read more, visit: https://growth.gs.com/homepage.html
About Eurazeo:
Eurazeo is a leading global investment group, with a diversified portfolio of €21.8 billion in Assets Under Management, including €15 billion from third parties, invested in 450 companies. With its considerable private equity, private debt and real assets expertise, Eurazeo accompanies companies of all sizes, supporting their development through the commitment of its nearly 300 professionals and by offering deep sector expertise, a gateway to global markets, and a responsible and stable foothold for transformational growth. Its solid institutional and family shareholder base, robust financial structure free of structural debt, and flexible investment horizon enable Eurazeo to support its companies over the long term. Eurazeo has offices in Paris, New York, São Paulo, Seoul, Shanghai, Singapore, London, Luxembourg, Frankfurt, Berlin and Madrid. Eurazeo is listed on Euronext Paris.
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