Freelance marketplace Malt acquires consulting marketplace Comatch – TechCrunch

This is the time of consolidation in the freelance market industry. French startup Malt acquires Comatch, a competing marketplace focused on consultants and industry experts. Comatch originally started in Germany, meaning Malt is also doubling down on the German market with this acquisition. Terms of the deal are not disclosed, but it involves a mix of stock and cash.

Malt started out as a marketplace that connects indie developers, designers, and other tech workers with companies looking for talent. The startup raised a lot of money and managed to attract 340,000 freelancers in several European countries.

Initially limited to the French market, Malt has expanded in recent years to Germany, Spain, Belgium, the Netherlands and Switzerland. 40,000 companies have turned to Malt to find one or more freelancers.

Customers include Unilever, Lufthansa, Bosch, BlaBlaCar, L’Oréal and Allianz. As you can see, many large companies have used Malt at some point.

Malt focuses exclusively on high-skilled freelance jobs that can fill a void when a new project arises. In addition to developers, Malt now also offers opportunities for marketing and communication professionals, graphic designers, etc.

Using a platform like Malt can be especially helpful when you’re starting out as a freelancer and don’t have a large network of potential clients. Malt also helps you take care of the paperwork. Freelancers can bill their clients directly to Malt and, of course, Malt takes a small cut.

As for Comatch, the company follows much the same model, but with a particular focus on management consultants and industry experts. Malt has not specifically targeted business consultants so far. The company is therefore entering a new vertical.

“Comatch is a champion in the field of business consulting marketplaces. As a corporate partner who shares Malt’s “community first” approach, putting our talents at the heart of the product and the business in our vision for the future of work, we look forward and excited to bring our two worlds of highly skilled freelance workers,” Malt co-founder and CEO Vincent Huguet said in a statement.

Malt also wants to become the essential market for freelancers in Europe. Comatch has attracted 15,000 freelancers across nine markets and the two companies work with 80% of CAC 40 and DAX 40 listed companies. Comatch represents an attractive external growth opportunity.

Following this acquisition, Malt has an ambitious goal. By 2024, the company expects to generate 1 billion euros in business volume. And Malt plans to hire another 150 employees by the end of 2022.

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