Consulting Marketplace: Comatch acquired by Freelancer Marketplace Malt
- ByStartupStory | March 28, 2022
French startup Malt is acquiring a competing marketplace focused on consultants and industry experts, Comatch. Originally Comatch started in Germany, which means that with this acquisition, Malt is also doubling down on the German market. Terms of the deal havent been disclosed yet but it still involves a mix of equity and cash.
Malt started as a marketplace that matches with companies looking for talent like freelance developers, designers and other technical workers. Quite a lot of money has been raised by the startup and across multiple European countries, it has managed to attract about 340,000 freelancers.
Over the past few years, Malt has expanded to Germany, Spain, Belgium, the Netherlands and Switzerland , originally limited to the French market. In order to find a freelancer or several freelancers, about 40,000 companies have turned to Malt.
Clients include Unilever, BlaBlaCar, L’Oréal, Lufthansa, Bosch, and Allianz. A lot of large-sized companies have used Malt at some point, have also been noticed so far.
High-skilled freelancing jobs that can fill a gap when a new project comes up has exclusively been focused by Malt. Malt in addition to developers, now also offers opportunities for graphic designers, marketing and communications professionals, and more.
When you’re getting started as a freelancer and you don’t have a big network of potential clients, using a platform like Malt can be particularly useful. The administrative paperwork has also been taken care of with the help of Malt. The clients from Malt can be charged by freelancers directly and, of course, Malt takes a small cut.
The company roughly follows the same model, but with a specific focus on management consultants and industry experts, as for Comatch. Business consultants haven’t been specifically targeted by Malt so far. So a new vertical is being entered by the company.
Malt has also targeted and thought of becoming the go-to freelancer marketplace in Europe. With 80% of publicly traded companies on the CAC 40 and DAX 40, Comatch has attracted 15,000 freelancers across nine markets and the two companies work. An interesting external growth opportunity has been represented by Comatch.
Malt has some ambitious goals, following this acquisition. The company expects to generate €1 billion in business volume by 2024. By the end of 2022, Malt plans to hire another 150 employees.
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