The French startup Malt is launching a $ 28.6 million (€ 25 million) round of financing. Idinvest Partners is leading the round and existing investors ISAI and Serena are participating. In total, the company has raised $ 36.6 million since its inception (€ 32 million).
Malt has created a marketplace for engineers who work as freelancers and companies. There are currently 100,000 freelancers on the platform and 15,000 companies use Malt regularly.
With today's financing round, the company wants to expand 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 believes that hiring freelancers can be a great alternative to large IT consulting firms. Every time a freelancer accepts a job, customers rate the freelancer. That way, customers can know for sure that someone is a capable developer.
On the other hand, freelancers do not necessarily have all the connections to find self-employment. Malt can help you work with more companies. The startup also acts as a kind of broker. You do not have to send emails more weeks or even months after completing a job to get your money. Malt takes care of all the annoying administrative tasks. Freelancers also get some offers on benefits, health insurance, etc.
Large French companies such as Accorhotels, Société Générale and BlaBlaCar use malt. 75 percent of the 40 largest French public companies of the CAC40 have ever worked with a Malt Freelancer. And if your big company does not know much about data science, devops, and other jobs, malt can help you find freelancers for you.