Image credits: Malt
Malt, a Paris-based freelancer marketplace, announced on Monday that it has acquired Berlin-based consulting marketplace COMATCH.
While the terms of the deal have not been disclosed, the acquisition involves a mix of equity and cash, reports TC.
Will AI be able to disrupt the translation market? Find it out.
Why this acquisition?
Malt claims that the acquisition helps it strengthen its product offering from high-skilled freelancers to business consultancy.
With a freelancing market valued at €355B, Malt aims to solidify its position and become the preferred partner for companies seeking external resources.
With a community of 340,000 freelancers, Malt now offers a comprehensive network of high-skilled freelancers and management consultants.
Combined, the two companies work with 80% of publicly traded companies on the CAC-40 and DAX-40.
According to the company’s claims, Benelux is one of the focus areas and has an estimated market value of €51B, of which the Netherlands is €37B and Belgium €14B.
Following this acquisition, Malt expects to generate €1B in business volume by 2024 and plans to hire 150 employees by 2022.
COMATCH: What you need to know
Founded by Dr. Christoph Hardt and Dr. Jan Schächtele, COMATCH is a marketplace for top freelance management consultants and industry experts. The platform combines personal service and innovative technology to quickly and flexibly find the best experts for all business challenges.
The platform has a strong community of more than 15,000 top independent management consultants and industry experts. Since its inception, the company has grown across nine markets with 130 full-time employees.
Dr Christoph Hardt, Comatch Co-Founder and Managing Director, says, “Malt is Europe’s leading marketplace especially for digital freelance talent while Comatch is the largest European consulting marketplace. We believe in a future where technology and business consulting continue to grow closer together, which is why we are very excited to jointly build Europe’s undisputed leading marketplace where organisations can find the best independent professionals for any possible project.”
Malt: What you need to know
Founded by Vincent Huguet, Hugo Lassiège and Alexandre Fretti in 2013, Malt is an European online marketplace serving more than 320,000 freelance consultants.
It has more than 30,000 customers, including 36 CAC 40-businesses. With 300 employees (50 per cent women and men), Malt is present in France, Spain, Belgium, Netherlands, and Germany.
Malt has been backed by prominent investors since its inception, including Eurazeo, Goldman Sachs, Kerala, Serena, and Isai.
Vincent Huguet, CEO of Malt, says, “Comatch is a champion in the field of business consulting marketplaces. As a fellow company that shares Malt’s ‘community first’ approach, placing our talent at the core of the product and business to our vision for the future of work, we are eager and excited to bring our two worlds of high-skilled freelancers together.”
How partnering up with Salesforce helped him succeed!
