Malt, a Paris-based jobs platform for fixed-term contract freelancers, has raised €80 million in growth capital to expand its services to the UK, US, Benelux, and Italy.
Malt estimates that the annual freelance consulting market in Europe is worth close to €350 billion.
The jobs platform already has operations in France (Paris, Lyon), Germany (Munich), and Spain (Madrid), but according to CEO Vincent Huguet, who co-founded the company with Hugo Lassiège and Jean-Baptiste Lemée, there is still growing demand for freelancers in the corporate market.
To put things into perspective, Malt’s latest investment round was led by Goldman Sachs Growth Equity and Eurazeo — valuing Malt at €400 million ($489 million), according to a Tech Crunch report. Surely, that is a positive sign that freelance work is on a growth trajectory for Malt’s 250,000 freelance developers, data scientists, designers, project managers and others working in related fields.
Malt has an impressive 30,000-strong client base, which includes Unilever, Lufthansa, Bosch, BlaBla Car, L’Oreal and Allianz, to name a few. Malt also partners with companies, such as McKinsey to help source projects for its freelancers.