Malt

Malt (previously known as Hopwork) is a French startup platform connecting businesses of all sizes to freelancers specializing in areas such as tech, design, marketing, communications, and business consulting. The company currently has offices in France (Paris, Lyon), Germany (Munich- launched in September 2019), and Spain (Madrid- launched in September 2017). 

As of March 2022, the platform has more than 340,000 freelancers, and the company reports a client base of over 40,000. The platform takes a 5%-7% cut of the service value from clients, compared to peers Upwork and Fiverr, who charge 3%-5%. Some of its clients include Unilever, Lufthansa, Bosch, BlaBlaCar, L’Oreal, and Allianz. The company also partners with consulting firms such as McKinsey to help its clients source freelancers. Since its inception, the company has processed EUR 300 million (approximately USD 367 million).

The company acquired Comatch ( March 2022 ), a German freelancer marketplace offering management consultancy and industry-specific expertise, with ~15,000 freelancers across 9 markets. The acquisition aimed to expand Malt’s presence in Germany and expand its scope to serve the business consultancy vertical. Following the acquisition, Malt expects to hire 150 new employees by the end of 2022 and reach EUR 1 billion (approx. USD 1.1 billion) in revenue by 2024.

Key customers and partnerships

In August 2023, Malt partnered with Dynamic Freelancer to enhance the freelance talent acquisition landscape by simplifying the process of connecting freelancers with businesses.

Funding and financials

In June 2021, the company announced that it raised EUR 80 million (approximately USD 97 million) in a funding round led by Goldman Sachs Growth Equity and Eurazeo. The round values the company at EUR 400 million (approximately USD 489 million), with the fresh financing being funneled toward expanding its operations across Europe, including Benelux, the UK,  Italy, and the US.