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Thursday, May 19, 2022

Compart exit: Berlin consulting startup sold to France

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Remaining CEOs of their company: Co-match founders Christoph Hardt and Jan Schächtele (from left)

The largest European platform for freelancing, Malt, takes over the Berlin startup Comatch. This offers a curated market for independent management consultants. When asked about the scene of the start-up, the French company did not want to provide information on the sum of the acquisition. All employees of Compart must be hired as part of the transaction. According to the company, 300 employees currently work for Malt and 130 for Comort.

The founding team of the acquired startup will remain in their previous positions. Comatch was founded in 2014 by former McKinsey consultants Christoph Hardt and Jan Schächtele. Since then, around 15 million euros have entered the company. Venture capitalists such as Acton Capital Partners, Christophe Maire through his investment company Atlantic Labs, and VC btov participated.

The idea behind Comatch: independent consultants are connected with companies on an online platform. Comatch works on an algorithm: only technically fit consultants can view a free project online; the Algorithm and team then filter out those who are interested. Depending on the startup, about two or three custom-made apps would eventually kill the customer. His promise: a project should have a suitable consultant in just 48 hours.

Both brands will initially remain independent.

After the acquisition, both networks will remain independent in the current year 2022. In the next period, “the focus will be on market-related synergies that expand the range of services for new and existing clients, as well as independent talent.” , and to preserve the character of the respective markets,” von Malt told Gründerszene. According to the company, the Comatch network comprises more than 15,000 consultants from more than 120 countries. Under the new owner, the largest European client network will be built with more than 1,000 corporations, including 80 percent of the companies of the most important stock indices of both countries, the DAX 40 and the CAC 40.

Both platforms had recently benefited from the boom in freelancers. According to Malt, it achieved 60 per cent sales growth in 2021, while Comatch achieved 50 per cent. On this basis, the platforms will be further expanded and 150 new employees will be hired by the end of the current year. This would increase the number of employees to 600.

As a result of the acquisition, Malt and Comort have combined teams in 11 regions, including Belgium, Germany, France, the Middle East, the Netherlands, North Africa, the Nordics, Austria, Switzerland, Spain and the United Kingdom. Malt marked a milestone after the acquisition: the volume of the project will increase by 100 percent per year and will reach one billion euros by 2024, according to a request from the start-up scene. However, the company does not mention sales targets for the two platforms.

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