Malt is a leading B2B marketplace specialized in connecting companies with skilled freelancers. Learn how the platform's partnership with Mangopay has enabled it to deliver a unique and powerful user experience and double its transaction volume year on year.
Malt is the largest freelance community in Europe, with more than 370, 000 independent freelancers, and more than 40,000 client companies, including 85% of the largest corporations listed on the CAC40, DAX and IBEX 35. Every month, over 10,000 projects are submitted on the marketplace.
Specialized in connecting companies with talent, Malt allows freelancers to find new projects and manages the administrative follow-up, including payments.
Founded in France in 2013, Malt (formerly Hopwork) arose from two realizations:
The difficulty for freelancers to:
The difficulty for companies to:
Malt's answer is clear: provide a marketplace where qualified freelance consultants can offer their skills and expertise to companies looking for external talent to accelerate their projects. Malt operates a service marketplace in a B2B environment. The platform charges companies a fee for their services and takes a commission on the freelance side.
Since 2013, Mangopay has been working with Malt's teams to build and optimize payment flows within the marketplace. Mangopay's API is flexible and can be adapted to the changing needs of the platform and the new features that Malt wants to offer its users.
Mangopay created a custom workflow for Malt, providing an optimal experience for freelancers and businesses.
Mangopay manages all of Malt's payment flows in compliance with marketplace regulations, including PSD2, GDPR and PCI-DSS directives and standards.
Creating fast and smooth payment flows has enabled Malt to deliver a unique and powerful user experience and double its transaction volume year on year.
2021 was a record year for the company. Mangopay processed 244 million euros in pay-in on behalf of the platform. The most popular payment methods were SEPA bank transfers, credit cards (Carte Bleue/Visa/Mastercard), followed by Ibanization.
The automation of KYC checks has enabled Malt to onboard freelancers four times faster than in 2013: in 2021, 87,916 documents were processed via the API.
With the implementation of efficient fund reconciliation, automated invoicing and automatic IBAN generation, Malt's operational finance teams have been able to save one workday per week.
In 2021, Malt and Mangopay built an Instant Payout workflow that enables the platform to deliver on its commitment to freelancers - and even exceed it - by paying them within seconds of a project's completion. Since January 1, 2022, 59.3 million euros have been processed through Instant Payout.
Finally, the availability of numerous payment methods, local IBANs and Mangopay's assistance in identifying financing partners is helping Malt accelerate its international development.
Malt’s future is on the international stage. The marketplace intends to reach one billion euros in volume of transactions by 2024. With the ambition of generating 40% of its business outside of France, focusing on Western Europe. Until then, the company plans on relying on Mangopay for regulatory and technical answers to multi-currency payment challenges.
Malt counts on Mangopay’s compliance, finance, fraud, and technology experts to advise its teams on the integration of new functionalities or on expanding into new countries based on its objectives and local specificities.
We're proud to be part of success stories like this one and are committed to anticipating and meeting the needs of marketplaces of all sizes and types.
If, like Malt, Vinted, Chrono24, Leboncoin, Rakuten, Carrefour and more than 2,500 other platforms, you want to use our API, our marketplace payment experts are here to help.
This study was first published in August 2022.
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