Redefining the concept of umbrella companies in France, the innovative startup Jump has successfully secured €11 million (approximately $12 million) in a Series A funding round.
Jump provides freelancers with the stability of full-time contracts while allowing them to maintain their independence by working with multiple clients and negotiating contracts directly. Acting as an administrative support system, Jump empowers freelancers to enjoy the benefits of a full-time job without sacrificing their autonomy.
Leading the funding round are Breega, with participation from Index Ventures and Raise Ventures. The startup had previously raised €4 million (around $4.5 million) in 2021.
Through Jump’s platform, freelancers can seamlessly bill their clients and receive a regular salary, enabling them to set a consistent income throughout the year. Additionally, freelancers registered with Jump benefit from national healthcare coverage, contributions to the national pension system, employee savings schemes, and access to health insurance contracts, meal vouchers, and more.
While there are associated costs with Jump, such as corporate contributions deducted from freelancers’ pay and a monthly fee of €99, the advantages of having a permanent contract can significantly outweigh the expenses.
Jump’s recent launch of a free offering for new freelancers includes a professional bank account with a virtual debit card, invoicing tools, and financial performance tracking features. This initiative aims to support freelancers in their initial stages of freelancing and facilitate a smooth transition as their business grows.
Looking ahead, Jump plans to expand its support to a wider range of independent workers such as software developers, project managers, creative consultants, and sports coaches. The startup also aims to extend its services to B2C sellers and explore opportunities in other countries, starting with establishing a British umbrella company for freelancers in the U.K.
Nicolas Fayon, Jump’s co-founder and CEO, envisions a future where Jump plays a pivotal role in empowering independent workers across various industries and geographies.
