French startup Jump, which modernizes the traditional umbrella company model, has successfully raised €11 million (approximately $12 million) in a Series A funding round. The company provides freelancers with full-time contracts, offering stability and benefits typically associated with permanent employment while allowing them to maintain their independence.
Funding Details
The funding round is led by Breega, with participation from Index Ventures and Raise Ventures. This new investment follows Jump’s earlier funding of €4 million (around $4.5 million) in 2021, reflecting growing confidence in its innovative approach to freelancer management.
Flexible Employment with Benefits
Jump acts as an administrative partner, enabling freelancers to work with multiple clients and negotiate their contracts directly. By signing up, freelancers can invoice their clients through Jump’s platform and receive monthly pay slips, providing a consistent salary throughout the year—even during slower periods. This flexibility allows freelancers to better manage their finances and plan for seasonal fluctuations in work.
Freelancers who join Jump benefit from being registered with France’s national healthcare and pension systems. The startup also offers health insurance through Alan, meal vouchers via Swile, and access to employee savings schemes, making it an attractive option for those seeking the best of both freelancing and traditional employment.
Cost Considerations and Tradeoffs
While Jump provides valuable benefits, there are tradeoffs. Corporate contributions are deducted from freelancers’ pay, and the service costs €99 per month. Nevertheless, many freelancers appreciate the added security and support Jump offers, particularly when seeking to secure a mortgage or purchase a home.
Expanding Offerings for New Freelancers
In addition to its core services, Jump has recently launched a free offering for new freelancers. So far, Jump has successfully attracted around 2,000 freelancers to its platform, signaling a strong demand for this hybrid employment model.
Conclusion
Jump’s innovative approach to supporting freelancers combines the flexibility of independent work with the security of full-time employment benefits. With its recent funding, the startup is well-positioned to expand its services and continue to attract freelancers looking for stability in an evolving gig economy.
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