Jump raises $12M to help freelancers get benefits on par with employees

French startup Jumpa contemporary take on the umbrella company concept in France, raised €11 million (about $12 million at current exchange rates) in a Series A funding round.

Jump offers full-time contracts to freelancers in search of the soundness and benefits of full-time work. It acts as an administrative companion only, and employees remain independent—they’ll work with multiple clients and negotiate their contracts directly.

Breega is leading today’s funding round, with Index Ventures and Raise Ventures also participating. The startup previously raised €4 million (around $4.5 million) in 2021.

Once signed up, freelancers can invoice their clients through Jump’s platform, and at the tip of the month, they’ll create pay slips and get paid. This feature alone implies that freelancers can set a pay schedule for themselves that may work all yr long—even during those slow summer months.

And with a everlasting contract, employees are registered with the national health system and may contribute to the national pension scheme. Jump also offers medical insurance contracts through Alana, food vouchers through Swile, access to worker savings schemes and more. In France, a everlasting contract can be particularly helpful when you are attempting to buy a house and are negotiating a mortgage with a bank.

There are some trade-offs, though. Corporate dues are deducted out of your salary, and Jump itself costs €99 per thirty days. But whenever you’re a freelancer, money is simply a part of the equation. I see numerous freelancers who want the very best of each freelancing and full-time work. So far, the startup has managed to persuade 2,000 freelancers to jump.

The startup also recently launched a free offer for freelancers just starting out. It features a free, skilled checking account with a virtual debit card that works with Apple Pay or Google Pay. There are also a couple of software features that may help you invoice your first clients, akin to a built-in invoicing tool and a dashboard for tracking financial performance.

“This more or less corresponds to the way freelancers work: they often start with the basic French freelance status, and then move to another status when they start to feel the limitations of their status and have enough income,” said Nicolas Fayon, co-founder and CEO of Jump (pictured above).

Jump wants to support more independent employees in the long run, so it currently offers services to software developers, data engineers, project managers, creative consultants, and sports coaches.

For example, it wants to support B2C merchants, akin to “businesses that bill customers through Stripe, using online payments or physical payment terminals,” Fayon said. Jump also plans to expand to other countries, starting with a U.K. umbrella company for freelancers working within the U.K.