Jump raises $12M to help freelancers get benefits like workers

French startup Jump, a modern umbrella company concept in France, has raised 11 million euros (about $12 million at current exchange rates) in a Series A funding round.

Jump offers full-time contracts to freelancers who want the stability and benefits associated with a full-time job. It acts only as a management partner and employees remain independent – they can 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 had raised 4 million euros (about $4.5 million) back in 2021.

After registration, freelancers can bill their clients through the Jump platform, and at the end of the month, they can generate payslips and receive income. This feature alone means that freelancers can define themselves a salary that works all year round – even during those slow summer months.

And with a permanent contract, employees are registered in the national health system and can contribute to the national pension system. Jump also offers health insurance contracts through Alan, meal vouchers through Swile, access to employee savings plans and more. In France, the permanent contract is also useful especially when trying to buy a home and negotiating with the bank for a mortgae.

There is a trade-off, though. Corporate donations are deducted from your payment, and Jump itself costs €99 per month. But when you’re a freelancer, money is only one part of the equation. I can see many freelancers who would like the best of both worlds of freelancing and full-time employment. So far, the startup has managed to convince 2,000 freelancers to make the jump.

The startup recently launched a free offering for startup freelancers. It includes a free, professional bank account with a virtual debit card that works with Apple Pay or Google Pay. There are also several software features that can help you bill your first customers, such as a built-in invoicing tool and a dashboard to track your financial performance.

“It is very relevant to the way freelancers work: They usually start with the basic situation of a French freelancer, and then switch to another situation when they start to feel the limits of their freelance situation and have enough money,” says Nicolas Fayon, Founder and CEO of Jump (pictured above). .

In the future, Jump wants to be able to support more freelancers, as it currently caters to software developers, data engineers, project managers, creative consultants and sports coaches.

For example, it wants to support B2C merchants, “such as businesses that bill consumers through Stripe using online payments or physical payment terminals,” Fayon said. Jump also plans to expand internationally, starting with a British umbrella company for freelancers working in the UK