A new wave of innovation is transforming the freelance landscape in France, and at the forefront of this shift is Jump, a startup that reimagines the traditional concept of umbrella companies. Recently, Jump secured an impressive €11 million (approximately $12 million) in a Series A funding round, led by Breega, with participation from Index Ventures and Raise Ventures. This funding comes on the heels of a successful €4 million raise in 2021, underscoring the growing interest in models that blend the flexibility of freelancing with the stability typically associated with full-time employment.
Jump’s core mission is to offer freelancers the security of full-time contracts while allowing them to maintain their independence. Unlike traditional employment structures, Jump acts as an administrative partner, empowering freelancers to negotiate contracts directly with clients and work with multiple organizations simultaneously. This innovative approach resonates deeply within a workforce increasingly characterized by gig and freelance roles.
A standout feature of Jump’s platform is its monthly billing system that allows freelancers to manage their income effectively, even during leaner months. By providing the tools to create payslips and receive salaries on a set schedule, Jump enables users to stabilize their financial situations throughout the year. This is particularly beneficial for freelancers who often face fluctuating incomes, making it easier for them to plan for expenses and savings.
Moreover, Jump’s model integrates essential benefits typically reserved for full-time employees. Freelancers are registered with the national healthcare system and can contribute to the national pension scheme. This is a significant advantage in a country where stable employment is often linked to accessing critical services. Jump also partners with health insurance startup Alan and employee benefits platform Swile to offer health insurance and meal vouchers, respectively. Such benefits not only enhance the freelancer’s quality of life but can also simplify processes such as applying for a mortgage, which often favors those with permanent contracts.
Of course, there are trade-offs to consider. Jump charges a monthly fee of €99, which includes corporate contributions deducted from pay. Despite this cost, many freelancers may find the trade-off worthwhile, as they seek a balance between the freedom of freelancing and the stability of traditional employment. As of now, Jump has attracted about 2,000 freelancers who have opted for this hybrid model, illustrating a clear demand for innovative solutions in the gig economy.
In an effort to widen its reach, Jump has recently launched a free offering tailored for freelancers just starting their journeys. This package includes a professional bank account with a virtual debit card compatible with digital payment platforms like Apple Pay and Google Pay. Additionally, it features tools for invoicing and financial tracking, enabling new freelancers to hit the ground running without incurring upfront costs.
Nicolas Fayon, Jump’s co-founder and CEO, notes the importance of aligning the platform with the realities of freelance work. “Freelancers often begin with basic status and transition to more comprehensive solutions as their revenues grow,” he explains. This adaptability is crucial, as it reflects an understanding of the evolving nature of freelance careers.
Looking ahead, Jump plans to broaden its scope to include a wider array of independent workers. Currently catering to software developers, data engineers, project managers, and creative consultants, there are aspirations to support B2C sellers as well. Additionally, the startup has ambitions to expand into international markets, with plans to launch a British umbrella company for freelancers operating in the U.K.
The rise of platforms like Jump highlights a significant shift in the workforce. As more individuals seek flexible working arrangements, the demand for solutions that provide both independence and security will likely continue to grow. In a world where traditional employment is no longer the only pathway to success, Jump exemplifies how startups can bridge the gap between the gig economy and the benefits of full-time work, paving the way for a new generation of freelancers who can thrive in an ever-changing landscape.
