Jump secures $12M to provide freelancers with employee-like benefits

French startup Jump, which offers a modern twist on the umbrella company model in France, has raised €11 million (approximately $12 million) in a Series A funding round. Jump provides full-time contracts to freelancers seeking stability while retaining the flexibility of freelance work. The company acts solely as an administrative partner, allowing freelancers to maintain independence, work with multiple clients, and negotiate their own contracts.

Leading this funding round is Breega, with participation from Index Ventures and Raise Ventures. Previously, Jump secured €4 million (around $4.5 million) in 2021.

Freelancers who sign up with Jump can use its platform to invoice clients and generate payslips, receiving a monthly salary. This allows them to set a consistent income year-round, even during slower periods. Additionally, a full-time contract provides access to national healthcare, pension contributions, and other benefits such as health insurance through Alan, meal vouchers via Swile, and employee savings plans. In France, having a permanent contract also improves chances of securing a mortgage when purchasing a home.

However, there are some downsides. Corporate contributions are deducted from earnings, and Jump charges €99 per month. Still, many freelancers might find the combination of freelance freedom and full-time benefits appealing. So far, 2,000 freelancers have joined Jump.

Recently, Jump introduced a free offering for those just starting out as freelancers. This includes a professional bank account with a virtual debit card compatible with Apple Pay and Google Pay, as well as invoicing tools and a financial tracking dashboard to help freelancers manage their first clients.

Nicolas Fayon, Jump’s co-founder and CEO, noted that this approach aligns with typical freelancer journeys in France. Freelancers often begin with the country’s basic status and transition to a more advanced model as their business grows.

Looking ahead, Jump aims to support more types of independent workers, including software developers, data engineers, project managers, creative consultants, and sports coaches. The company also plans to extend its services to B2C sellers, such as those using Stripe for online or in-person payments. Additionally, Jump is preparing to expand internationally, starting with a British umbrella company to assist freelancers in the U.K.