As the independent workforce grows, French startup Jump wants to give its 30,000-strong community, one of the very things that have long defined an employee: a full-time contract. A modern umbrella company, Jump says it gives employers flexible employment contracts tailored to the needs of freelancers but, at the same time, helps the latter by giving them stability and usual benefits that such an employment might bring.
Freelancers will maintain the freedom to choose their clients and sign contracts directly but will no longer have to bother about paying taxes, social insurance contributions, or other administrative details. That’s what Jump will cover for them.
Breega has raised a round of funding with Index Ventures and Raise Ventures participating. This is the second round of funding for this startup, having earlier collected some €4 million, about $4.5 million in 2021.
Jump would be able to invoice the clients on the platform and obtain monthly pay slips so that the revenue is stable throughout the year, even in slower months. Under a permanent contract, freelancers are enrolled in the national healthcare system, and they are able to contribute to the pension scheme at the national level. Health insurance is also provided by Alan, meal vouchers by Swile, along with employee savings plans which could come in very useful should one need to take out a mortgage.
On the other hand, there are trade-offs: corporate contributions are deducted from earnings, and Jump charges a monthly fee of €99. However, many freelancers eagerly seek a balance between freelancing flexibility and employee benefits. Thus far, Jump has attracted about 2,000 freelancers.
What’s more, Jump has offered a free version that is offered to those freelancers starting out at the beginning of their careers. The free version offers a professional bank account and a virtual debit card, which are accepted by Apple Pay and Google Pay. The platform also comes with invoice and financial tracking tools
The co-founder and Chief Executive of Jump, Nicolas Fayon, said, “Freelancers normally start out in basic status and go on to a more supportive structure as their revenue grows.”
Looking ahead, Jump will offer its service to even more independent workers than it is already providing for-to-date: software developers, data engineers, project managers, creative consultants, and sports coaches. Plans are already laid out for B2C sellers, and further plans for international expansion are in place: the British umbrella company for freelancers within the UK.
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