A French startup called Jump has received €11 million (about $12 million at current exchange rates) in a Series A funding round. Jump is a new take on the idea of umbrella companies in France.
Freelancers who want some stability and the perks of a full-time job can sign full-time contracts with Jump. As long as workers stay independent—they can work for more than one client and arrange their own contracts—it’s just an administrative companion.
Index Ventures and Raise Ventures are also taking part in today’s funding round, which is led by Breega. The company had raised €4 million, which is about $4.5 million, in 2021.
Freelancers can use Jump’s website to bill their clients after signing up. At the end of the month, they can make payslips and get paid. Freelancers can set their own pay rates, which works all year, even during the slow summer months, thanks to this feature alone.
When workers have a fixed contract, they are enrolled in the national health care system and can make contributions to the national pension system. Jump also gives its employees access to savings plans, health insurance plans through Alan, meal coupons through Swile, and more. In France, a fixed contract is also very helpful when you want to buy a house and are talking to a bank about getting a mortgage.
There are some costs, though. Your company will take money out of your pay to pay for Jump, which costs €99 per month. There is more to life than money when you’re a worker, though. As a worker, I can see a lot of people who would like the best of both the freelance and full-time job worlds. Up to now, the company has been able to get 2,000 freelancers to join.
The new company just recently added a free service for freelancers who are just starting out. A free business bank account with a virtual debit card that works with Apple Pay or Google Pay is part of it. Also, the software comes with a built-in invoicing tool and a screen to keep an eye on your finances, which can help you bill your first clients.
Nicolas Fayon, co-founder and CEO of Jump (pictured above), said, “It’s pretty much how freelancers work. They often start out with the basic French freelancer status and then switch to another status when they start to feel the limits of their freelancing status and they have enough revenue.”
Jump wants to be able to help more freelancers in the future. Right now, it works with software developers, data engineers, project managers, creative experts, and sports coaches.
Also Read: Customers of the Indian Cryptocurrency Company Wazirx Probably Won’t Get Their Full Money Back
Fayon said that one type of B2C seller that the company wants to help are “businesses that bill customers via Stripe using online payments or physical payment terminals.” Jump also wants to grow into other countries. To begin, they will open a British umbrella company for workers who work in the UK.
What do you say about this story? Visit Parhlo World For more.
