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French startup Jump has secured €11 million (approximately $12 million) in a Series A funding round, led by Breega with participation from Index Ventures and Raise Ventures. This innovative company is revolutionizing the concept of umbrella companies in France by offering full-time contracts to freelancers, providing them with the stability and benefits typically associated with traditional employment.

Bridging the Gap Between Freelancing and Full-Time Employment

Jump’s platform allows freelancers to maintain their independence while enjoying the perks of a permanent contract. Here’s how it works:

1. Freelancers can bill clients through Jump’s platform
2. At the end of the month, they create payslips and receive a salary
3. Workers are registered with the national healthcare system and can contribute to the pension system
4. Additional benefits include health insurance via Alan, meal vouchers via Swile, and access to employee savings schemes

This innovative approach helps freelancers define a consistent pay structure throughout the year, even during slower periods. It also provides significant advantages when applying for mortgages or other financial services that typically favor those with permanent contracts.

Expanding Services and Future Plans

Jump has already attracted 2,000 freelancers to its platform and recently launched a free offering for newcomers to the freelancing world. This includes:

• A free, professional bank account with a virtual debit card
• Built-in invoicing tools
• A dashboard for tracking financial performance

Looking ahead, Jump aims to support a broader range of independent workers, including B2C sellers. The company also has plans to expand internationally, starting with a British umbrella company for freelancers in the UK.

The Bigger Picture

As the gig economy continues to grow, solutions like Jump are becoming increasingly important. By providing a bridge between the flexibility of freelancing and the security of traditional employment, Jump is addressing a crucial need in the modern workforce.

With this new funding, Jump is well-positioned to further develop its platform and expand its reach, potentially reshaping the future of work for independent professionals across Europe and beyond.