Jump Raises Millions in Funding to Support Freelance Contractors
French startup Jump has raised $12 million in Series A Funding. TechCrunch reported that the funding round was led by Brrega. Raise Ventures and Index Ventures. In 2021, Jump raised $4.5 million.
Freelancer Stability
Jump gives full-time contracts to freelancers who want stability and desire to reap the benefits that full-time jobs offer. Once they sign up with Jump, freelancers can bill clients through the platform at the end of every month.
The company functions as an administrative platform while maintaining the independence of contracts. It allows users to generate payslips and receive a salary. This feature empowers freelancers to define the pay that works for them throughout the year, even during slow months.
Contractors who use the platform are free to work for multiple customers and negotiate contracts directly.
Healthcare and Pension
Jump freelancer benefits include registration of freelancers with the national healthcare system. The permanent contract that contractors receive enables them to contribute to the national pension scheme. The platform also offers users health insurance contractors, meal vouchers, and employee savings schemes.
Another important Jump employee benefit that freelancers get is a mortgage. Permanent contracts are particularly useful when buying a home and negotiating mortgages with banks in France. To use Jump, freelancers have to pay €99 each month. Corporate contributions are deducted directly from the user’s earnings. To date, 2,000 freelancers use the French startup Jump.
Newbie Offer
Jump recently announced a free offer for contractors who are starting their freelancing career. The newbie offer includes a free bank account with a virtual debit card that’s linked to Google Pay or Apple Pay.
The offer also comes with several software features that enable freelancers to bill their first clients. These features include a dashboard for tracking financial performance and an in-built invoice generator.
“It’s pretty much in line with how freelancers work. They often get started with the basic French freelancer status, and then switch to another status when they begin to feel the limits of their freelancing status and they have enough revenue,” Jump’s Co-founder and CEO, Nicolas Fayon said.
Future Outlook
Moving forward, Jump is looking to support a wide range of independent contractors. Currently, the platform serves data engineers, software developers, sports coaches, project managers, and creative consultants. The French startup also plans to expand to other countries in the future, including the UK.
Like Workday and TalentQuest that leverage technology to streamline human resource functions for businesses, Jump makes it easier for freelancers to manage clients. Last month, Salesforce and Workday announced plans to launch an AI-powered service agent to automate routine tasks, offer data-driven insights, and provide personalized support to users. TalentQuest on the other hand developed an Analytic Solution that helps businesses revolutionize the way they use data to attract and retain employees.
