The French startup Jump wants to shake up the carrier company industry. These companies offer an alternative to traditional freelance jobs. They can hire workers on permanent contracts so that they get the stability and benefits that come with a full-time contract. But workers remain independent – they can work with multiple clients and they negotiate their contracts directly.
What differentiates Jump from older companies operating in the space is that it is much cheaper and much more automated than what is already available. Jump lets you create an account and send your first invoice automatically – you don’t need to talk to anyone at Jump to get started.
Once you’ve signed up, you can start asking your customers to pay Jump instead of paying you directly. At any time, you can see your unpaid bills and how much money you have in your Jump account.
Jump clients can then create payslips and receive a salary. And because it is a regular French CDI, you are affiliated to the national health system and you start saving for your retirement. If things are not going well with your client, you can request a conventional rupture and become eligible for unemployment benefits.
The company raised a $ 4.5 million (€ 4 million) funding round led by Index Ventures. Kima Ventures and 16 angel investors also participated in the round, such as Nicolas Brusson, Hanno Renner, Laurent Ritter and Thibaud Elziere.
Traditional umbrella companies take a share of your annual turnover. The price varies but it can be 5%, 7% or even sometimes 10%. For example, Jump co-founder and CEO Nicolas Fayon worked for ITG, which charges 6-8% of your income. You can also pay ITG an additional 2% to manage expenses and thus optimize your remuneration.
Jump currently charges a flat fee of $ 79 per month (or $ 89). Customers can then access third-party services, such as professional and personal life insurance with Axa, health insurance with Alan, several independent marketplaces (Malt, Talent.io and LeGratin) and other various services (Simbel, Secret or HelloPrêt).
So far, Jump has worked with hundreds of freelancers. They have invoiced 3 million euros to date. Many freelancers could benefit from such a product, such as developers, real estate agents or drivers. And I think there is a big market opportunity for umbrella companies because they could be particularly useful for people working remotely for foreign companies who do not want to open a subsidiary in France.