Jump steps up mission to redefine the world of work and empower a new generation of freelancers
Quick Take
- Freelancing is rapidly becoming the leading aspiration for workers across the globe, with up to 40% of the global workforce set to be independent by 2025. Jump is at the forefront of this transformation, empowering anyone to be their own boss.
- With Jump, freelancers no longer need to choose between security and flexibility, allowing a new generation of workers to follow their passion, without sacrificing access to essential benefits and mortgages.
- Jump is the largest umbrella company in France, with thousands managing all their professional activity and admin through the platform. Building on this momentum, the company is set to expand internationally, starting with the UK.
- At Index, we’ve backed Jump’s mission since leading its seed investment in 2021. Now, we’re joining a new €11m Series A round to help the company transform the working lives of even more freelancers.
Driven by a desire to work for themselves and on their own terms, more people than ever are going freelance or have a desire to do so. From graphic designers to career coaches, fitness instructors to software engineers, millions of people are striking out on their own and seizing the opportunities and freedom that this provides.
Freelancing is transforming how we live and work, but it does create significant challenges for workers. While anyone venturing into self-employment is taking a risk, for freelancers, this can be even more acute. It means losing the prospect of sick pay, holiday pay and unemployment protections. Getting a mortgage becomes far more difficult. Time and money are lost chasing invoices and managing accounts.
Jump provides the solution to all of this and more with a platform that, in minutes, provides freelancers with permanent contracts, regular payslips and access to essential benefits – all without any administrative hassle.
Across France, graphic designers have been able to get their own mortgages. Financial advisors have unlocked health insurance and social security. Yoga teachers have determined that striking out on their own is a sound financial decision. Software engineers have accessed paid parental leave.
Nicolas, Max and Thibault’s mission to provide this growing cohort of freelancers with the security and freedom to work for themselves led us to lead Jump’s €4m seed round in 2021. Less than three years later, thousands of freelancers are using the platform to work flexibly, without sacrificing the essential benefits full-time employment provides.
Across all kinds of industries and professions, more people than ever are choosing to build something for themselves. Motivated by factors like the desire to work remotely, a focus on work-life balance and AI making it easier than ever to work efficiently, as many as 70% of Gen Z across France, the UK, Germany and the US are already freelancing or considering it.
Jump is already the biggest ‘umbrella company’ in France, but it provides freelancers with much more than a paycheck: it enables them to manage every aspect of their working lives. A complete operating system for freelancers, Jump handles accounting, expenses, sick leave, liability insurance and savings plans, removing the need to pay for any other admin platform, or an accountant. Increasingly, it is using AI to make its own team more productive, leveraging the technology to manage thousands of expense reports each month. Plus with a free and affordable tier, Jump provides access to services for every self-employed person, regardless of their income.
With the shift toward self-employment gaining momentum, the need for comprehensive support will only increase as many realise they could fall through the gaps when it comes to accessing things like mortgages, worker benefits and accountancy services. With its product-market fit firmly established, Jump is ready to accelerate its growth and launch in new international markets, starting with the UK next year.
As a result, we’re doubling down on Jump, participating in a new €11 million Series A round. In France, Jump is actively defining this space – there simply wasn’t anything like it available before. In the UK, 4.5m are self-employed, with 800,000 using some form of umbrella company, and while the market is more mature, we believe Jump’s all-in-one offering is better than anything else currently available – and I’m excited to support Jump in bringing the French freelancer revolution to the UK and beyond.
Published — Sept. 23, 2024