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.

The post Jump Raises Millions in Funding to Support Freelance Contractors appeared first on Tech Research Online.

NFX led the latest Enso seed funding round. Leading angel investors and operators from big companies like OpenAI, Twitter, and Slack participated in the round.

“We are thrilled to support Enso as it transforms the business landscape and empowers traditional businesses to thrive,” NFX Ventures Partner, Gigi Levy-Weiss said.

Bridging the Gap

In the US, small businesses employ close to 50% of the working population and contribute 43.5% of the country’s GDP. However, businesses in this category struggle to grow. Routine tasks keep most small business owners from achieving the growth they desire.

“Running a small business means constantly being in survival mode, and lacking the resources and expertise that larger businesses have. AI has become readily available to these larger companies, but not to small businesses. We created Enso to make AI accessible to companies that serve traditional industries, so they can compete on an equal footing with larger corporations—instead of spending money on bank-breaking agency services,” Enso CEO, Mickey Haslavsky said.

With Enso’s enterprise-grade AI, SMBs can automate critical tasks such as customer communication, data entry, scheduling, and accounting.

“Small businesses are the backbone of our economy, yet they have been passed by the AI revolution. While larger businesses speed by leveraging AI to maximize productivity gains, small businesses struggle to perform the most basic of administrative tasks. Enso is one of the first companies recognizing this need and putting enterprise-grade AI in the hands of emerging companies,” Levy-Weiss added.

Numerous Agents

The Enso platform comes with over 1,000 AI agents for SMBs. The agents have been trained on domain-specific practices across 70 industries. This allows customers to manage different marketing processes with ease. These processes include search engine optimization, social media engagements, competition tracking, optimizing Amazon stores, and writing newsletters. According to Haslavsky, Enso AI agents are centered around integration.

“When I started getting into this AI agent space, I realized that, if that works, it can bridge the gap between small and large businesses because it’s serviceable. It can give services to smaller businesses on top of other software, and that’s where the integrations come in. Second, I realized it doesn’t work. Because if you try AI agents today, they’re pretty broken. Three, I realized that, from a business perspective this is just huge, because most of the services that can now be automated cost — as an alternative, if you’re going to an agency — $1,000 a month,” he said.

Future Plans

Enso SMBs AI agents combine the predictability of conventional workflow services with the creativity of large language models. Although automated workflows are reliable, they still need scripting to maximize their potential.

Enso’s platform is built on the guided AI agents concept. It can overcome the unreliability and unpredictability of conventional AI agents that lead to negative outcomes. Enso plans to unveil an AI agent builder to help developers create and market their services to SMBs through the guided AI agents platform

The post New Funding Boosts Enso’s Efforts to Bring AI Agents to SMBs appeared first on Tech Research Online.

A press release published on BusinessWire shows that Freeflow Ventures raised $35 million through Fund Two, $25 million through Fund One, and $15 million through Opportunity Fund. The firm raised $15 million through special-purpose ventures.

The venture capital firm invests Freeflow equity funding in science-driven innovations that address planetary and human challenges. 

Rich Background 

Freeflow was established in the Caltech area of Pasadena, California in 2020. Since then, the venture capital firm has invested in 30 companies. It was founded by leading global scientists including three Chemistry and Physiology Nobel Laureates. 

In recent years, the venture capital market has experienced challenges. But even in the face of the challenges, Freeflow has grown its fundraising twice, from Fund One to Fund Two.  

Additionally, the venture capital firm launched an investment into Catena Bio recently. This is the first  Freeflow deeptech investment that the company is making in startups within the Berkeley ecosystem. 

Catena Bio is pioneering the next-generation Antibody Drug Conjugate (ADC) technology. The technology comes with a novel conjugation that facilitates varying payload capabilities in cancer treatment. These capabilities can improve patient outcomes significantly.  Catena Bio’s co-founder and CEO, Marco Lobba previously worked on the technology that underlies the ADC approach. At the time, he was taking his PhD at the University of California, Berkeley. Catena Bio is a member of the Bakar BioEngenuity Hub at the University. 

DeepTech in Berkeley

Breakthrough science and deepTech innovation are prominent in Berkeley. The two share similarities across Pasadena. From its inception, Freeflow Ventures funding has laid a strong investment foundation in Caltech. Now, the venture capital firm is looking to bring its tested ecosystem-based operating model to Berkeley. For Freeflow, this move is set to attract deals from two globally recognized scientific communities. 

“This new funding enables us to expand our model to Berkeley, an important addition to our operating model because it shares so many similarities to Caltech and JPL where amazing founders working on large-scale solutions to important problems continue to create high-quality investment opportunities. These two communities align very well with our focused thesis on human and planetary health,” Freeflow Ventures Founder and Managing Partner,  David Fleck said.

The post Freeflow Ventures Funding Targets US-Based DeepTech Startups appeared first on Tech Research Online.

Extraordinary Investors

The C12 funding round was led by Varsity Capital, EIC Fund, and Verve Ventures. The new funding brings the total amount raised by C12 to about €30 million. The quantum computing startup raised €9 million in 2021.

Varsity Founding Partner, Didier Valet said, “We are proud to lead the new C12 round with a clear objective of building a large-scale, fault-tolerant quantum computer to strengthen France’s position as a leading force in the quantum space.”

C12 designs and produces quantum processors. The deeptech startup is focused on shaping the future of quantum computing in France and globally.

“I am very happy to have prestigious investors on board to speed up our development. I am proud that C12 can count on an extraordinary team. Our ambition is the same as day one- to become one of the quantum computing leaders of tomorrow,” C12’s CEO and Co-Founder, Pierre Desjardins said.

The company plans to use the processors to build large-scale quantum computers.

The Proqcima Program

C12 has been selected to take part in the Proqcima program. The program was launched by the French Ministry of the Armed Forces in March 2024. The purpose of the program is to design two prototypes of C12 universal quantum computers by 2032.

“Our goal is to demonstrate long-distance entanglement between 2 qubits. This entanglement is at the heart of the quantum leap that will one day allow us to compute in a few seconds, what today takes several years. This long-distance 2Q gate is therefore a major step forward in quantum technology,” C12 Co-Founder and CT, Matthieu Desjardins said.

Qubits are tiny particles in quantum processors that carry quantum information.

Proof of Concept

C12 has demonstrated that its single spin qubit architecture can reduce the noise that affects qubit quality. In 2023, the startup inaugurated its first quantum processor, Quantum Fab, in Paris. The startup has several production workshops. It also has a cleanroom for its semiconductor chips. The Quantum Fab pilot line will enable it to manufacture its initial quantum products.

360 Capital Partner, Nader Sabbaghian said, “Much like silicon laid the foundation for modern digital computing in the 1950s, we believe carbon holds the key to unleashing the extraordinary potential of quantum computing. We are immensely proud of C12’s pioneering achievements and are committed to supporting their efforts to turn quantum computing into a tangible reality.”

Stiff Competition

Many startups are building fully-fledged quantum computers in Europe. In France, C12 quantum computing is competing with Quandela, Pascal, and Alice & Bob. Its competitors have attracted better funding.

The companies use different qubits to differentiate themselves in the market. Pascal uses neutral atoms while Alice & Bob uses electrons. C12 uses spin qubits and Quandela uses photons.

Quantum computers are still in the infancy stage. Scientists expect them to unlock high computational power. They can solve complex problems that conventional computers can’t, which presents huge benefits for businesses.

The post New C12 Funding Pushes Quantum Computer Dream Closer appeared first on Tech Research Online.

Tough Fundraising Environment

Investment in the fintech environment has been reducing since 2022. Fintech companies struggle to meet their financing goals. Investors are shifting to emerging technologies like AI. But, the latest CleverCards funding round stood out in the market.

CleverCards CEO, Kealan Lennon said, “It’s a tough environment. In the current market logjam, it has been pretty impressive now to raise money because nobody’s raising capital.”

CleverCards’ latest funding round was led by employee benefits and voucher platform, Pluxee. The new investment brings the total funding raised by this fintech firm past 28 million Euros. Pluzee is listed on the Euronext stock exchange. Its total market valuation stands at 4 billion Euros.

Corporate Expense Problem

A 2016 survey showed that employees made various improper expense requests. These included dance classes, welder, day spa, and taxidermy services. These expenses are odd. But, they reflect the reality for most companies.
CleverCards’ digital solution solves this problem by linking to configurable fintech expense cards. This enables corporations to control how employees use corporate payment cards.

Speaking to CNBC, Lennon said, “Businesses want to make sure the right employee is the one that gets the card, and that it’s only used for certain purposes. It’s finance control. The idea of a configurable payments platform hadn’t been done before. And by doing it digitally, customers come along and say, ‘I want to be able to do this with the press of a button’.”

CleverCards lets companies configure prepaid cards for use by specific staff members. The technology also allows corporations to block transactions they consider inappropriate.

Growing Fast

About 10,000 businesses have signed up for CleverCards’ fintech expense cards. These include big shots like Accenture, eBay, Microsoft, PaffyPower, Apple, and Betfair. CleverCards also serves organizations in the public sector.

The startup worked with the UK government. They transferred welfare payments to smart meter users. The users use direct debit to pay bills. But, they rely on additional financial assistance due to increasing fuel prices.
CleverCards’ fintech solution was used to restrict smart card payments. People could only use expense cards to pay bills on certain utility websites. The fintech startup used AI to check the identities of recipients. This helped in preventing fraud.

CleverCards is slowly positioning itself in the fintech industry. It’s taking on fintech giants.

With the latest CleverCards funding, the fintech startup will expand its business. The company plans to explore new opportunities and scale its fintech products. Recently, CleverCards appointed five more non-executive directors. The new directors have vast experience in payments technology.

The post CleverCards’ Funding Round Succeeds in the Tough Fintech Environment appeared first on Tech Research Online.

Market Changes

Times have changed. Venture capital no longer flows to startups that pitch bold ideas but need more business basics and metrics.

In an interview with CNBC, OpenPayd CEO, Iana Dimitrova said, “Value is now ascribed to businesses that manage to prove there is a solid use case, solid business model.”

OpenPayd is an embedded finance startup. Embedded finance is when tech companies sell financial service software to other firms. This happens even when those firms don’t provide financial products.

“That is recognised by the market, because three, four years ago, that was not necessarily the case anymore, with crazy ideas of domination and hundreds of millions of dollars in VC funding,” she added.

Less Fintech Investment

Globally, funding for fintech startups has dropped significantly. 2021 recorded the highest financing at a peak of $238.9 billion. Valuations for fintech companies like Affirm, Revolut, Block, and Klarna hit multi-billion marks.

But this was short lived. Fintech valuation plunge on funding started in 2022. In this year, fintechs raised $164.1 billion. Fintech investment was reduced further in 2023 to a low of $113.7 billion.

Singaporean Fintech Nium announced a drop in its valuation. In a recent 50 million funding round, the company said its valuation had dropped to $1.4 billion.

Fintech companies are also contending with higher interest rates. This means that even the most viable startups find it hard to raise funds. And where funding is available, it’s offered at a higher price than before.

Shift to AI

Nium’s CEO, Prajit Nanu says investors’ attention has shifted attention from fintech to AI.

“Investors are now in the AI mindset. Like, whatever it costs. I want in on AI. They’re going to burn a lot of money,” he said.

According to Nanu, the current AI valuation craze is very similar to what fintech experienced in 2020 and 2021. He believes fintech market valuations have not hit rock bottom. Nium holds that consolidation will be critical for fintech firms. His firm is looking to acquire several startups.

“I believe that this is the lowest end of the fintech cycle. This is the right time to make it in fintech,” he added.

OpenPayd said its immediate plans don’t include fundraising from external investors. But, the company remains open to venture capital.

Positive Crypto Outlook

Even with the fintech valuations plunge, some investors and executives are hopeful about cryptos. James Black, a partner at a Venture Capital Firm, said that AI will change how people manage money.

But there’s no AI for moving money. This means it’s not changing the payment infrastructure. He says tokens and stablecoins that match real-world assets are changing things.

“We’ve seen the crypto wave, and I do think that stablecoins are the next wave of crypto that will gain more mass adoption. If you think about the most exciting payment rails, you have real-time payments. I think that’s exciting, too. And it fits in with stablecoins,” Black said.

Some fintechs are already working on unveiling stablecoins. The UK’s ClearBank is working on a stablecoin that will be underpinned by the British pound.

The post Fintech Valuations Plunge as Investment Focus Shifts appeared first on Tech Research Online.

Led by Round2 Capital, this round of funding enlisted the support of investors who are already supporting the startup. These include Brighteye Ventures, Ascension Ventures, Adjuvo, and leading angel investors.

At the same time, Zen Educate has announced the acquisition of Aquinas Education, a teacher staffing agency. Both Zen Educate series B funding and the Aquinas Education acquisition place the EduTech startup squarely on the growth path. Zen Educate currently operates in 11 regions within the UK and 5 states in the US.

Zen Educate Teacher Shortage Crisis Solution

Founded in 2017, Zen Educate focuses on solving the teacher shortage problem in the UK and US. The company uses technology to connect teachers with schools. Just recently, research showed an imbalance between teacher demand and supply. According to the ADP Research Institute, demand for teachers in the US outweighs supply.

Zen Educate digitizes teacher recruitment by providing a digital platform where schools and teachers create profiles. The tech startup uses experience, skills, and proximity data to match the two parties according to their compatibility automatically.

“Zen Educate has been successful in solving a significant challenge faced by educational facilities on a daily basis. The team’s deep understanding of the EdTech landscape is evident,” Round2 Capital CEO and C-Founder, Christian Czernich said.

Through the Zen Educate platforms, schools hire full-time teachers. Teachers use the platform to find part-time teaching jobs that suit them.
Zen Educate CEO and Co-Founder, Slava Kremerman said, “Educators are looking for greater flexibility in their work, and thus, there is a greater need for flexible working solutions in education like Zen Educate.”

In the last year, teachers have delivered over 2 million hours of education through the Zen Educate platform.

Scaling Up Through SaaS Products

The EdTech startup will be using the funds raised through the Zen Series B round of funding to expand operations in the US and UK. Part of this will involve completing various acquisitions. The company will also be scaling up its workforce management software to include SaaS products to enable schools to manage compliance, credentials, and absence better.

“We’ve been on a mission to solve schools’ workforce challenges. This investment brings us closer to our goal of helping the education system save over $100 million annually through our fairer, more efficient recruitment model. As we enter into the next phase of our journey, we aim to reach out to more educational institutions across the UK and US,” Kremerman added.

Zen Educate has demonstrated stable growth since its launch. Currently, the startup has a workforce of 300. In 2019, Zen Educate received the Standard in Recruitment (SiR) accreditation and has been featured on the Deloitte Fast 50 and FT 1000.

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