What Etic does

ETIC (legal name ETIC – Foncièrement Responsable) is a French solidarity real estate company founded in 2010 by Cécile Galoselva after six years at Ethical Property in the UK. Operating as a SAS (Société par Actions Simplifiée) under ESUS (Entreprise Solidaire d'Utilité Sociale) certification, the company acquires, develops, and manages a network of 10 tiers-lieux (third places / coworking and office spaces) across 6 French cities, totaling €64M in real estate assets under management as of 2024. Its tenants are exclusively organizations in the Social and Solidarity Economy (ESS) — associations, cooperatives, ESUS-certified enterprises, and social innovators — to whom it rents below-market workspace in eco-designed buildings. ETIC employs low-tech sustainable construction methods including passive thermal comfort, biosourced materials, and reuse principles, with 70% construction waste valorization achieved on the WIKIVILLAGE project.

ETIC generates revenue through three streams: recurring rental income from its tiers-lieux portfolio, recurring solidarity capital raises (1–2 per year) from individual and institutional investors including Amundi, ANRU, and Banque des Territoires, and professional services for organizations seeking to create their own tiers-lieux. Pricing for workspace is contact-based and varies by city and space type, with the company emphasizing affordability for ESS tenants while maintaining ESUS-mandated salary ratios (highest at 2.8x lowest) and triple-bottom-line reporting. Distribution is primarily direct via website contact forms and referrals through ESS networks such as CRESS, France Active, and INCO.

The company is part of the Ethical Property European family (UK, Belgium, Scotland, Wales), shares the Quintessentielles ethical code across the network, and is recognized by 20+ awards including BCG's Social Entrepreneur of the Year (2015). Notable resident organizations include Étamine, Jeunesse au Plein Air, Don en Confiance, Le Rire Médecin, Unis-Cité, La Koncepterie, and La Fabrique de la Logistique. Since inception ETIC has facilitated the creation of 1,491 non-relocatable jobs and avoided 574 tonnes of CO2 emissions in 2023.

Name

Etic

Legal name

ETIC – Foncièrement Responsable

Website

https://etic.co

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Short description

ETIC is a French ESUS-certified solidarity real estate company that owns and operates 10 eco-designed tiers-lieux (coworking/office spaces) across 6 cities, renting below-market workspace exclusively to Social and Solidarity Economy organizations. Revenue comes from rentals, solidarity capital raises, and tier-lieu creation advisory services.

Ownership category

akta.pro rank

Product category

Solidarity Commercial Real Estate / Coworking Spaces

NAICS

Other Activities Related to Real Estate (531390), Miscellaneous Intermediation (52391)

SIC

Operators Of Nonresidential Buildings (6512), Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Private Sector & Blended Finance Arms (IFC-type) (BPADACAJ)

Keywords

• Sustainable real estate
• Solidarity workspace
• Eco-construction services
• Coworking spaces
• Impact investment

Headquarters

HQ city

Vaulx-en-velin

HQ country

France

HQ region

Europe

Offices9 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Marketing or Sales

Revenue model

1. Commercial Real Estate Rental: ETIC generates primary revenue through renting professional workspace (offices, coworking, meeting rooms, event spaces, workshops, and retail) to ESS organizations in its tiers-lieux. The company owns and manages real estate assets, providing rental income while offering below-market rates to mission-aligned tenants.
2. Solidary Investment Capital Raises: ETIC regularly opens its capital and sometimes issues bonds, allowing individuals and institutions to become shareholders. Operations occur 1-2 times per year, with capital used to finance new real estate projects. Investors receive tax benefits (Madelin, IR-PME devices) and solidarity returns.
3. Third Place Creation Advisory: ETIC provides consulting services for organizations wanting to create their own tiers-lieu, offering support from project design through to management and operation. This includes montage du modèle, conception-réalisation, and mise en exploitation services.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels7 records

Core offering

Etic is a solidarity real estate company (foncière solidaire) that owns and operates tiers-lieux (third places) — coworking spaces, private offices, meeting rooms, event spaces and retail units — exclusively rented to Social and Solidarity Economy (ESS) organizations in France. The company complements its workspace rentals with tiers-lieu creation advisory services for organizations building their own impact real estate projects and offers solidarity investment products (shares, bonds, participatory loans) to individuals and institutions financing these projects.

Product overview

ETIC operates as a solidarity real estate company (foncière solidaire) offering a network of 9 tiers-lieux (co-working/office spaces) across France in Lyon, Montreuil, Castres, Nanterre, Grenoble, Paris, Lille, and Toulouse. These tiers-lieux are exclusively reserved for organizations in the Social and Solidarity Economy (ESS). The company complements its physical spaces with tier-lieu creation advisory services, sustainable real estate expertise, and solidarity investment products for individual and institutional investors. Founded in 2010 and operating under ESUS (Solidarity Company of Social Utility) certification, ETIC's offering centers on eco-responsible workspace communities combined with social finance solutions.

Differentiator

Problem solved

Functional benefit

Products and services

• HÉVÉA – Lyon Tiers-lieu (coworking and office space) in Lyon, France, dedicated to organizations in the Social and Solidarity Economy (ESS). Provides eco-responsible workspaces in an engaged community setting.
• MUNDO-M – Montreuil Tiers-lieu located in Montreuil, offering workspace for ESS structures. Features collaborative spaces and services for organizations committed to social and environmental impact.
• Le VINGT-DEUX – Castres Tiers-lieu located in Castres, providing professional workspace for Social and Solidarity Economy organizations in southern France.
• Le CHÂTEAU – Nanterre Tiers-lieu located in Nanterre, offering eco-responsible office and coworking spaces for ESS structures in the Paris metropolitan area.
• La COOP – Grenoble Tiers-lieu located in Grenoble, providing collaborative workspace solutions for organizations in the Social and Solidarity Economy sector.
• WIKIVILLAGE – Paris Major tiers-lieu in Paris 20e spanning 7,500 m² across 7 levels. Features 40 offices (15-50 m²), open floors of 300-400 m², event spaces including a 118 m² halle, restaurant, productive gardens, and rooftop terrace. Dedicated to social and environmental innovation.
• LA LOCO – Lille Tiers-lieu in Lille's Fives Cail eco-district offering flexible workspace (coworking, shared spaces, private offices). Built with eco-responsible materials including recycled brick aggregates and photovoltaic panels.
• Le FIL – Toulouse Tiers-lieu located in Toulouse providing professional workspace for ESS organizations in the Occitanie region.
• Les HALLES Martiniere – Lyon Tiers-lieu located in Lyon's Martadière area, offering workspace for Social and Solidarity Economy structures.
• Tiers-Lieu Creation Advisory Service Comprehensive advisory service guiding clients through the creation of responsible tiers-lieux. Covers model structuring (Montage du modèle), design and construction oversight (Conception-Réalisation / AMO), and operational launch and management (Mise en exploitation). Targeted at impact investors, local authorities, user collectives, foncières, impact funds and developers.
• Durable Real Estate Services Expertise in sustainable property development including definition of tiers-lieux concepts, performance tracking, and guidance for eco-responsible real estate practices.
• Solidarity Investment Products Placement products enabling individuals and institutions to invest in solidarity finance. Includes solidarity shareholding, bonds, and participatory loans supporting responsible real estate projects. Investors benefit from French tax advantages (Madelin, IR-PME) and receive social, environmental and financial returns.

Named customers9 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Six partnerships are on record, tiered core, major and minor.

• Ethical PropertycoreStrategic or Co-development PartnerETIC is part of the Ethical Property European family, founded in 1998 in Bristol, UK. This family includes entities in England, Belgium, Scotland, and Wales, sharing the Quintessentielles ethical code and best practices for responsible real estate.
• SEMAESTcoreStrategic or Co-development PartnerSEMAEST (Société d'Économie Mixte d'Animation Économique de la Ville de Paris) supported the WIKIVILLAGE project through a competitive process for the Cardeurs-Vitruve sector in Paris 20e.
• DVVD Architectes & IngénieursmajorImplementation/ SI/ Consulting PartnerDVVD led the architectural and engineering design of WIKIVILLAGE, implementing innovative sustainable building approaches including wood construction, biodiversity, water management, and climate adaptation.
• REI HabitatmajorImplementation/ SI/ Consulting PartnerREI Habitat partnered with ETIC and DVVD on the WIKIVILLAGE project, contributing to the eco-design approach for the sustainable building.
• ARESOminorStrategic or Co-development PartnerARESO is an association that supports companies in reusing construction materials, partnering with ETIC to recover tiles, carpentry, windows, and other materials for reuse in building projects.
• Collectif AAAminorStrategic or Co-development PartnerThe AAA collective initially conceived the WIKIVILLAGE project within the 'Réinventer Paris' call for projects, which was then developed further by ETIC and partners.

Scale indicators9 records

Recent moves15 records

Expansion highlights6 records

Direct peers

• Habitat et Humanisme: French foncière solidaire focused on social-impact housing and workspace for vulnerable populations. Operates similarly to ETIC as a solidarity real estate entity with ESUS-style mission alignment, though primarily in residential rather than commercial tiers-lieux.
• Ethical Property: Ethical Property is the UK-based parent network from which ETIC was founded (1998 in Bristol). It operates shared ethical workspaces for nonprofits and social enterprises across the UK, Belgium, Scotland, and Wales, using the same Quintessentielles ethical code as ETIC — a direct model-equivalent.
• Foncière Chênelet: French cooperative foncière solidaire developing eco-constructed social housing and third places for ESS actors. Comparable operating model to ETIC: solidarity-financed acquisition/renovation, eco-designed buildings, ESUS-aligned mission, and below-market rents.
• Foncière Terre de Liens: French foncière solidaire that acquires agricultural and rural real estate for organic/impact farming using solidarity savings and ethical investment. Comparable to ETIC as a French solidarity real estate company mobilizing individual investors via tax-advantaged structures (Madelin-equivalent) for social/environmental impact.
• NovESS: NovESS is a French investment fund dedicated to ESS real estate and an existing shareholder of ETIC's WIKIVILLAGE dedicated vehicle. It is a direct capital-stack peer financing comparable solidarity workspace projects across France.

Broad incumbents

• Covivio: Covivio is a major European commercial real estate operator (offices, coworking via WORK&CO brands, flexible workspace) with significant presence in France. Comparable as a broad incumbent offering flexible/coworking solutions, though serving mainstream corporates rather than ESS-tenant mission focus.
• Icade: Icade is a major French listed real estate company with a sustainability-focused portfolio (offices, healthcare, public-purpose real estate). Comparable as a broad commercial real estate incumbent with ESG positioning that overlaps with ETIC's eco-designed workspace focus, though at vastly larger scale.
• Amundi (Real Estate & Impact): Amundi is a major European asset manager with both a real estate platform and ESG/impact investment strategies. As an institutional shareholder in ETIC's WIKIVILLAGE, Amundi represents the broader incumbent ecosystem of capital allocators moving into solidarity/impact real estate.

Others

• Banque des Territoires: Banque des Territoires (Caisse des Dépôts) is ETIC's long-term institutional financing partner and awards-granting body (Grand Prix de la Durabilité 2025). Functions as a critical capital and validation partner — more enabling ecosystem participant than direct peer, but central to ETIC's financing stack.

Regional players

• France Active: France Active is a national network financing ESS structures across France, including those that may lease from or partner with ETIC. Acts as a complementary capital provider rather than direct real estate operator but is closely linked to ETIC's tenant base and partnership ecosystem.

Market position

Strengths5 records

Weaknesses3 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/eticfr
• YouTubeyoutube.com/user/EticFR
• Facebookfacebook.com/etic.fr
• LinkedInlinkedin.com/company/etic-france
• Instagraminstagram.com/etic_foncierement_responsable

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Etic