Les Cigales Investies

What Les Cigales Investies does

Les Cigales Investies is the public-facing identity of the Fédération Nationale des CIGALES, a French non-profit association (loi 1901) founded in 1983 that organizes a federated network of approximately 200 local solidarity investment clubs and 13 regional associations spanning 10+ French regions plus Guadeloupe. Each Club CIGALES pools 5-20 members who save regularly over renewable 5-year cycles and collectively deploy that capital as minority equity, associate current account contributions, or honor loans into local SMEs, cooperatives, and associations with social, environmental, or cultural missions. Around 2,500 member-citizens (cigaliers) invest roughly €600,000 annually into approximately 150 projects, supporting the creation or consolidation of more than 300 jobs each year and providing human accompaniment and networking beyond the capital itself.

The federation's core "products" are organizational rather than technological: the Club CIGALES structure, the Capital Investment instrument, Human Accompaniment over 5-year commitments, the Bourse à Projets matching forum, and the regional/national coordination bodies. There is no software platform, API, or proprietary technology; the offering is the membership-based investment vehicle governed by the CIGALES charter and certified by the Finansol label managed by FAIR. Supporting entrepreneurs receive not only capital but also skills, expertise, and network access from club members, while savers receive ethical placement of their savings plus eligibility for tax deductions.

The business model is non-commercial and member-financed rather than profit-driven. The federation itself operates with only 5 employees and is funded through member dues, partner contributions, and grants, with no pricing tiers or revenue line. Distribution and member acquisition run through community-led channels: regional associations, ESS events such as the Forum national de l'ESS, popular-education formats (ciné-débats, lecture gesticulée, local initiative markets), and word-of-mouth. CIGALES is a founding member of FAIR (formerly Finansol) and maintains co-investment partnerships with Garrigue, La NEF, and France Active, positioning itself as a pioneer of the social and solidarity economy in France.

Name

Les Cigales Investies

Legal name

Fédération Nationale des CIGALES

Website

https://cigales.asso.fr

Company type

Private

Founded year

1983

Operating status

Operating

Headcount range

1–10 employees

Short description

Les Cigales Investies (Fédération Nationale des CIGALES) is a French non-profit federation founded in 1983 that coordinates 200 solidarity investment clubs and 13 regional associations, pooling savings from 2,500 citizen-members to fund ~150 local SMEs, cooperatives, and associations annually with social, environmental, or cultural missions.

Ownership category

akta.pro rank

Product category

Social and Solidarity Finance

NAICS

Civic and Social Organizations (813410)

SIC

Services-Membership Organizations (8600)

akta.pro primary industry

Specialty Membership Clubs (Category-Focused) (CRAEADAI)

akta.pro secondary industry

Regional & Local Membership Warehouse Clubs (CRAEADAH)

Keywords

• Solidarity investment clubs
• Citizen impact investing
• Community equity finance
• Social economy financing
• Local SME funding

Headquarters

HQ city

Paris

HQ country

France

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Collective Savings and Investment: Cigaliers (club members) save regularly, and the collective savings are invested in small and medium enterprises, cooperatives, and associations through capital contributions, associate current accounts, or honor loans. The model is not profit-driven but aims for sustainable returns that support local economic development.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Les Cigales Investies is a federation of approximately 200 solidarity investment clubs (Club CIGALES), each composed of 5-20 citizens who pool regular savings over a 5-year renewable period to collectively invest in local SMEs, cooperatives, and associations with social, environmental, or cultural missions. Beyond financial capital contributions (minority equity stakes, associate current accounts, or honor loans), clubs provide 5-year human accompaniment — skills, expertise, and networks — to entrepreneurs, supported by a network of 13 regional associations and the national federation.

Product overview

Les Cigales Investies operates as a network of solidarity investment clubs (Club CIGALES) rather than a software product. The core offering consists of Club CIGALES, which are small groups of 5–20 citizens who pool savings over 5 years to make minority capital investments in local SMEs, cooperatives, and associations. This is complemented by human accompaniment services where club members provide skills, expertise, and networks to supported entrepreneurs. The national federation and regional associations coordinate the movement, maintain quality standards through the CIGALES charter, and facilitate connections via tools such as the Bourse à Projets. There is no software platform, API, or technology product; the value proposition is purely financial and human capital support for solidarity-based local economic development.

Differentiator

Problem solved

Functional benefit

Products and services

• Club CIGALES

Quantifiable outcome

• 2,500 citizens invest €600,000 annually, supporting 150 projects and creating/consolidating 300+ jobs

Named customers2 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators6 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• La Nef: France's ethical/Cooperative bank, partner of CIGALES (co-financed Atelier Paysan). Broader scope — full-service cooperative bank offering savings accounts and loans under ethical-finance principles; overlaps with CIGALES on financing solidarity enterprises but is a regulated credit institution.
• Triodos Bank: European ethical/sustainable bank active in France, operating broadly in solidarity and sustainable finance. Much larger scale and full banking license; competes for the same ethical-savings customer but with a fundamentally different delivery model (institution vs. community club).

Emerging players

• MiiMOSA: Leading French crowdfunding platform dedicated to agricultural and food solidarity projects. Overlaps with CIGALES' investment focus but provides a fully digital onboarding and transaction experience — emerging competitive pressure on CIGALES' traditional in-person club model.

Direct peers

• Herrikoa: Citizens' investment cooperative in the Pays Basque region pooling member savings to finance local solidarity projects — near-identical CIGALES model adapted to a regional territory; cited in French solidarity-finance literature as a conceptual twin.
• Slow Money: US-based movement mobilizing citizen capital for local, organic, and small-scale food enterprises — conceptually a direct international cousin of CIGALES; operates via local chapters pooling small donations for local food/farm projects.
• Femu Qui: Corsican solidarity investment company (SCIC) financing local enterprises with citizen savings. Operates as a territorial twin of CIGALES — same pooled-savings, minority-equity logic targeting solidarity projects in a defined region.
• Initiatives pour une Autre Économie (IPA2E): French citizen-investor initiative mobilizing savings for solidarity projects, structurally parallel to CIGALES. Member of the broader French civic-finance ecosystem with shared ESS framing and Finansol-labelled activities.
• France Active: National network financing solidarity entrepreneurship across France via a federated association structure. Frequent co-investor with CIGALES clubs (e.g., Atelier Paysan) and shares the same ESS mission and regional federations model.
• Garrigue: French cooperative society for solidarity financing, created in 1985 to complement CIGALES. Operates the same kind of citizen-investor model and invests in solidarity enterprises — its existence is explicitly tied to complementing CIGALES' financing role.

Others

• FAIR (ex-Finansol): Federation of 110+ solidarity-finance enterprises, manages the Finansol label under which CIGALES club co-ownership shares are certified. Acts as the industry's umbrella label-and-advocacy body; CIGALES is a founding member and dependent partner for credibility/label access.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/les-cigales-investies

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

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M&A

Investments

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

Frequently asked questions about Les Cigales Investies