Flap Multipurpose Cooperative

What Flap Multipurpose Cooperative does

FLAP (Alausa) Cooperative Multipurpose Society Limited (trading as FLAPCOOP) is a Lagos, Nigeria-licensed cooperative society founded in 2020 under license LSCS 17428 issued by the Lagos State Ministry of Commerce, Industry and Cooperatives. It pools member savings and capital to operate a multi-vertical platform spanning savings and loans (AssetBanking), agricultural land investments (AgroLand Vest), a dedicated real estate subsidiary (AssetRise, incorporated September 2022), the PalmRich palm estate program, an Estate Development Partnership (EDP) offering 35-45% headline returns over multi-year horizons, and the Eko 1 Million Yams yam cultivation program. The cooperative reports a base of 5,000+ users, 4,352+ self-described happy customers, and 200-328+ paid investors. Distribution is anchored by a network of 70,000+ registered realtors/affiliates and complemented by a mobile application launched in 2023.

The business model combines membership-based revenue (subscription fees, document processing fees) with transaction-based revenue from land and estate sales (units priced from N700,000 to N22.5 million), loan interest (up to 500% of member savings balance), and property rental income management. Core infrastructure assets include a 245+ acre palm farm, approximately 12 estates spanning ~1,500 acres, and a planned 3,000-hectare PalmRich Phase 6 development. Execution is supported by institutional partnerships: Zenith Bank (escrow banking), AG Mortgage Bank Plc (mortgage financing for Phase 6 in May 2024), IITA (yam seedlings from February 2023), and Okitipupa Oil Palm PLC (palm feedstock and processing).

The customer base is retail and small-ticket, concentrated in Nigeria with current estates in Lagos, Ogun, Oyo, and Ondo states. The cooperative has articulated a "Vision 2050" roadmap targeting 10 million partners across 50 nation-states, signaling an explicit ambition to scale membership, geographic reach, and product surface well beyond the current footprint.

Name

Flap Multipurpose Cooperative

Legal name

FLAP (ALAUSA) COOPERATIVE MULTIPURPOSE SOCIETY LIMITED (FLAPCOOP)

Website

https://flapcoop.com

Company type

Private

Founded year

2020

Operating status

Operating

Short description

FLAPCOOP is a Lagos-licensed Nigerian cooperative (founded 2020) that pools member savings to deliver retail real estate (PalmRich, AssetRise), agricultural land investments (AgroLand Vest, Eko 1 Million Yams), and savings/loan products to a base of 5,000+ users via a 70,000+ affiliate network.

Ownership category

akta.pro rank

Product category

Cooperative Investment Services

NAICS

Savings Institutions and Other Depository Credit Intermediation (52218), Funds, Trusts, and Other Financial Vehicles (525), Portfolio Management and Investment Advice (523940)

SIC

Savings Institutions, Not Federally Chartered (6036), Real Estate Dealers (For Their Own Account) (6532), Investment Advice (6282)

akta.pro primary industry

Multifamily (Apartment) Property Management (BPAJAGAD)

Keywords

• Cooperative savings loans
• Real estate investment
• Agricultural investment
• Asset banking
• Estate development partnership

Headquarters

HQ city

Lagos

HQ country

Nigeria

HQ region

Africa

Offices5 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Infrastructure, Marketing or Sales, Personnel, Technology or R&D, Supply Chain

Revenue model

1. Membership Subscriptions: Revenue from membership admission and annual subscriptions. Membership is automatic upon subscription and payment of requisite sums.
2. Real Estate Sales: Revenue from sale of land, estates, and properties including PalmRich Estate, City Ambience, City Link Gardens, Visionary Garden City, and Crystal City projects.
3. AgroLand Vest Investments: Revenue from agricultural investment products including Palm Oil Vest, Palm Kernel Vest, and Cassava/Garri Vest where investors purchase land units and earn rental income.
4. Estate Development Partnership (EDP): Revenue from joint venture estate development projects where investors provide capital and earn returns of 35% (12 months) or 45% (18 months) profit on their investment.
5. Loan Interest: Revenue from providing loans to members up to 500% of their savings with interest charges.
6. Document Processing Fees: Fees for processing land documentation including Deed of Assignment (N50,000), Survey (N300,000), and Development fees (N500,000).
7. Property Rental Income Management: Revenue from managing rental properties for investors through management agreements.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels8 records

Core offering

Flap Multipurpose Cooperative Society Ltd is a licensed Nigerian cooperative that pools members' savings to deliver cooperative savings products (with up to 500% loan support), AssetBanking savings toward asset ownership, and investment products including PalmRich Estate (oil palm farming combined with strategic land ownership), AgroLand Vest (palm oil, palm kernel, and cassava/garri agricultural land units), and Estate Development Partnership (real estate joint ventures with guaranteed buyback and 35-45% returns). It also sells developed housing estates such as City Ambience and City Link Gardens through its AssetRise subsidiary.

Differentiator

Problem solved

Functional benefit

Brands

• AgroLand Vest: Investment program enabling ownership of agricultural land units for farming and estate development
• PalmRich Estate
• AssetRise
• AssetBanking
• Estate Development Partnership (EDP)
• Palm Oil Vest
• City Ambience
• Eko 1 Million Yams

Products and services

• Cooperative Savings and Loans Membership-based savings products and loans of up to 500% of savings, with target savings, business and personal loans, access to project finance, LPOs, and grants. Available to members of the Flap Multipurpose Cooperative Society.
• AgroLand Vest Online agricultural investment program offering Palm Oil Vest, Palm Kernel Vest, and Cassava/Garri Vest land units at N10,000 per slot (minimum N30,000), with 14% ROI on 6-month and 30% ROI on 12-month plans. Targeted at investors seeking managed agricultural exposure and passive income.
• PalmRich Estate Combined strategic land ownership and oil palm farming estate. Available plots include 500 SQM, 1 Acre (₦9,000,000 outright), and 1 Hectare (₦22,500,000 outright) with installment options. Provides passive income from oil palm farming, land value appreciation, and 100% insurance via LeadWay Assurance.
• AssetRise Real Estate Investment Real estate investment platform powered by Flap Coop, offering Buy to Own, Estate Development Partnership, Estate Development Funding, and Property Rental Income products. Registered with CAC, licensed by LASRERA and EFCC-SCUML.
• Estate Development Partnership (EDP) Joint venture real estate development offering tiered packages (Basic 1-5 plots, Premium 1-5 acres, Advance 5-10 acres, Executive 10-100 acres) with 100% buyout guarantee, 35% profit over 12 months or 45% profit over 18 months, and escrow-secured transactions via Zenith Bank PLC.

Quantifiable outcome

• Up to 500% loan support for members
• +7 more outcomes

Named customers5 records

Segments6 records

Ideal customer profiles4 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature4 records

Partnerships

Five partnerships are on record, tiered core, flagship and regulatory.

• International Institute of Tropical Agriculture (IITA)coreStrategic or Co-development Partner · 15 February 2023IITA provides quality yam seedlings and agricultural consulting for the Eko 1 Million Yams project. The partnership aims to revolutionize agriculture in Lagos State through best practices and high-quality organic yam production, with IITA serving as technical consultant.
• AREIN (Agriculture and Real Estate Investment in Nigeria)flagshipGTM or Marketing Partner · 9 April 2022FLAP Cooperative organizes the annual AREIN event - Retreat, Award and Luncheon - which brings together high-network individuals, real estate practitioners, agricultural stakeholders, and industry experts. The event serves as a platform for networking and education on real estate and agricultural investment opportunities.
• Assetrise LimitedcoreStrategic or Co-development Partner · 1 January 2021Assetrise Limited is powered by FLAP Cooperative and serves as the real estate investment arm of the cooperative. It offers Buy to Own, Estate Development Partnership, Estate Development Funding, and Property Rental Income products. Registered with LASRERA to practice real estate in Lagos and other parts of Nigeria.
• Okitipupa Oil Palm PLCcoreStrategic or Co-development PartnerPartnership with Okitipupa Oil Palm PLC for palm tree cultivation and oil processing operations. The partnership operates over 245 acres of palm tree farms with processing mill capacity exceeding 10,000 tonnes. Provides expertise in palm oil production and market access.
• Lagos State Ministry of Commerce, Industry and CooperativesregulatoryOthersFLAP Cooperative is licensed by the Lagos State Ministry of Commerce, Industry and Cooperatives (License No. LSCS 17428) to operate as a multipurpose cooperative society. This licensing enables the cooperative to legally conduct business in Lagos State.

Scale indicators14 records

Recent moves6 records

Expansion highlights6 records

Regional players

• PropertyPro: PropertyPro is a leading Nigerian real estate marketplace connecting buyers, sellers, and renters of property — overlapping with Flap's real estate listing and property acquisition activity within the same Nigerian market but operating as a listing platform rather than a cooperative developer.

Emerging players

• FairMoney: FairMoney is a Nigerian digital lending and savings platform offering micro-loans and wealth products to underbanked retail customers — an emerging player whose digital-only savings and credit model overlaps with Flap's loan-to-members offering, but without the real-estate and agricultural investment verticals.

Direct peers

• Cowrywise: Cowrywise is a Nigerian savings and investment platform that pools retail savings into mutual funds and cooperative-style wealth products, directly overlapping with Flap's savings-plus-investment value proposition for the same retail-investor audience in Nigeria.
• Piggyvest: Piggyvest is one of Nigeria's largest cooperative-style savings and investment platforms, competing with Flap on retail savings, target savings, and investment products aimed at building wealth through disciplined contributions.
• Risevest: Risevest is a Nigerian investment platform offering dollar-denominated and real estate-backed investment products to retail investors, directly competing with Flap's real estate investment and cooperative wealth-creation offerings for the same Nigerian retail-investor segment.
• Bamboo: Bamboo is a Nigerian investment platform offering access to dollar-denominated securities and diversified portfolios for retail investors, competing with Flap's investment-platform proposition while operating under a different regulatory wrapper.

Broad incumbents

• Cooperative Bank of Kenya: Cooperative Bank of Kenya is an established East African cooperative financial institution offering savings, loans, and investment services to members — a broad incumbent analogue to Flap's multipurpose cooperative model, though operating at much larger scale and with a regulated banking license.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutu.be/HDqZBVW97sA
• Facebookweb.facebook.com/flapcoop
• Instagraminstagram.com/flapcoop

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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 Flap Multipurpose Cooperative