Singularity Investments has announced it has invested an undisclosed sum into mobile advertising startup Sliide Airtime, to enable the startup to grow its business following a successful Nigerian launch.
Disrupt Africa reported diaspora-founded startup Sliide Airtime launched a lock screen content delivery platform in Nigeria in March, offering users a new channel to access online content while also earning free airtime.
The Sliide Airtime app provides personalised content when the user unlocks their mobile device; while users can also earn free airtime by completing in-app offers.
The Singularity funding will be used to further grow Sliide’s Nigerian operations, and the startup plans a further fundraising round later this year with a view to financing expansion into South Africa, Ghana and Kenya.
“The response to our launch in Nigeria was phenomenal and exceeded expectations. Our business model has proven successful, and we welcome Singularity’s involvement as we continue to grow the company,” said Corbyn Munnik, chief executive officer (CEO) and co-founder of Sliide Airtime.
Singularity said the investment reflects its commitment to the Nigerian telecoms market; following hot on the heels of Singularity’s investment last month in corporate market intelligence startup, Asoko Insight.
“Sliide has an innovative business model that enables operators and consumer brands to achieve sustainable customer engagement in competitive environments, while enhancing the value of the mobile experience for their customers,” Singularity Investments principal Issam Darwish said.
“We believe that, by combining the innovative ideas and skills of the Sliide team with our expertise in scaling pan-African businesses, the Sliide platform is just the first of the company’s disruptive mobile-based products that will add tremendous value to the mobile ecosystem across Africa.”