Singularity Investments, a private investment office primarily focused on investment opportunities in Africa and North America, has invested an undisclosed sum in Sliide Airtime, a privately-held technology company with offices in Lagos and London.

This investment follows last month’s investment in Lagos-based corporate market intelligence startup, Asoko Insight.

Issam Darwish, Singularity Investments Principal, said: “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.”

“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,” he added.

Sliide Airtime’s content delivery platform is changing the way people interact with their phones by subsidising their airtime.

The Sliide Airtime service gives consumers the ability to earn free airtime, whilst also keeping up-to-date with all their favorite news and gist.

The company believes that with services like WhatsApp, Facebook, Instagram, Twitter and Eskimi all growing in popularity in Nigeria, there is an increasing need to find new ways to help Nigerians pay for internet access.

The platform works by providing users with personalized content based on their interests, an information they would have already entered into the Sliide database.

Users then receive news and entertainment from local and international media, as well as branded and sponsored content.

Mobile network operators also benefit through shared advertising revenues and increased user engagement.

Sliide Airtime has partnered with a variety of organisations to deliver branded content, including Google, Facebook’s Audience Network, and Twinpine, the largest mobile advertising network in Africa and part of Africa’s leading digital media business, Terragon Group.

The company said it will use this new funding to expand its operations in Nigeria.

Corbyn Munnik, CEO and co-founder of Sliide Airtime, said: “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.”

Munnik said that another funding round planned for later this year will be used to fund its expansion to other African countries like South Africa, Ghana and Kenya.