AdTech startup receives undisclosed funding from Singularity Investments

Singularity Investments have just announced that they have made an undisclosed amount of investment into mobile advertising startup, Sliide Airtime.

Sliide Airtime is a content delivery platform that changes the way people interact with their phones by subsidizing their airtime - pretty much like MyAds.

They do this by gifting consumers free airtime in return for engaging with content delivered to the lock screen of their phones.

Sliide Airtime works by providing users with content tailored to their interests, an information they would have already put into the Sliide database.

READ: New app gives away N3 million in airtime rewards in the first 12 hours of being live

Users of the service then receive news and entertainment content from local and international media, in addition to branded and sponsored content. Telcos also benefit from the arrangement via shared advertising revenue and increase in user engagement.

“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 CEO/Co-founder of Sliide Airtime, Corbyn Munnik.

Commenting on the investment, 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.”

This will be the second investment Singularity has made in Nigeria following last month's funding of corporate market intelligence startup, Asoko Insights.