Nigeria: AG Rhino signs investment in mobile advertising company

AG Rhino Advisors has announced an investment in Nigeria’s mobile advertising startup Admoni Inc.

Admoni is building a mobile advertising platform in Nigeria. In addition to offering an alternative technology solution to traditional physical billboard advertising, Admoni has created an innovative ecosystem that interacts with and connects users to leading partner brands. Through its proprietary Admoni Coins, the company incentivises and rewards users for interacting with partner brands and products. The Admoni Coins offer redeemable discounts for daily lifestyle purchases such as mobile airtime minutes, data, electricity, ride sharing credit, movie tickets and many more.

According to Uche Alozie, managing partner of AG Rhino, “We are attracted to the simple and disruptive proposition of Admoni in the billboard advertising landscape in Africa. Admoni is a strong addition to our consumer technology platform and will be integral as we grow our Africa technology footprint and strategy. We are excited about the potential for deployment of Admoni into other African and frontier markets.”

AG Rhino Advisors is a business advisory and principal investing firm with offices in Lagos and New York. In addition to the investment in Admoni, AG Rhino has invested across several sectors in the United States and Nigeria, including Sparkle digital bank and Betfarm sports betting company.

As part of this investment, Uche Alozie, co-founder of AG Rhino, joins the company as a director.

Reach Africa’s private equity community by publishing a Showcase Article on Africa Private Equity News. Contact us at editor@africaprivateequitynews.com for our rate card and more information.