The foremost online distributor of Nigerian movies and music, iROKO Partners has announced an additional investment of $2 million from Sweden-based Kinnevik, an early investor in Groupon.

According to a press statement, the new deal is part of iROKO Partners’ second round of investment with US-based hedge fund, Tiger Global – the first was made in April 2012.

iROKO Partners intends to use the additional investment to expand its operations in New York, London and Lagos, as well as to purchase more content for its online movies and music platforms.

Speaking on the new investment, Jason Njoku, Founder and CEO of iROKO Partners said: “We were already on our way towards becoming a world class company, but this investment is an awesome catalyst for us to increase our offering and solidify our market leadership”

“We’re extremely fortunate to have Kinnevik’s expertise on our board and we’re looking into new and innovative ways that we can bring incredible Nigerian entertainment to the world”, he added.

Hailed as the “Netflix of Africa”, iROKO Partners was established in 2010 to bring Nigerian movies popularly referred to as Nollywood and music to Africans outside the continent. With registered users on iROKOtv exceeding 560,000, on July 1, 2012, the site switched to a subscription-based model.

Commenting on iROKOtv’s progress, Mia Brunell Livfors, President and CEO of Investment AB Kinnevik, said: “We are impressed by the growth and entrepreneurship of iROKO Partners. In two years it has become one of Africa’s top tech companies and a global leader in the distribution of Nigerian movies and music, one of the largest and fastest content categories in the world.”