Midnite Accelerates Growth with $100 Million Credit Facility

Midnite, a UK-focused sports betting operator, has secured a substantial revolving credit facility to support its ongoing expansion efforts. This development follows a recent multi-million-dollar funding round that boosted the company’s capital base.

Financial Flexibility through New Funding

Midnite announced it has obtained a revolving credit facility worth up to $100 million from the House Advantage Fund (HAF), a direct lending vehicle managed by Discerning Capital. This partnership marks a renewed collaboration, as Discerning Capital played a significant role in Midnite’s earlier funding initiatives.

The additional funds will allow Midnite to pursue rapid growth strategies without diluting existing shareholders’ equity. This credit facility is expected to support key areas including marketing expansion and product development, while also enabling the company to invest in attracting high-caliber talent to strengthen its team.

Enhanced Focus on Performance and Marketing

According to Nicholas Wright, CEO of Midnite, the newly acquired capital will enable his team to intensify their efforts in both performance-based initiatives and brand marketing campaigns.

“The flexible nature of the House Advantage structure empowers us to follow our long-term business strategy more confidently and with fewer compromises. This deal also underscores the strong partnership we have cultivated with Discerning Capital,” Wright remarked.

Davis Catlin, managing partner at Discerning Capital, highlighted that this funding approach represents a novel model designed to support promising operators with ambitious growth plans. He elaborated:

“By linking capital deployment directly to marketing performance, we enable operators to scale aggressively and sustainably without unnecessary equity dilution or burdensome repayment terms.”

Previous Series B Round Raised $10 Million

Earlier, Midnite’s Series B funding round brought in $10 million, adding to its total capital exceeding $35 million. This round was led by Discerning Capital, the Raine Group, and Play Ventures, with contributions from Venrex and Big Bets. Following this financing, David Williams, a well-regarded iGaming growth investor and partner at Discerning Capital, joined Midnite’s board of directors.