Midnite Secures $35 Million to Accelerate Expansion and Innovation
Midnite Raises $35 Million in Series C Funding to Boost Growth
Midnite, a pioneering UK sportsbook and casino platform, has successfully raised an additional $35 million in a Series C funding round. This significant capital injection aims to support the company’s growth and enable the development of innovative gaming products.
Equity Funding Surpasses $75 Million
The recent investment, led by Raine Partners IV—the growth equity arm of The Raine Group—brings Midnite’s total equity financing to over $75 million. Long-term investors such as Play Ventures, Discerning Capital, Makers Fund, and Big Bets also participated, reinforcing confidence in Midnite’s potential.
Furthermore, the company recently secured an additional $100 million credit facility, strengthening its financial foundation for future endeavors.
The funds from this Series C round will be allocated towards expanding Midnite’s operations, enhancing content offerings, and pursuing international market entry. A key focus will be on hiring top talent to drive the company’s ambitious growth strategy.
With a robust proprietary technology platform, Midnite is determined to disrupt the gaming industry and establish itself as a leading tier-1 operator.
Leadership Reflects Optimism About Future Growth
Co-founder Nick Wright expressed gratitude for the continued backing, emphasizing the company’s commitment to scaling rapidly. He highlighted that the new capital will accelerate Midnite’s strategy by investing heavily in its product team to challenge industry norms and attract a new generation of players.
“This funding empowers us to accelerate our growth and transform the gaming landscape with a unique platform tailored for the future,” said Nick Wright, co-founder of Midnite.
John Salter, co-founder and partner at Raine, praised Midnite’s clear vision, innovative spirit, and passion, which underpin his faith in the company’s long-term success.
Anton Backman, general partner at Play Ventures, echoed this enthusiasm, describing Midnite as a pioneering operator focused on integrating social rewards and live operations into the gaming experience. He commended Midnite’s adoption of mobile gaming best practices as a major strength.
Currently, Midnite employs approximately 150 staff members and provides a comprehensive product portfolio that includes sports betting, horse racing wagers, and online casino games.
