Ollie Ring Gambling Expert
Ollie is a sports betting and online gaming expert, with nearly ten years writing and editing experience. He most enjoys deep-dives the fineprint of regulation or data-led reports to bring nuance to his analysis. Away...
Read Full BioUK-based online sportsbook and casino Midnite has raised $10 million (£7.7 million) in a Series B funding round.
Discerning Capital, Play Ventures, and the Rain Group led the round. The company also secured additional investment from both Big Bets and Venrex.
In parallel with the funding announcement, Midnite has appointed David Williams, Partner at Discerning Capital, to its board of directors.
“As investors focused on the global gaming industry, we are incredibly excited to partner with the Midnite team, who have built one of the most compelling challenger brands anywhere in the world,” commented Williams.
He continued: “The Company’s continued growth and marketing efficiency validate the company’s unique positioning in its home market of the UK and its broader status as a best-in-class emerging operator globally.”
Discerning Capital adds Midnite to its investments in U.S. Integrity, Bayes Esports, Huddle, and Streamlayer. Midnite marks Discerning Capital’s first investment in a business-to-consumer-facing gambling product, while the prior-mentioned companies all offer a variety of business-to-business services.
Midnite recently announced that it is the official UK betting and casino partner of the 2025 World Snooker Championship. The company has also launched television and radio advertising, with a 30-second advert aired on Sky, Channel 4, and Channel 5 in the United Kingdom.
Midnite Positioning for Growth in the Competitive UK Market
Nick Wright and Daniel Qu founded Midnite in 2018. It was initially focused on esports but pivoted and added horse racing and casino to the product mix in 2023. Midnite’s team has nearly doubled in size in the last year, from 60 to 110.
In a release, Wright said: “We’re thrilled to have the support of some of the best investors in gaming.” The Co-founder outlined that the capital injection will allow the company to “hit the gas” and move forward with its growth strategy, continuing to build “game-changing products.”
“Our product-centric approach is what has got us to where we are today, and we will continue to place the experience of our players as our highest priority,” continued Wright.
Midnite has lofty ambitions of becoming a tier one operator in the United Kingdom market. Behind the ambitious growth plans is an in-house developed proprietary sportsbook and casino platform. It hopes to “move faster, be holder, and continue to bring fresh, exciting experiences to the market.”
