Midnite Secures Millions of Dollars in Latest Funding Round

UK sportsbook and casino disruptor Midnite announced that it has raised a staggering $10 million in funding, bringing its total capital to over $35 million. Following the funding round, a member of one of its major investors was appointed as director.

The Series B Funding Round Was a Success

According to the announcement, Midnite’s Series B funding round, which was led by Discerning Capital, the Raine Group, and Play Ventures, succeeded in raising $10 million for the company. Additional investors included Venrex and Big Bets.

As a result, Discerning Capital partner David Williams ascended to Midnite’s board of directors. Williams, who is a veteran growth investor focusing on the iGaming industry, described Midnite as an up-and-coming challenger brand that is poised for growth. He expressed excitement about joining its team and praised its strong position in its home market and beyond.

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.

David Williams

Midnite’s Growth Continues

Midnite, for context, is the brainchild of Nick Wright and Danie Qu, the two masterminds behind the daily fantasy sports platform Dribble. Midnite was launched in 2018 and has since experienced rapid growth.

In addition to adding many new gaming verticals to its platform, including horse racing and casino gaming, Midnite almost doubled its team in the last 12 months. The company recently struck a new deal, positioning it as the official UK betting and casino partner of the 2025 World Snooker Championship.

Nick Wright commented on the funding round, thanking all investors who have trusted his team.

This capital enables us to hit the gas and accelerate our growth strategy while 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.

Nick Wright, co-founder, Midnite

Wright added that his team is enjoying a product foundation and velocity that few UK operators can match. He explained that his company’s goal is to disrupt the market and become a tier-1 operator targeting a new generation of players.

Midnite’s co-founder concluded that the latest funding will ensure that his team can move faster.

Midnite Extends Deal with Armalytix

A few days ago, Armalytix, a leading fintech company, revealed the expansion of its open banking partnership with Midnite.

Under the deal, Midnite will benefit from Armalytix’s new instant, machine learning-powered statement scanning solution to perform frictionless customer checks. This will reduce manual work and allow Midnite to better optimize its workforce.

According to Midnite’s DMLRO & anti-financial crime manager, the company will use Armalytix’s automated capabilities to redirect its efforts toward what “truly matters.”