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January 15, 2026 – Midnite, a hyper-growth UK sportsbook and casino operator, has announced the successful completion of a $35 million Series C funding round led by Raine Partners IV, the flagship growth equity fund of The Raine Group. The Raine Group is a leading global investment and strategic advisory firm focused on gaming, sports, technology, music, and entertainment.
Existing investors Play Ventures, Discerning Capital, Makers Fund, and Big Bets also participated in the round, bringing Midnite’s total equity funding to more than $75 million. This latest capital raise follows the $100 million credit facility secured earlier in the year to support marketing initiatives and further business expansion.
According to Midnite, proceeds from the Series C round will be used to scale operations, accelerate development of best-in-class products, and support international growth. The company aims to leverage its in-house technology stack to disrupt the global market and position itself as a tier-1 operator. A significant portion of the investment will be directed toward expanding human capital, strengthening its product-led strategy, and closing the gap with the market’s largest operators. Midnite plans to continue expanding its product team by hiring talent with experience in transforming established industries, while keeping all engineering teams onshore in the UK to invest in world-class local expertise.
Nick Wright, co-founder of Midnite, said:
“We’re thrilled to have the continued support of some of the best investors in gaming. 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. This capital enables us to hit the gas and accelerate our growth strategy as we pursue tier-1 operator status, investing heavily in our product team to truly disrupt the industry with a challenger brand platform for a new generation of players.”
John Salter, Co-Founder and Partner of Raine, said:
“We’re pleased to deepen our relationship with Midnite as it continues to develop its product portfolio and grow at scale. The Midnite team has a clear vision, with the dedication and passion necessary to be an industry leader in product innovation. We look forward to seeing what comes next as Midnite paves the path forward for the next generation of players.”
Anton Backman, General Partner at Play Ventures, said:
“We’re excited to continue backing Midnite as they scale towards tier-1 status. Midnite is a true first-mover in building social, rewards and live operations at the core of the gaming experience, combining operational excellence in real-money gaming with best practices from leading mobile game publishers. Our firm’s thesis is deeply rooted in the belief that these industries will continue to converge, and that Midnite is best positioned to capitalize on this opportunity.”
Midnite’s sportsbook was launched in 2018 by Nick Wright and Daniel Qu, who previously created the daily fantasy sports platform Dribble in partnership with Sky Bet. The company added horse racing and casino to its product offering in 2023 and entered a period of rapid growth in 2025, expanding its team to 150 employees.
