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London, April 14, 2025 – UK-based sportsbook and casino operator Midnite has announced the successful close of a $10 million (£7.7 million) Series B funding round, bringing its total capital raised to more than $35 million. The round was led by Discerning Capital, The Raine Group, and Play Ventures, with additional backing from Venrex and Big Bets.
In tandem with the funding news, David Williams, Partner at Discerning Capital and a seasoned investor in online gambling ventures, has joined Midnite’s 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.
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.”
Founded in 2018 by Nick Wright and Daniel Qu, the duo behind daily fantasy sports platform Dribble (previously developed with Sky Bet), Midnite has steadily expanded its product offering. In 2023, the company added horse racing and casino gaming, helping to drive substantial growth. Over the past year, its team has nearly doubled, scaling from 60 to 110 employees.
Co-founder and CEO Nick Wright said :
“We’re thrilled to have the support of some of the best investors in gaming. 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. We have product foundations and velocity that no operator has in the UK market.
Our goal is to disrupt the UK betting market and become a tier-1 operator with a challenger brand platform for a new generation of players. With this backing, we can move faster, be bolder, and continue to bring fresh, exciting experiences to the market.”
The funding round caps off a landmark month for Midnite. Earlier in April, the company was named the official UK betting and casino partner of the 2025 World Snooker Championship, further strengthening its brand visibility.
Midnite also recently launched its first national TV campaign, with a 30-second advert airing across Sky, Channel 4, and Channel 5, spanning both traditional broadcast and digital streaming platforms.
As Midnite gears up for its next stage of growth, the company is doubling down on innovation, marketing, and its mission to reimagine betting for a new era of players.
