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UK sportsbook and casino operator Midnite has secured $35 million in Series C funding as it looks to scale its platform and push further into international markets. The round was led by Raine Partners IV, the growth equity fund of The Raine Group.
Existing investors Play Ventures, Discerning Capital, Makers Fund, and Big Bets also took part. The raise lifts Midnite total equity funding to more than $75 million.
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The funding comes shortly after Midnite secured a $100 million credit facility earlier this year from House Advantage Fund. That facility closed roughly three months before the Series C round and gives the company additional financial flexibility as it expands.
Midnite said the new capital will support operational scaling, faster product development, and continued investment in its proprietary technology stack. The company also plans to use the funds to support expansion beyond its current markets.
Most of the investment will go toward growing the Midnite team and reinforcing a product-led approach. The company plans to continue hiring senior product and engineering talent, with all engineering roles remaining based in the UK.
Co-founder Nick Wright said Midnite success so far has come from staying focused on player experience. He said the new funding allows the company to move faster on its growth plans while investing heavily in product development to build a strong challenger brand.
Investors echoed that view. John Salter, co-founder and partner at The Raine Group, said the firm sees Midnite as well positioned to compete through product innovation and long term execution. He pointed to the team clarity and focus as key strengths.
Play Ventures also reaffirmed its backing. General partner Anton Backman said Midnite stands out for blending real money gaming operations with product ideas drawn from mobile gaming, particularly around social features and rewards.
Midnite was founded in 2018 by Nick Wright and Daniel Qu. The company launched as a sportsbook and later added horse racing and casino products in 2023.
Growth accelerated in 2025, and the company now employs around 150 people. Midnite operates with an in house technology stack and continues to position itself as a long term challenger brand in the global betting market.
The Raine Group is a global investment and advisory firm focused on gaming, sports, technology, music, and entertainment.