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Midnite Founders Nick Wright and Daniel Qu
UK-based betting and casino platform Midnite has secured $10 million in a fresh Series B funding round, adding more fuel to its plans for faster expansion and product development. The round was backed by Discerning Capital, The Raine Group, and Play Ventures, along with continued support from Venrex and Big Bets.
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This new capital injection brings Midnite’s total funding raised to over $35 million, positioning the company to continue building its platform and scale operations in the UK betting market.
As part of the deal, David Williams, a partner at Discerning Capital, joins Midnite’s board of directors. Williams brings deep experience in gaming-focused investments and said, “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.”
He also noted that Midnite’s growth and marketing efficiency reflect its strong positioning in the UK and its rise as a competitive global operator.
Founded in 2018 by Nick Wright and Daniel Qu, the duo behind fantasy sports platform Dribble (previously partnered with Sky Bet), Midnite started out as a sportsbook. In 2023, it added casino games and horse racing, which helped expand its appeal and user base.
Over the past year, the company has nearly doubled its workforce, growing from 60 to 110 employees. With the new funding, the team is now focusing on speeding up development and growing its reach among UK players.
Co-founder 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.”
He added that player experience will remain their top priority and that Midnite has “product foundations and velocity that no operator has in the UK market.”
Midnite is also investing in visibility. It recently launched its first national TV campaign, with a 30-second ad airing on Sky, Channel 4, and Channel 5, both on TV and streaming platforms. The goal is to boost awareness of its casino offerings.
In addition, Midnite has been named the official UK betting and casino partner of the 2025 World Snooker Championship, further building its presence in the sports betting world.
Wright sees the company’s next steps clearly: “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.”