Midnite secures $10m investment

London-based sportsbook and casino operator Midnite has clinched a $10m (£7.7m) Series B funding round, drawing heavyweight backing from Discerning Capital, The Raine Group, and Play Ventures

In addition, Venrex and Big Bets where also named as investors in the round.

This latest injection brings Midnite’s total funding to over $35m, fuelling ambitions to go beyond being just being another name in the crowded UK market.

What sets Midnite apart isn’t just the size of its war chest. Founded in 2018 by Nick Wright and Daniel Qu, the company has built its own technology platform from the ground up, a rarity in a sector dominated by cookie-cutter white-label offerings.

This homegrown approach gives Midnite the agility to innovate and adapt, a point not lost on its new investors.

Discerning Capital’s David Williams, now a board member, calls Midnite “one of the most compelling challenger brands anywhere in the world,” citing its rapid growth and marketing efficiency as proof of its unique positioning.

The timing couldn’t be better. Midnite recently landed its first major sports sponsorship as the official UK betting and casino partner of the 2025 World Snooker Championship, and its first TV ad campaign has already hit Sky, Channel 4, and Channel 5. The team has swelled from 60 to 110 in just a year, signaling real momentum behind the brand.

Co-founder Nick Wright isn’t shy about the company’s ambitions: “Our goal is to disrupt the UK betting market and become a tier-one 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”.

With fresh capital and an appetite for disruption, Midnite is betting big on a future where innovation, not imitation, wins the day.