Midnite has secured a fresh investment of $35m (£26m) following the completion of its Series C funding round.
The funding round, which takes Midnite’s total level of investment beyond the $75m mark, was led by global investment firm The Raine Group, while existing Midnite investors also participated.
Existing investors include Play Ventures, Discerning Capital, Makers Fund and Big Bets.
In April last year, the group secured $10m in a Series B which came after raising $16m in its Series A back in February 2022.
The challenger brand then secured a $100m credit facility in October, earmarked to fund marketing initiatives and further business growth.
Midnite said that the proceeds from the latest funding round would be used to “scale operations, accelerate development of best-in-class products and support international expansion”.
The operator also said the investment would go some way to helping it establish itself as a tier-one operator.
A Midnite statement read: “Midnite plans to leverage its in-house technology stack to disrupt the global market and position itself as a tier-one operator.
“A majority of the investment will be channelled into expanding Midnite’s human capital, bolstering its product-led strategy and helping to close the gap with the market’s largest operators.
“Midnite will continue to build out its product team by hiring leading talent with a track record in disrupting established industries. All engineering teams will remain onshore in the UK to invest in world-class, local talent.”
Midnite co-founder Nick Wright added: “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-one 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 at The Raine Group, 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.”
Midnite continued its sponsorship push in the UK market last month by becoming the betting and casino partner for the 2026 Johnstone’s Paint Masters by World Snooker Tour (WST).
The post Midnite secures a further $35m investment after Series C funding round first appeared on EGR Intel.
Latest fundraising cycle led by The Raine Group, with the UK challenger brand aiming to “disrupt the global market and position itself as a tier-one operator”
The post Midnite secures a further $35m investment after Series C funding round first appeared on EGR Intel.