Published on: January 15, 2026, 07:31h.
Updated on: January 15, 2026, 07:31h.
- The gaming firm secured $35 million through a Series C funding campaign.
- Four existing investors also took part.
- Raine has a strong background in gaming investments.
Midnite, a rapidly expanding online casino and sportsbook based in the UK, announced that it has successfully raised $35 million in a Series C funding round.
The funding was spearheaded by Raine Partners IV, a prominent growth equity fund managed by the Raine Group. Previous investors, including Play Ventures, Discerning Capital, Makers Fund, and Big Bets, also participated in this round. With this latest injection of capital, Midnite has amassed over $75 million in equity financing.
Most of the investment will be allocated towards enhancing Midnite’s workforce, reinforcing its product-focused strategy, and closing the gap with leading competitors in the market,” stated the gaming firm. “Midnite aims to grow its product team by recruiting top talent known for disrupting traditional industries. All engineering personnel will stay in the UK to nurture world-class, local expertise.”
The news of this Series C funding follows closely after Midnite secured a $100 million credit facility from House Advantage Fund (HAF) approximately three months ago.
Raine Group: A Familiar Name Among Gaming Investors
Gaming investors may recognize the Raine Group, as they were one of the early backers of DraftKings (NASDAQ: DKNG). Raine also formerly held an investment in Accel Entertainment (NYSE: ACEL), a distributed gaming operator.
Raine was also involved with the online lottery provider Jackpocket, which DraftKings acquired nearly two years ago for a substantial $750 million in cash and stock. Additionally, the firm has a stake in Fliff, a social sports prediction platform driven by sweepstakes. Raine seems optimistic about Midnite’s future.
“We’re excited to strengthen our partnership with Midnite as it continues to enhance its product offerings and scale its operations,” stated John Salter, co-founder of Raine. “The Midnite team has a strong vision, dedicated work ethic, and the ambition required to lead in product innovation. We are eager to witness what lies ahead as Midnite shapes the future for the next generation of players.”
Midnite’s Position in a Competitive Landscape
Midnite stands to benefit significantly from the funding given that the UK market is among the most developed and competitive sports wagering sectors globally, dominated by major entities like Entain, Flutter Entertainment, and William Hill, among others.
Midnite is taking on this competition by focusing on customer experience and technological advancements, which could yield long-term benefits.
“The company sets itself apart by creating its entire sportsbook and casino platform in-house, aiming to connect fans with their favorite games more closely. This proprietary technology allows Midnite to maintain a truly customer-focused approach, providing an exceptional player experience while upholding top-notch safety standards,” the company affirmed in its press release.