UK Sportsbook Midnite Raises $35M in Funding Round Led by Raine
Posted on: January 15, 2026, 07:31h.
Last updated on: January 15, 2026, 07:31h.
- The gaming company raised $35 million in a Series C capital raise.
- Four previous investors also participated.
- Raine has extensive gaming investing experience.
Midnite, a fast-growing UK-based online casino and sportsbook operator, said it raised $35 million in a Series C funding round.
The capital raise was led by Raine Partners IV, which is the marquee growth equity fund managed by the Raine Group. Previous investors Play Ventures, Discerning Capital, Makers Fund and Big Bets also participated in the capital raise. With that $35 million, Midnite has raised more than $75 million in equity financing.
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,” according to a statement issued by the gaming company. “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.”
News of the Series C funding arrived about three months after Midnite procured a $100 million credit facility from House Advantage Fund (HAF).
Raine Familiar to Gaming Investors
Experienced gaming investors may be familiar with the Raine Group as the venture firm was an early investor in DraftKings (NASDAQ: DKNG). Raine also previously held a stake in distributed gaming operator Accel Entertainment (NYSE: ACEL).
Raine was also an investor in online lottery provider Jackpocket, which DraftKings acquired about two years ago for $750 million in cash and stock. The venture capital firm also has a stake in Fliff, a sweepstakes-driven social sports prediction platform. Raine appears constructive on Midnite.
“We’re pleased to deepen our relationship with Midnite as it continues to develop its product portfolio and grow at scale,” said Raine co-founder John Salter in a statement. “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 Operating in Competitive Market
Midnite could make good use of the aforementioned capital because the UK is one of the most mature and competitive sports wagering markets in the world — one dominated by large players such as Entain, Flutter Entertainment, and William Hill, among others.
Midnite isn’t shying away from that competition is betting its customer- and tech-first approaches could pay long-term dividends.
“The company distinguishes itself by developing its entire sportsbook and casino platform in-house to bring fans closer to the games they love. This proprietary technology empowers Midnite to prioritise a truly customer-centric approach, delivering a superior player experience while maintaining the highest safety standards,” said the company in the press release.
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