Midnite, a London-based sportsbook and casino operator, announced $35 million in new funding. The Series C round was led by The Raine Group and totals the company’s equity capital at over $75 million.
The company will invest its new funding in scaling operations, accelerating product development and and supporting the international expansion of its betting platform. Midnite will put the majority of this new capital toward building out its team with a focus on its product organization.
“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,” Nick Wright, Midnite co-founder, said in a statement. “This capital enables us to hit the gas and accelerate our growth strategy as we pursue tier-1 operator status, investing heavily in our product team to truly disrupt the industry with a challenger brand platform for a new generation of players.”
