Midnite, a London, UK-based licensed esports betting platform, raised $16M in Series A funding.
The round was led by The Raine Group with participation from existing investors Makers Fund and Venrex. As part of the round, The Raine Group’s Co-Founder and Partner John Salter will join Midnite’s Board of Directors and Managing Director Garrett Gomes will become a Board Observer.
Founded in 2018 by Nicholas Wright and Daniel Qu, Midnite is a dedicated esports and sports betting platform.
Proceeds from this round will be used to help fund growth initiatives, including:
- Sportsbook – launched in 2020, Sportsbook allows users to wager on esports and traditional sports.
- CashMode – launched in 2021, CashMode provides skilled gamers the chance to bet on their own gameplay for real cash prizes.
- Casino – launching in 2022, offers users a hyper casual casino and minigames with UI and features designed specifically for gamers.
The company is currently licensed with the British Gambling Commission and is pending licensing approval with the Malta Gaming Authority. Outside of the UK, Midnite has held a soft launch in Brazil and next expects to enter into the Mexico market, which will be accelerated by a partnership with a Mexican operator.
FinSMEs
04/02/2022