Midnite
Overview
Midnite is a UK-based online gambling platform focused on esports and sports betting. Founded in 2018 by gaming enthusiasts Nick Wright and Daniel Qu, Midnite carved a niche in esports betting. With an innovative platform design tailored for the esports community, it has raised over $35 million in funding from prominent investors such as Raine Group and Play Ventures. Headquartered in London, Midnite positions itself as a leader in the iGaming industry by leveraging cutting-edge technology to provide immersive and secure betting experiences.
Recent Developments
- April 2025: Midnite secured a $10 million Series B funding round led by the Raine Group, Play Ventures, and Discerning Capital. This round increases their total capital raised to over $35 million, which will support their UK market expansion and product innovation initiatives. They also announced the appointment of David Williams from Discerning Capital to their board.
- February 2025: Midnite became the official UK betting and casino partner for the 2025 World Snooker Championship, enhancing its visibility and credibility in the industry.
- 2024: Midnite launched its first national TV advertising campaign in the UK to promote its casino offerings, airing on major channels like Sky and Channel 4.
- 2023: Added horse racing and casino to the product mix, aligning with its goal to provide comprehensive gambling experiences.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2018 |
| Headquarters | London, United Kingdom |
| Founders | Nick Wright, Daniel Qu |
| Revenue | Approximately $15M (as of 2025) |
| Key Investors | Raine Group, Play Ventures, Venrex, Big Bets |
| Industry | Online Gambling, Esports Betting |
| Number of Employees | 110 (as of 2025) |
Early History
Midnite was conceptualized by founders Nick Wright and Daniel Qu, who previously co-founded Dribble, a daily fantasy sports platform. They aimed to tap into the burgeoning esports market by creating a platform specifically designed for esports betting. Initially operating from the UK, the company’s focus on user experience and community engagement helped it quickly gain traction among esports fans.
Company Profile and Achievements
Midnite distinguishes itself by offering a user-centric platform that integrates a multitude of features catering to both traditional sports and esports bettors. The platform allows users to bet on a wide range of events, including real-time match results and specific game achievements.
- 2018: Launched its platform in collaboration with Sky Bet, setting a strong foundation in the UK market.
- 2020: Entered the Latin American market, leveraging its innovative technology to appeal to a diverse user base.
- 2022: Closed a $16 million Series A funding round led by The Raine Group, further solidifying its financial standing to scale operations.
Current Operations and Market Position
Currently, Midnite operates primarily within the UK and holds licenses with the British Gambling Commission, with plans to expand its footprint globally. Its market approach emphasizes ease of use and accessibility, making it a go-to platform for younger demographics interested in esports and sports betting. The company's strategic marketing initiatives and partnerships aim to enhance user engagement and brand loyalty.
Conclusion
Midnite stands at the forefront of the esports betting industry, combining innovative technology with a deep understanding of its user base. With significant backing from industry-leading investors, the company is well-positioned to expand its influence within the iGaming sphere. As it continues to evolve, Midnite's commitment to fostering a unique and secure betting experience marks its potential to disrupt traditional sports betting norms and capture new markets.