Midnite has locked in a fresh round of financial firepower. The UK sportsbook and casino operator has secured a USD 100m (ca, EUR 85m) financing deal from House Advantage Fund. The facility is designed to give the challenger brand more room to scale in the UK iGaming market and beyond.

  • The USD 100m credit deal includes a USD 20m (ca. EUR 17m) revolving facility provided by House Advantage Fund (HAF), a financing strategy set up by Discerning Capital and PvX Capital. It is specifically designed to back user acquisition in regulated gaming and consumer app sectors. The structure lets Midnite scale without tapping into traditional, restrictive venture capital routes.

  • Discerning Capital, a Las Vegas-based growth investor, already led Midnite’s USD 10m (ca. EUR 8.5m) Series B round in April 2025. PvX Capital, based in Singapore, focuses on user acquisition financing for fast-growth consumer apps. Together, the firms are enabling Midnite to accelerate its growth strategy.

  • The funding gives Midnite more than just marketing power. The company can build cash reserves for product development and hiring, while continuing to drive top-line revenue. This flexibility supports both short-term scaling and long-term innovation.

  • CEO Nicholas Wright said the deal allows Midnite to “triple down on both performance and brand marketing campaigns” while still preserving capital for expansion. He highlighted the flexibility of the HAF structure, calling it central to Midnite’s ability to pursue long-term goals without major trade-offs.

  • Discerning Capital’s Davis Catlin noted the deal sets a “new benchmark” in gaming finance. He argued that linking funding to marketing performance allows aggressive but sustainable scale, without equity dilution or burdensome repayment terms.

  • Midnite launched its sportsbook in 2018 and has since expanded to horse racing and casino. Over the past year, its team has more than doubled from 60 to 150 employees. The operator continues to focus on building its platform entirely in-house for more customer-focused experiences.

  • To date, Midnite has raised over USD 35m (ca. EUR 30m) in equity financing from investors including Raine Group, Venrex, Play Ventures and Makers Fund. The new USD 100m credit facility adds a fresh layer of financial backing to its expansion push in the UK iGaming sector.

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