Midnite has agreed a credit financing deal worth up to $100m with House Advantage Fund (HAF), providing fresh backing for its growth in the UK iGaming market. The revolving facility is supported by Discerning Capital, a specialist in regulated gambling investment, and Singapore-based PvX Capital, which focuses on user acquisition financing.
The structure gives Midnite access to marketing capital while enabling it to build reserves for wider investment in hiring and product development. The company says the model avoids equity dilution and offers greater flexibility than traditional funding routes.
The deal follows Midnite’s $10m Series B round in April 2025, which lifted total funding raised to more than $35m. Founded in 2018 by Nick Wright and Daniel Qu, the operator has expanded from sports betting into horse racing and casino, and doubled its workforce to 150 in the past year as it targets tier-one status.
Nicholas Wright, CEO of Midnite, commented:
“This partnership allows us to triple down on both performance and brand marketing campaigns, while preserving cash for innovation and expansion. The flexibility of the House Advantage structure means we can pursue our long-term strategy with greater conviction and fewer trade-offs.”
Davis Catlin, Managing Partner at Discerning Capital, added:
“For too long, the growth trajectory of online wagering operators has been constrained by the limitations of traditional venture capital or credit. By tying capital deployment to actual marketing performance, we unlock sustainable, aggressive scale without forcing operators into unnecessary equity dilution or onerous repayment structures. This credit facility for Midnite sets a new benchmark for how ambitious firms in our sector can finance growth.”
