Industry by Felicity Wade January 11, 2020 1.36K

Midnite raises $2.5 million in seed round

Not long off the starting line, London-based esports betting platform, Midnite, have completed a seed funding round led by Makers Fund, receiving $2.5 million (£1.9 million) in the process.

From their initial onset back in the early months of 2019, the company have now raised $4.5 million (£3.4 million) and attracted an impressive list of investors throughout the process, including big names such as Venrex Investment Management, GVC and Betfair; landing them securely on the sportbook map.

With a core focus on the CounterStrike: Global Offensive title, as well as other top tier esports titles League of Legends and Dota 2, Midnite are up there with the best of the best sites to go to for a top-notch betting experience. Combined with their coveted UK gambling license and their platform developed bespoke for esports betting, the company are definitely making waves within the industry.

Founder and CEO of Midnite, Nick Wright, spoke confidently about the company’s current situation and the type of feedback they have been receiving as a whole since their launch in April last year:

“We have been in an Alpha for half a year now and are already seeing significant turnover. We are building everything in-house and are keen to offer the best experience for esports fans in the market. Customers have been loving the platform and we in turn are fine-tuning the product specifically for them. Every day, our waitlist for access keeps growing and we are extremely pleased with the way the product been received so far.”

Also referring to Midnite as an “entertainment platform” during a recent interview with TechCrunch, Wright showed clear signs of passion and belief in the journey when speaking further about his views for the company and where it fits into the current market:

“The esports market is seeing rapid year-on-year growth and we believe that betting represents the single biggest opportunity in this space […] Wagering on esports is expected to exceed $12bn by the end of 2020, making betting already one of the fastest growing verticals within esports.”

Wright closed his interview after ensuring that the safety and enjoyment for fans is of “top priority” and reinforced that every effort was put in place to succeed with the simple statement, “This is why Midnite exists.” A snappy but promising punchline that, hopefully, warrants nothing but further success for the company and more exciting announcements to come from them in the future.

 

  • Esports Bonuses

    122% Up To €/$122/£50

    New customers only. T&Cs apply, 18+, begambleaware.org

    €/£5 No Deposit Bonus

    New customers only. T&Cs apply, 18+, begambleaware.org

    100% Up To $50

    New customers only. T&Cs apply, 18+, begambleaware.org

  • Latest Posts

    May 26, 2020 96

    StarCraft II and WarCraft III Pro Tour to return redesigned in June 2020

    May 25, 2020 240

    Call of Duty League Seattle – Post Weekend Review

    May 24, 2020 333

    VALORANT to be released on June 2nd

  • Latest Tips

    May 26, 2020 3.63K

    NICKMERCS’ MFAM Gauntlet – May Preview

    May 25, 2020 452

    Dota 2 Daily Betting Tips – Tuesday

    May 24, 2020 645

    Dota 2 Daily Betting Tips – Monday

  • Hottest Posts

    July 30, 2018 22.11K

    Where To Watch Esports Online

    December 11, 2019 12.01K

    Betting on the Tyler1 Championship Series 2019

    April 15, 2019 11.78K

    OpTic hypoc announces retirement from professional PUBG

    September 18, 2018 10.32K

    Device speaks up about the current state of CSGO

Join Our Discord for an Exclusive $/€100 Bonus at GG.BET

Offer Available Exclusively At SickOdds.com

Join Discord Server Only available to players who are over the age of 18. Bonus T's & C's apply - see Discord for details.