Midnite raises $35M Series C, taps FanDuel veteran for Canada push
What's the deal? UK betting operator Midnite has raised a $35 million Series C led by Raine Partners IV, and appointed former FanDuel Canada executive Dale Tang as Canada general manager. The round, announced in August, brings Midnite's total equity funding above $75 million.
Who invested? Alongside Raine Partners IV, the round drew Play VenturesDealroom has a profile for this one. Try Dealroom →, Discerning CapitalDealroom has a profile for this one. Try Dealroom →, Makers FundDealroom has a profile for this one. Try Dealroom →, and Big BetsDealroom has a profile for this one. Try Dealroom →. It builds on a $10 million Series B in 2025 and a $16 million Series A in 2022; last October the company also secured a separate $100 million credit facility.
What's the endgame? Founded in 2015, Midnite has grown as a digitally focused challenger brand in the UK. The capital will fund its first move beyond home turf, starting with Canada.
The hire: Tang joins after five years at FanDuel, most recently as senior director of Canada commercial, analytics, and retention. He previously spent more than three years at the Ontario Lottery and Gaming CorporationDealroom has a profile for this one. Try Dealroom →, including as director of strategy development. He will be based in Toronto.
In his words: "the chance to build something new in Canada doesn't come around often — so I'm excited to share that I've joined Midnite to lead its launch into the Canadian market," Tang said, according to Casino.org NewsDealroom has a profile for this one. Try Dealroom →. He called leaving FanDuel "anything but easy."
The expansion: A recent recruitment posting outlined a casino go-to-market strategy across Canada, including Ontario and future regulated provinces. The move marks Midnite's first international expansion beyond the UK.
What could go wrong? Midnite is not yet listed as a licensed operator in Ontario or Alberta. Tang's provincial background narrows that gap, but the approval process remains untested for the company, and it must translate UK challenger positioning into a distinct regulatory and competitive market.
The signal: At $35 million, the round sits above the median for its category, giving Midnite runway to chase tier-1 status abroad. Whether capital and credentials convert into licenses and market share is the open question.
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