Sightline Payments, a mobile payments and application provider for the US betting industry, has raised $244 million in a private equity round.
The round has valued Sightline at over $1 billion, making it Nevada’s first fintech unicorn.
Cannae Holdings led the round, with participation from existing investors Genting Group, Point Break Capital Management, and founding investor Walter Kortschak.
Sightline says that gambling and gaming systems are one of the last cash-centric businesses left in the US.
“Financial services has historically not embraced the legal, regulated gaming industry,” says co-founder Omer Sattar.
“As we strive to help lead the digital transformation of the patron experience in our vertical, we are humbled to become Nevada’s first fintech unicorn.”
Sightline claims its Play+ solution gives consumers a “safe, secure, and responsible” way to fund their online and in-person gambling, and enables casinos to offer cashless wagering options.
The firm has more than 1.5 million accounts and 70+ partners across the sports betting, lottery, racing, and online and brick-and-mortar casino markets.
This $244 million round is Sightline’s second round in 2021. Sightline closed an earlier $100 million funding round in April, which also included an investment by Searchlight Capital Partners.