Sightline Payments becomes Nevada's first FinTech unicorn after over $1 billion valuation

Sightline Payments announced Tuesday the completion of a $244 million round valuing the company at over $1 billion, which makes it Nevada’s first fintech unicorn: one of 700 startups worldwide to earn a $1 billion+ valuation as a private business. 

Besides Cannae Holdings, this funding round included existing investors Genting Group, Point Break Capital Management, and founding investor Walter Kortschak. Latham & Watkins LLP served as legal counsel to Sightline with a team led by M&A partner David Beller. 

Sightline becomes Nevada's first #fintech unicorn with a funding round that pushes the company's value over $1 billion.

Read more about this monumental milestone in our company's history here: https://t.co/mnWolbOK2B pic.twitter.com/9KAyJLvDoM

— Sightline Payments (@Sightline777) August 17, 2021

This is the company’s second round in 2021. Sightline closed an earlier $100 million funding round in April, which included an investment by Searchlight Capital Partners.

Sightline was founded over a decade ago, by Omer Sattar, Tom Sears and Kirk Sanford to provide consumers a way to fund their online gaming experience, starting with New Jersey’s launch of online gaming in 2013. Sightline recently acquired JOINGO, the casino gaming industry mobile engagement and loyalty platform. 

In an official press release, Sightline Co-founder Omer Sattar spoke about this new status for the company and said: "Sightline has continuously risen to meet the changing needs of the casino gaming industry. 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”.

"Financial Services has historically not embraced the legal, regulated gaming industry, but thanks to the innovations Sightline has fostered in the market, gaming is clearly poised for an omni-channel cashless revolution”, he stated. 

Cannae Holdings Chairman William P. Foley II added: "After seeing Sightline's groundbreaking technology firsthand at the recent launch of Resorts World Las Vegas, I am more bullish than ever about Sightline's ability to be at the forefront of the digital transformation afoot in the North American gaming, sports, and entertainment ecosystem”.

Sightline CEO Joe Pappano stated: "The Sightline team has reached new heights to provide innovative solutions to drive our industry forward. Our investors' continued faith in our business will enable us to execute our vision of transforming payments in the casino gaming and hospitality industry."