Following the second funding round of Sightline Payments, the firm has become ‘Nevada’s first fintech unicorn’.

The completion of the $244m funding round elevated the group to a valuation of over $1bn, emphasising the group as ‘one of roughly 700 startups worldwide’ to reach such a figure as a private company.

Sightline CEO, Joe Pappano, commented: “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.”

In addition to Cannae Holdings, this funding round included existing investors Genting Group, Point Break Capital Management, and founding investor Walter Kortschak.

“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,” added William Foley II, Chair of Cannae Holdings. “I look forward to helping Sightline continue their tremendous growth.”

Sightline, which was founded over a decade ago by Omer Sattar, Tom Sears, and Kirk Sanford, aims to give consumers a way to safely and securely fund their online gaming experience, which began with New Jersey‘s launch of igaming in 2013.

“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,” commented Sattar.

“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.”