Dream Payments Closes $10 Million Series A Round
Dream Payments have been covered by Paymentweek in the past, but they’re not as frequently seen in our feed as some other major fintech companies.
Nevertheless, Dream Payments operates a payments cloud that powers commerce and payments across mobile devices and the Internet of Things, and it has announced the closing of a $10 million Series A financing round.
The round was helmed by FairVentures Inc, known to many as the innovation investing hand of Fairfax Financial Holdings Limited. Connecticut Innovations, Real Ventures and a prominent group of angel investors were also vital participants in the financing round.
The Dream Payments Cloud is utilized by businesses big and small all across Canada to access Dream-powered, cloud-based mobile POS and payment services, enabling them to sell wherever they like and accept all payments via mobile devices.
Dream’s mentality for fintech is obviously unique, due to its partnerships with leading financial institutions to enable them to use the Dream “Payments as a Service” Platform to deliver mobile solutions to their business customers.
“The business world is rapidly transitioning to mobile commerce, which is translating into growing demand for our payments cloud, applications and services,” says Brent Ho-Young, Chief Executive Officer of Dream Payments. “This funding, along with ongoing partnerships with established players like TD Merchant Solutions, Intuit Quickbooks and TruShield Insurance, propels Dream into the American market at a perfect time to serve the critical needs of businesses that are struggling to support emerging payment technologies like mobile wallets, CHIP cards and contactless payments. Dream’s explosive growth is proof that emerging fintechs and leading incumbent financial services providers can partner and collaborate to deliver innovative mobile payment solutions that meet the demands of businesses of all sizes.”
“The CI team has tremendous confidence in Dream Payments and its ability to transform mobile commerce across a number of industries in the U.S.,” said Matt McCooe, CEO of Connecticut Innovations. “Dream has a unique go-to-market strategy and product offering. We spoke with a number of businesses and financial institutions partnering with Dream, all of whom were committed to their cloud-based payments offerings. We are excited to support Dream as it expands its team here in Connecticut, grows its financial institution partnerships and increases its merchant base.”