Dream Payments Raises $6.0M in Early Stage Financing
Toronto-based Mobile Fintech Company secures funding to launch a next generation mobile payment platform that accepts contact and contactless debit and credit cards
TORONTO – March 26, 2015 – Dream Payments, a next generation mobile payment platform, today announced that it has raised $6.0 million in funding from Canada’s leading early stage fintech venture capital and private equity firms. Institutional investors included Blue Sky Capital, Real Ventures, and Rouge River Capital.
The Dream Payments platform powers merchant commerce and enables merchants of all sizes to use mobile point of sale (mPOS) terminals to accept all forms of payments including magstripe, EMV credit and debit cards, and Apple Pay. The Dream mobile point of sale terminal works with existing iOS or Android smartphones, tablets or integrates with traditional point of sale systems. The solution also provides merchants a comprehensive dashboard with in-depth sales and inventory reporting as well as actionable analytics and customer insights.
Merchant acquirers can license the platform to provide their end merchants with mobile point of sale and mobile payment processing solutions. Dream Payments is also opening up its Software Development Kit (SDK) to third party developers to extend and deliver value-added services to the Dream Payments’ ecosystem.
“Merchants and merchant acquirers of all sizes need affordable, secure, and EMV mobile point of sale terminals and payment processing services,” said Brent Ho-Young, CEO of Dream Payments. “Dream is transforming commerce and the payment process for merchants through mobility. This funding is providing a foundation for us to launch the business and role out our solutions to merchants across North America.”
“Dream is bringing to market a new approach to the payment industry that is a perfect fit for transforming the mobile payment market,” said Janet Bannister, General Partner of Real Ventures and newly appointed Director for Dream. “The experienced team with the comprehensive payments platform and secure mobile technology combined with its go-to-market approach its poised for winning success.”
The company was founded in July 2014 and was the IVIE award winner for the Canadian Payments Benefiting Acquirers Innovation Award by ACT Canada in the fall of 2014. The company is led by senior industry executives including Brent Ho-Young as CEO, Alex Walker as CFO, Anant Tailor as COO and Long Van as CTO.
Dream Payments will be exhibiting at Transact 2015 in San Francisco March 31st to April 2nd. To see a live demonstration or for more information, please visit Booth #1725 or contact [email protected].
About Dream Payments
Dream Payments enables merchants to sell everywhere using mobile devices. Dream’s cloud based payment platform combined with its mobile point of sale device allows merchants to accept credit and debit cards, access rich analytics and reports, and provide digital receipts to customers. Dream’s solutions are secure, EMV compliant, and accept Contactless and CHIP payment cards. The Company is headquartered in Liberty Village, Toronto, Canada. For more information, visit www.dreampayments.com or follow us on Twitter @dreampayments.
About Blue Sky Capital Corporation
Blue Sky Capital Corporation is a private investment firm that backs high-potential teams, technologies and business models with a particular focus on mobile and security-related technologies targeting the financial services and payment sectors. Blue Sky is led by a small team of experienced entrepreneurs and investment professionals who bring significant value to our partnerships. Since we invest our own funds, we are able to maintain a long-term, growth orientation and to respond rapidly and decisively as new opportunities arise. For more information visit blueskycapital.ca.
About Real Ventures
Real Ventures is Canada’s largest and most active seed venture fund. We invest in ambitious entrepreneurs that are creating the Internet experiences of the future, or embracing the power of the Internet to disrupt existing industries or business models. We will invest pre-traction and have the team and networks to support entrepreneurs and propel their companies forward. For more information visit realventures.com.
About Rouge River Capital
Rouge River Capital is an entrepreneurial investment firm that seeks companies that are located in Canada and the US North East. Founded in 2008, our approach is to provide attractive liquidity options for business owners while tailoring a transaction that meets their individual needs. We are long-term investors, committed to building lasting value in our portfolio companies. In each transaction we bring flexibility, integrity, speed and experience. For more information visit rougerivercapital.com.
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