There’s no need to pinch Dream Payments — $6 million is a very real number for the mobile payments platform.
Dream announced late last week that it has received $6 million in funding from a group of institutional investors that includes Blue Sky Capital, Real Ventures, and Rouge River Capital.
Founded in July 2014, the Toronto-based Dream Payments enables merchants large and small to accept all forms of payments — including magstripe, EMV credit and debit cards, and Apple Pay — at mobile point of sale (mPOS) terminals. Dream’s press release notes that its mPOS terminal works with both iOS and Android smartphones and tablets, but is also capable of integration with traditional point of sale systems. Merchants who utilize Dream are given access to a dashboard that tracks sales and inventory, as well as providing analytics and customer insights.
The company also points out that it is opening up its Software Development Kit (SDK) to third-party developers for the opportunity to expand 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 [roll] 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 Dream Payments’ Director. Bannister added that the combination of an experienced team, a comprehensive payments platform and secure mobile technology –paired with Dream’s go-to-market approach — poises the company for success.
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