Dream Payments secures new financing led by Fairfax

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By Ted Liu

Dream Payments Corp., a Toronto based financial technology (fintech) company that provides a cloud-based mobile payment platform for merchants and financial institutions, has raised $5 million from two undisclosed Ontario investors (updated – Fairfax led the financing), as part of a $10 million Series A financing. Real Ventures participated in the financing as well.

Dream Payments recently completed a US $1.5 million round of financing with Connecticut Innovations (CI) in two tranches in December 2016 and in February 2017. The CI financing in the form of convertible debenture is likely be converted into Series A.

The CI investment will help to further fuel the growth of Dream’s market share and accelerate the company’s entry into the United States.

Founded in July 2014, Dream Payments raised $6.0 million in funding from Blue Sky Capital, Real Ventures, and Rouge River Capital in March 2015.

updated – March 8, 2017

photo credit: Dream Payments