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Toronto's Dream Payments wins global fintech challenge

24 October 2016  |  2731 views  |  0 Source: Dream Payments

Dream Payments, a leading financial technology (fintech) company that provides a cloud-based mobile payment platform for merchants and financial institutions, today announced it won first place at VentureClash, a global investment challenge for fintech and digital health companies held on Thursday, October 20, at Yale University in New Haven, Connecticut.

This distinction among top early-stage fintech companies from around the world has venture capital (VC) firms taking notice.

One of almost 200 contenders to enter the challenge, Dream Payments presented to a broad judging panel of venture capitalists and innovation experts from leading firms -- including Canaan Partners, Kepha Partners, OAK HC/FT and Point72 Ventures. These experts picked Dream Payments over 10 other finalists from the U.S., Belgium, England, France, Hong Kong, Ireland and Israel.

The US$1.5 million award for finishing first will help to further fuel the growth of Dream's market share and accelerate the company's entry into the United States, one of the largest financial services markets in the world.

"VentureClash 2016 began with a pool of close to 200 very promising companies and ended up selecting the 11 best as finalists," said Matt McCooe, CEO of Connecticut Innovations. "Dream Payments had a clear business model, an excellent growth plan and a fantastic team, which garnered them first place in our global challenge. We look forward to helping Dream Payments establish their presence in the U.S. and facilitating a soft landing for them in Connecticut."

VentureClash helps transform top early-stage companies into the next generation of world-class leaders. It was developed by Connecticut Innovations (CI), which provides venture financing and ongoing support for innovative companies in Connecticut. In addition to an investment, awardees benefit from introductions to a network of potential customers, investors, mentors and talent.

"It is an honour to be the winner of VentureClash as the caliber of finalists was incredibly strong. This is a significant milestone for Dream Payments as it further validates Dream's market approach and position as an emerging global fintech leader," said Brent Ho-Young, CEO of Dream Payments. "CI is a tremendous platform to help accelerate our move to becoming a world-class leader in our industry. Their work is also really bolstering Connecticut as a global innovation hub."

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