Dream Payments, a financial technology 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 at Yale University in New Haven.
One of almost 200 contenders to enter the challenge, Toronto’s Dream Payments presented to a judging panel of venture capitalists and innovation experts, who picked Dream Payments over 10 other finalists from the U.S., Belgium, England, France, Hong Kong, Ireland and Israel.
The $1.5 million award for finishing first will help fuel the growth of Dream’s marketshare and accelerate the company’s entry into the US.
“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, which helps transform early-stage companies into the next-generation of world-class leaders, was developed by Connecticut Innovations, which provides venture financing and ongoing support for innovative companies in Connecticut.
“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.”