Connecticut Innovations (CI) announced on Thursday it invested $1.5 million in Dream Payments, a fintech company that provides a cloud-based mobile payment platform for merchants and financial institutions. CI stated that the $1.5 million investment will help to further fuel the growth of Dream’s market share and accelerate the company’s entry into the United States.
Speaking about the investment, Matt McCooe, CEO of CI, stated:
“CI is excited to close this deal with the top investment award winner of VentureClash. This company has a strong leadership team and we look forward to supporting the company’s expansion in the U.S. market.”
Dream Payments stated it currently has a solid foothold in Canada in the payments-processing space and looks to expand its operations into the U.S. The company is also planning to create up to 10 employee positions in Connecticut with this investment and will look to add a business development professional to help assist with its U.S. growth plans. Brent Ho-Young, CEO of Dream Payments, added:
“The U.S. market is experiencing a major shift toward mobile commerce creating dramatic demand for Dream’s platform. We are thrilled to enter the U.S. market with the support of the State of Connecticut, which provides us strategic advantages in terms of proximity to our customers and partners such as CI, and access to a rich pool of specialized talent.”
