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Dream Payments Raises $6 Million in Funding for mPOS Technology

Dream Payments Raises $6 Million in Funding for mPOS Technology

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Toronto-based Dream Payments pulled in its first round of funding late last month. The $6 million comes from Canada’s early stage fintech venture capital and private equity firms, as well as institutional investors Blue Sky Capital, Real Ventures, and Rouge River Capital.

With Dream Payments, merchants use the Dream mobile Point of Sale (mPOS) terminal that works with iOS and Android smartphones and tablets. It can also integrate with a retailer’s traditional POS terminal. The startup aims to help merchants adapt to new payment acceptance methods, such as EMV and Apple Pay, and accommodates magstripe debit and credit card payments.

In addition to the payments capability, the company offers merchants a dashboard with sales and inventory metrics, customer insights, and business analytics. The solution is available for both merchants and merchant acquirers.

Dream Payments CEO, Brent Ho-Young stated that the startup will use the funding to launch the business and roll out its solutions to merchants across North America.

The startup also announced it will open its SDK to third-party developers.

Dream Payments will be demoing live on the FinovateSpring stage in San Jose on 12/13 May 2015. The early bird ticket deadline is this Friday, so be sure to pick up your ticket before then.