Dream11-parent Dream Sports pilots ‘Dream Money’ app in financial services push
Dream Sports, the parent of Dream11, is testing a new app called Dream Money to enter India’s financial services market with gold purchases and fixed deposits.
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Dream11’s parent company, Dream Sports, is preparing a move into financial services with a new app called Dream Money, according to reports. The company was forced to shutter its money-based games last week after the government banned all forms of online money gaming.
A listing on Google’s Play Store suggests that the app will offer daily gold purchases starting at ₹10 and fixed deposits beginning at ₹1,000. The formal name of the entity behind the service is “Dream Suite Platform Private Limited,” and the app is published by Dreamsuite, a Dream Sports subsidiary, stated reports. They added that DreamSuite’s website indicates that a broader financial arm, DreamSuite Finance, will launch soon to provide what it describes as “seamless financial services.”
The company, valued at more than $8 billion in its last funding round, has been expanding its portfolio even as regulators tighten scrutiny of online gaming. Beyond Dream11, its ventures include Dream Set Go, a sports travel and experiences platform; FanCode, which handles event ticketing and merchandise; Dream Game Studios, a game development unit; and the Dream Sports Foundation, its philanthropic arm.
