Dream Sports, the parent company of fantasy gaming giant Dream11, is testing a new personal finance app called Dream Money, offering investments in digital gold, fixed deposits, and expense tracking, Moneycontrol has learnt.
The move comes as the company looks to diversify beyond online gaming, after India’s new online gaming law forced Dream11 to suspend paid contests and switch entirely to free-to-play games. The law, which recently received Presidential assent, bans any real-money online games where players deposit funds with the expectation of winnings.
Investment Options via Dream Money
Dream Money allows users to:
- Buy digital gold or set up SIPs starting at just ₹10, in partnership with gold trading platform Augmont.
- Invest in fixed deposits from ₹1,000 without requiring a bank account, with anytime withdrawal options. Partner banks include Suryoday Small Finance Bank, Shivalik Small Finance Bank, Slice Small Finance Bank, and NBFC Shriram Finance, facilitated through fintech startup Upswing.
Expense Tracking & Advisory Features
The app has tied up with SEBI-registered AI investment advisor Sigfyn, enabling users to:
- Link bank accounts, mutual funds, stocks, and ETFs.
- Track income, spending, and investments in one dashboard.
- Receive daily/monthly insights, smart financial recommendations, and cash flow analysis.
Past Fintech Experiments
This isn’t Dream Sports’ first step into fintech. In 2023, it launched DreamX, a UPI payments app with Pine Labs, but the service was shut down following an RBI directive against co-branded UPI arrangements.
Dream Sports’ Broader Business
Beyond Dream11, the company operates:
- FanCode (sports content & commerce),
- DreamSetGo (sports travel experiences),
- Dream Game Studios (mobile gaming), and
- Dream Sports Foundation (philanthropy).
Founded in 2008 by Harsh Jain and Bhavit Sheth, Dream Sports was last valued at $8 billion after a $840 million funding round in 2021 led by global investors including Falcon Edge, DST Global, Tiger Global, TPG, and Redbird Capital.
In FY23, the firm’s revenue jumped 66% to ₹6,384.49 crore, compared to ₹3,841 crore in FY22, with Dream11 contributing the bulk of income.
Dream Money will compete with established fintech and expense tracking apps such as Fi.Money, Jupiter, Moneyview, and Jar.
