Fantasy sports giant Dream11 is gearing up to expand beyond gaming into financial services, with plans to launch a new vertical called Dream Money. The move marks a major shift for the company as it looks to establish a presence in stock broking and wealth management.
According to a report by Mint, Dream11 has applied for regulatory approval to enter the stock broking segment and intends to position Dream Money as a discount brokerage platform, competing with leading players such as Zerodha, Angel One, and Groww.
Pivot After Online Gaming Restrictions
The company’s diversification comes in the wake of the government’s Online Gaming Bill, which introduced stringent regulations on real-money and betting-style games — a category that once formed the core of Dream11’s business.
Backed by Tencent and Tiger Global, Dream11 was forced to suspend its real-money gaming operations earlier this year, leading to a 95% drop in revenue. In response, the company transitioned to a free-to-play, ad-supported model and began exploring new revenue opportunities.
“The only way to deal with 95% of your revenue being gone is to build new products,” said Harsh Jain, Dream11’s co-founder and CEO, highlighting the company’s strategy to diversify beyond gaming.
Tapping into Retail Investment Growth
With over 260 million users, Dream11 plans to leverage its massive customer base to tap into India’s rapidly expanding retail investment ecosystem. Industry experts cited in the report described stock broking as a “natural adjacency” for the company, given its digital expertise and large user reach.
India’s retail participation in the stock market has surged in recent years, driven by easy onboarding and zero-commission trading apps. Yet, penetration remains relatively low — only one in 12 Indians is registered as an investor on the National Stock Exchange (NSE) — leaving significant room for growth.
Disclaimer: This article is for informational purposes only and should not be construed as financial or investment advice.
