Dream11 Parent Dream Sports to Launch ‘Dream Money’ App for SIPs, FDs and Gold Investments After Online Gaming Ban
Dream11 parent plans to launch Dream Money app offering SIPs, FDs, gold investments amid online gaming ban: Report
Dream Sports is set to launch Dream Money, a personal finance app allowing investments in gold and fixed deposits. This move follows the suspension of paid contests on Dream11 due to new online gaming regulations, aiming to diversify the company’s offerings.
Popular online gaming platform Dream11’s parent company, Dream Sports, is reportedly planning to launch a personal money management app called Dream Money.
Key Features:
- Gold Investments: Users can invest in digital gold, with a partnership established with Augmont, a digital gold trading platform .
- SIPs Starting at ₹10: Enables daily or monthly Systematic Investment Plans with a minimum as low as ₹10 .
- Fixed Deposits from ₹1,000: Users can invest in FDs without needing a bank account, and withdraw funds anytime. The app partners with small finance banks like Suryoday, Shivalik, Slice, and NBFC Shriram Finance, facilitated via fintech startup Upswing’s open finance-as-a-service platform .
- Holistic Money Management: In collaboration with SEBI-registered AI advisor Sigfyn, the app helps users track spending, income, and investments—including mutual funds, stocks, and ETFs—by aggregating linked bank accounts and assets .
- Insights and Smart Recommendations: Dream Money is expected to offer daily and monthly insights, personalized financial recommendations, and asset analysis based on cash flow patterns .
3. Strategic Context
- This launch appears to be a strategic response to regulatory disruption, diversifying away from a crimped real-money gaming model into scalable fintech services .
- Dream Sports is leveraging previous fintech experience—they had earlier launched a UPI app called DreamX in March 2023 (in partnership with Pine Labs), though it was later shut down following an RBI directive .
