Dream Money, launched in August 2025, offered mutual funds, digital gold, fixed deposits and loans as Dream Sports sought to diversify beyond its fantasy sports business after the nationwide ban.
In a notice on its website, the company said: “Dream Money will discontinue its operations with effect from July 30. Your funds and investments are completely safe and will continue to be held in your name with the respective partners.”
The platform has stopped accepting new customer registrations, lump-sum investments and loan applications. It will also cancel all active systematic investment plans (SIPs) from July 7.
Customer investments to remain unaffected
Dream Sports said customers’ underlying investments would remain unaffected by the platform’s closure.
Users can redeem mutual fund investments through Dream Money until July 30, after which transactions will have to be made directly with the respective asset management companies (AMCs).
For digital gold, customers can withdraw or liquidate their holdings through the platform until July 15. The holdings will then be transferred to Augmont by July 25, which will manage the accounts thereafter. During the migration period between July 15 and July 25, customers will not be able to withdraw or liquidate their gold holdings.
The Dream Money application will remain accessible until July 30, allowing users to view account details, statements and investment holdings.
Diversification efforts scaled back
The fintech shutdown follows the closure of Dream Play on June 10. The AI-based application analysed users’ performances in sports such as padel and provided personalised feedback.
Dream11, the company’s flagship platform, has also been repositioned as a sports entertainment application featuring creator-led watch-along sessions for live matches.
In May, the Supreme Court rejected petitions challenging retrospective tax demands and upheld the constitutional validity of the 28% goods and services tax (GST) on the full face value of bets. The ruling came months after the Centre’s 2025 ban on all online real-money games involving monetary stakes, including fantasy sports, which disrupted the sector’s business models.
Founded in 2008 by Harsh Jain and Bhavit Sheth, Dream Sports also operates sports streaming platform FanCode, sports travel platform DreamSetGo, cricket game DreamCricket, open-source technology initiative Dream Horizon, and social development arm Dream Sports Foundation. The company was last valued at $8 billion after raising $840 million in 2021.
