Payment gateway for esports and gaming startup DreamTeam raises $5 million to expand its infrastructure platform
DreamTeam, the world’s first infrastructure platform and payment gateway for esports and gaming, has raised $5 million in seed funding to continue to expand its infrastructure platform. The latest round was led by Mangrove Capital Partners. This is the second investment by Mangrove in DreamTeam after the first contribution in April 2018.
Founded in 2017 by Alexander Kokhanovskyy, Neil Bhasin, and Volodymyr Panchenko, DreamTeam is a teambuilding and skill-growing platform that solves problems for hundreds of millions of gamers who want to find teammates, improve skills, manage teams, and earn money. And with the unlocking of blockchain and smart contract technologies, DreamTeam is building a one-of-a-kind payment gateway for players, teams, tournaments, and sponsors.
DreamTeam’s current platform offerings for players and teams include: Counter-Strike:Global Offensive, League of Legends, and soon to be supported Fortnite. In less than 6 months, DreamTeam has already become the most liquid recruitment marketplace on the planet, bigger than all other esports recruitment platforms combined.
Commenting on the investment, Alexander Kokhanovskyy, DreamTeam CEO and Co-Founder said: “I am glad to announce that DreamTeam has successfully closed a $5M Seed Round in pursuit to bring mass adoption to esports and making it the #1 sports of the future. Having secured another investment from Mangrove shows that our road to success is also recognized by the venture capital powerhouse. Mangrove is a leader in the investments field, so I am delighted that they continue to support our journey to create the most comprehensive platform for all esports enthusiasts. This investment will help us continue to expand our infrastructure platform even faster and offer millions of gamers a clear-cut way to esports stardom. We have already rolled out many updates and improvements to our platform, and our users will soon get advanced team-management tools as well as unique coaching and analytics modules. DreamTeam will continue to lead the way in the evolution of esports.”
David Waroquier, Partner at Mangrove Capital, who is also a Member of the DreamTeam Advisory Board, said:”It was a logical decision by Mangrove Capital Partner to continue to support DreamTeam as the extra financing will ensure the continuation of the explosive growth of the project. I believe that DreamTeam will create the biggest one-stop-shop platform for #1 sports of the future. It has all the potential to create the best infrastructure platform for gamers and esports enthusiasts. And the results they’ve shown so far complete correspond to their development path that we’ve envisioned. In just six months, DreamTeam built the most liquid recruitment marketplace on the planet, bigger than all other esports recruitment platforms combined, quickly approaching one million registered users. Having advised DreamTeam for quite some time now, I am impressed by the quality of the Team and their execution capabilities. I am excited to continue working with Alexander and the DreamTeam Crew to build the most scalable esports solution available globally.”
Mangrove Capital Partners has invested in over 100 companies and today manages near $1Bn in venture funding. With a startup focused strategy, the Firm invests heavily in early-stage businesses all over the world. Among the most successful investments are Wix (NASDAQ :WIX ) currently valued at $6 billion, and Skype, which was bought in 2005 by eBay for $3.1 billion, as well as RedPoints, WalkMe, Freedompop, Letgo, StoreKing and K Health.