Tuesday, April 7, 2009

Revolution Money is a payments company committed to delivering extraordinary value to both merchants and consumers

What Company Is Offering:
Revolution Money is a payments company committed to delivering extraordinary value to both merchants and consumers. The RevolutionCard network eliminates costly interchange, providing merchants with enormous cost savings, while consumers gain unparalleled payment flexibility, rewards and protection from identity theft and fraud.

How Much They Got From VCs:

Revolution Money, the payments company backed by Steve Case’s Revolution LLC, today announced it has received $42 million in Series C funding from a Goldman Sachs affiliate (a new investor), as well as AOL co-founder Case, Revolution Money Chairman Ted Leonsis, former Charles Schwab CEO David Pottruck, former JP Morgan Vice Chairman David Golden, Citigroup Inc. and Morgan Stanley.

“In one of the toughest funding environments in history, this investment is a big endorsement of Revolution Money’s business model,” said Jason Hogg, founder and CEO of Revolution Money. “As merchants and consumers search for savings at every turn, Revolution Money is seen as a welcome alternative to the traditional high-cost credit card companies and PayPal.”

Revolution Money will use this funding to continue developing the core technology behind its popular and innovative products.

More at:www.RevolutionMoney.com

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