Revolution Money nabs $42M from marquee firms
Payment-transfer platform Revolution Money just brought in $42 million from several major investment firms, including Goldman Sachs, Citigroup and Morgan Stanley – not to mention a few high-profile individuals like AOL co-founder Steve Case, former Charles Schwab chief executive David Pottruck and former JP Morgan vice chairman David Golden. With this backing, Revolution is poised to chip away at the big boy credit card companies like Visa and Mastercard, as well as competing online services… Continue Reading
Revolution Money raises $50M to take on PayPal, upend credit card industry
Revolution Money, a new company backed by former AOL chief executive Steve Case, has launched a free online money transfer service to compete with PayPal. It has landed $50 million in a second round of funding.
The service is designed to be used on fast-growing instant messaging services such as AOL’s AIM and other social networking sites, and could appeal to younger users who balk at PayPal’s fees.
The Largo, Florida company is also offering a credit… Continue Reading