Revolution Money Secures $42 Million in Series C Funding from Goldman Sachs Affiliate and Existing Investors

RevolutionCard Now Accepted at Barnes & Noble, Bloomingdales, CVS, Nordstrom, Whole Foods and Thousands of Other Retail Locations
Revolutionary Payments Platform Continues to Grow in Challenging Economy

ST. PETERSBURG, Fla. 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. Today’s funding follows a Series B investment round of $50 million led by Citigroup Inc., Morgan Stanley and Deutsche Bank in September 2007.

The Internet-based, proprietary RevolutionCard Network today supports the following products:

• RevolutionCard – a general-use credit card that charges no interchange fees and only a half-percent processing fee per transaction to accept – up to an 80 percent savings over other credit card offerings. Merchants turn some of these savings into customer loyalty and cash-back programs. The PIN-based card also offers the best identity theft available, as the card itself bears no personal information about the cardholder. Today, RevolutionCard is accepted at more than 650,000 merchant locations and 85 percent of all ATMs throughout the U.S. Consumers can apply for a RevolutionCard at www.RevolutionCard.com.

• Revolution MoneyExchange – With more than 400,000 current users, Revolution MoneyExchange is a free online P2P payments service that enables users to exchange money for free. Consumers can start transferring money to friends, family, or merchants online by registering at www.RevolutionMoneyExchange.com. Users can also access their online funds at all merchants and ATMs on the RevolutionCard Network.

Many of the country’s favorite retailers and their customers are benefiting from the RevolutionCard today. For example, cardholders can save 3 cents per gallon at the nearly 1,000 Murphy USA® and Murphy Express gas stations typically located in the Wal-Mart Supercenter parking areas across 20 states. RevolutionCard today is accepted by Barnes & Noble, Bed Bath & Beyond, Bloomingdale’s, Buy.com, CVS, KOHL’s, Macy’s, Marshalls, Walgreen’s, Nordstrom, Office Depot, Office Max, T.J. Maxx, Whole Foods and thousands of other retail locations.

About Revolution Money Inc.

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. Founded in 2007, Revolution Money is a member of the Revolution LLC family of companies. For more information go to www.RevolutionMoney.com.

Source: Revolution Money Inc.