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Revolution Money Receives $50 Million Financing

Wednesday, September 26, 2007 5:00:00 AM PDT | VentureDeal Staff

LARGO, FL -- Online payments company Revolution Money announced that it has closed a round of funding, raising $50 million in venture capital equity.  The company has also closed additional financing in the form of debt.

Revolution also announced the launch of lower cost credit card and stored value card payment products for consumers.  The company intends to roll out merchant services in the near future as well.

Investors in the round included Citi, Morgan Stanley, parent company Revolution, LLC and Ted Leonsis, who was appointed chairman of the board.  The company will use the proceeds for sales and marketing expansion.

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