Kajeet Secures Debt Financing
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Kajeet, a pay as you go wireless services which caters to children recently announced that they’ve secured $10 million dollars for debt financing. The company based in Maryland had previously risen $64 million from venture capitalists.
“Since securing our Series B round of funding within six months of our national retail debut, kajeet continues to attract enthusiastic investors even in a challenging ‘credit-crunched’ market,” said David Collier, Vice President of Finance and Business Operations for kajeet.
kajeet is the first pay-as-you-go cell phone service made from a kid’s point of view. Unique among pay-as-you-go services, kajeet has developed Web-based parental controls that offer countless ways for tweens, teens and their families to tailor the service to meet their specific needs.
With kajeet, kids get the full-featured phones they want plus a wide range of mobile content and services, while parents enjoy no long-term contracts or surprise bills and can easily manage budget and usage through the exclusive Web-based kajeet Configurator.
Kajeet phones can be found at Best Buy, Target, Toys “R” Us and Limited Too.
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