Bethesda, Md. - Kajeet, the operator of a pay-as-you-go cell phone service aimed at kids ages 8-14, said that it has received $10 million in debt financing from Chicago-based BlueCrest Capital Finance.

Kajeet, which had previously raised nearly $64 million in venture capital funding, said that it will use the new capital to further extend its service offering to kids and parents.

Founded in 2003, Bethesda, Md.-based kajeet has developed a cell phone service designed specifically for tweens, teens and their parents.

Its service and phones are available at retailers such as Best Buy, Target, Toys "R" Us, Limited Too and Longs Drugs Stores, as well as through the company's website.

In September, the company raised $36.8 million in its second round of funding, led by the Draper Fisher Jurvetson Growth Fund.

Related Links:
http://www.kajeet.com