Thursday, April 1, 2010

Yapta Gets $300K In Convertible Round

Seattle-based travel site Yapta has raised $300,000 as part of an ongoing $500,000, convertible debt round, according to a regulatory filing from the firm today. According to the filing, the round is convertible into shares of the firm's Series B preferred stock. Source of the new funding was not disclosed. Yapta has previously taken funding from Bay Partners, First Round Capital, Swiftsure Capital, and Voyager Capital. Convertible debt is typically used by existing investors in a firm to bridge the company to its next round of funding.