Billfold has completed a seed extension funding round led by NFL
legend Fran Tarkenton,
BambuVentures, and Inertia Ventures, with participation from
existing investors. This funding will enable Billfold, a leading
Point of Sale, Payments, and Adtech platform for live events, music
venues, and sports, to continue its rapid growth and expand its
innovative offerings, including the Billfold Engage marketing
platform and a new loyalty program through a partnership with
BambuMeta.
NEW
YORK, July 24, 2024 /PRNewswire-PRWeb/ --
Billfold is pleased to announce the completion of a round of
funding, with investment led by NFL legend and serial entrepreneur
Fran Tarkenton, BambuVentures,
Inertia Ventures, and with participation from existing
investors.
"Tarkenton, as an investor and strategic
partner, has long worked with Billfold, a pioneering Point of Sale
company that is truly transforming payments, advertising, and data
analytics, while elevating customer experiences in live
entertainment and sports." - Will
Adams, President at Tarkenton
Billfold is the leading Point of Sale, Payments, and Adtech
platform servicing the Live Events, Music Venue, and Sports
industries with its frictionless payments platform and unique
brand-marketing deployment platform, Billfold Engage.
Billfold provides POS and payments infrastructure to many of the
world's leading music venues, including the Brooklyn Mirage: Avant
Gardner, Echostage DC, Pier 17, and Downtown Las Vegas Events
Center.
Through its Consumer Data and Adtech Platform, Engage, Billfold
works with the largest brands in the world to deploy relevant,
real-time marketing to event attendees before, during, and after an
event.
Furthermore, by leveraging RFID payments and a 70+% attendee
email entry rate, Engage collects consumers' "golden data" for
brands active onsite, including consumer spending behavior down to
the transaction level and consumer contact information.
Says Martin Naughton, VP of
Product at Billfold, "With Engage, we are enabling our brand
partners to communicate with consumers at the most effective place:
when they are about to make a purchase at the POS. This drives
astounding increases in target product purchases in our A/B
testing"
Billfold's brand partners include Heineken, Liquid Death, and
Uber.
Stas Chijik, founder and CEO of Billfold, believes Billfold is
in a very strong position to continue growing apace. "The fact is,
Live Events and Sports is one of the fastest growing sectors of the
economy. A recent Goldman Sachs research paper estimated global
live music net revenue growth at 25% YoY in 2023 and updated their
forecast CAGR materially going forward.
We are extremely well positioned to benefit from our unique
product and positioning in the space. Our partnership with
BambuMeta via Bambu Ventures will enable us to rapidly deploy an
extremely powerful loyalty program for our clients and brand
partners. We believe this will further expand our moat versus
competition and drive material monetization opportunities for us
going forward"
Timothy Power, Billfold's CFO,
anticipates that the capital raised will enable Billfold to
continue growing rapidly. "We've grown over 100% YoY through June
in terms of GMV. This raise will enable us to continue growing our
core business at a similar rate while opening up capacity for new,
rapidly monetizable initiatives in some very exciting areas of the
business, and sets the stage for a full series A in the late
summer."
The investment round was completed this month, with all three
major investors expressing their excitement and commitment to the
long term vision and success of Billfold.
"Tarkenton, as an investor and strategic partner, has long
worked with Billfold, a pioneering Point of Sale company that is
truly transforming payments, advertising, and data analytics, while
elevating customer experiences in live entertainment and sports,"
states Will Adams, President at
Tarkenton. "With the integration of BambuMeta into Billfold, we're
further elevating experiences for our clients and their customers
through customer-centric loyalty solutions to drive success for all
involved."
Further solidifying their commitment to Billfold, BambuVentures'
Richard Hearn joins the Billfold
board alongside Will Adams,
President of Tarkenton. He explained his decision to come on board:
"BambuVentures investment reciprocates the strong vision and drive
by the Executive Team towards extending the impact of Billfold to
new markets and their success to date. Their unsurpassable POS
product solves a problem that stands alone in an untapped market
and shows incredible fit. Their AdTech additionally extends them to
partner with renowned brands and improve consumer experience across
their customers and turn Billfold and their partners together into
a household name."
Mike Loretz, Managing Partner at
Inertia Ventures further added that "Inertia Ventures' investment
in Billfold was driven by their unparalleled ability to transform
the live events and sports industries. Their innovative POS,
Payments, and Adtech platform offers a revolutionary approach to
consumer engagement, paving the way for unparalleled growth and
success."
Media Contact
Stas Chijik, Billfold, 415-419-4108, IR@billfold.tech,
https://www.billfold.tech/
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SOURCE Billfold