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
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