Billfold was built in 2016 by a dynamic trio consisting of two event operators, and a software developer. Stas Chijik and Benjamin Roshia managed alcohol sales and licensing for some of the most attended warehouse parties in Brooklyn back in 2011. That’s when they came across a realization of what seemed like a never-ending problem. There were long lines and slow transaction speeds in purchasing drinks/food at these parties. That’s when the idea of a universal form of payment sparked. In 2016 they teamed up with Albert Akbashev, whose background is in design & technology, and began testing it in up-and-coming venues. The three then created Billfold in a tiny apartment in Ridgewood, Queens, and since have acquired hundreds of clients including MoMa PS1, Brooklyn Mirage/Avant Gardner, Knockdown Center, Anheuser Busch, Matte Projects, and most recently they worked in Miami during Art Basel – acquiring the top events like Rakastella, Heart Festival, All Day I Dream, Elrow, Pyramid People at Lemon City Studios and BPM Festival in Costa Rica.
After working with their development team they beta tested it at many of their smaller 300-500 person events and eventually after a year of making improvements and changes to the system they fully rolled it out for the 2017 summer season at The Brooklyn Mirage/Avant Gardner which has a 6,000+ capacity. There they saw a 45.2% increase in beverage sales by implementing Billfold. They created the system to make their operations more efficient and they expected to see an increase in our sales revenue however the large increase in sales was far beyond what they ever expected. They have seen as much as a 67% increase in sales and as they roll out more features, they anticipate this figure will be even higher.
In addition, Billfold is a socially responsible company where they treat their employees as family, planning staff trips, retreats and more. They support and have supported several initiatives that are important to them. Most recently they did a large initiative to help with Amazon forest fire relief. They are now working on a solution that is in within Billfold called “Billfold Give” that will allow event organizers to do fundraisers by partner with nonprofits and NGO’s allowing customers to donate leftover change on each transaction.
They believe in partnership with Billfold event organizers across the country will be able to help contribute to many noble causes, and they are very excited to release this feature!
Billfold Give provides a convenient way for customers to donate their change and round up to the whole dollar while spending money at events. They give event operators and venues the seamless capability to incorporate philanthropic outreach in their daily business operations. Billfold Give offers event attendees the opportunity of partying with a purpose and feeling good while doing good. Billfold Give also enables attendees to donate full dollar amounts at the bar checkouts to specific charities associated with the event.
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