Billd Secures $100M Facility from Victory Park Capital

Billd, an Austin, TX-based provider of financial solutions for commercial subcontractors, has secured a $100 million credit facility with Victory Park Capital.

The facility will support the company's growth and expand its ability to provide flexible financing solutions to subcontractors across the United States.

Billd provides working capital to construction subcontractors who often need to pay for materials and labour before receiving payments from general contractors. The new facility will help the company increase access to financing for these businesses.

What is Billd?

Billd provides financial solutions designed specifically for commercial construction subcontractors. Its financing products help contractors cover essential expenses, including materials and labour.

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In commercial construction, subcontractors often face long payment cycles. They may need to pay suppliers, and workers well before receiving money from general contractors creating cash flow pressure.

Billd offers working capital solutions designed around construction payment cycles. This helps subcontractors manage expenses, take on new projects and run their businesses without relying solely on delayed project payments.

How Much Financing Has Billd Secured?

Billd has secured a $100 million credit facility from Victory Park Capital.

The company has not disclosed details of previous financing arrangements or its total funding raised to date.

This facility is a credit arrangement intended to support Billd's financing operations, rather than an equity funding round.

Who Is Providing Billd’s $100M Credit Facility?

The facility has been provided by Victory Park Capital, an investment firm focused on asset-backed financing solutions.

The partnership combines Billd's construction-specific underwriting technology and servicing capabilities with VPC's experience in asset-backed finance.

Why the Financing Matters

The $100 million facility will support Billd's growth and increase its ability to provide working capital to commercial construction subcontractors across the US.

The financing is designed to help address the industry's cash flow challenges by expanding access to credit that reflects construction payment cycles.

Who founded Billd?

Billd was founded in 2018 by Christopher Doyle and Jesse Weissburg.

The company is headquartered in Austin, Texas. Its founders bring experience in both construction and finance.

“For the past eight years, Billd has pioneered construction working capital as an asset class, focused on bringing subcontractors the best financial solutions in the industry,” said Chris Doyle, Founder and CEO of Billd. “Victory Park's expertise in asset-backed finance makes them the right partner to help us scale and bring working capital to subcontractors nationwide."

Market and Business Growth

Billd focuses on commercial construction subcontractors, a segment that often faces difficulties accessing financing suited to its payment cycles.

Its financial products help businesses cover materials and labour costs while waiting for payments from general contractors. The company aims to make it easier for subcontractors to manage cash flow and take on new projects.

The company has not disclosed revenue, customer numbers, or other business growth metrics in the announcement.

What Happens Next?

Billd plans to use the credit facility to expand its financing capacity and serve more commercial construction subcontractors across the United States.

The partnership with Victory Park Capital will support the company's growth and its efforts to improve access to working capital across the commercial construction industry.

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