Key Takeaways
- • Billd, a provider of financial solutions for commercial construction subcontractors, announced a $100 million credit facility from Victory Park Capital (VPC), according to a Business Wire release.
- • The facility is intended to fund Billd's continued growth and expand its working capital financing for subcontractors across the United States.
- • Billd, founded in 2018 and headquartered in Austin, Texas, targets the working capital gap created when subcontractors must pay for materials and labor before receiving payment from general contractors.
- • VPC, a global alternative asset manager specializing in private credit and asset-backed finance, describes the deal as part of its commitment to asset-backed financing for fintech platforms addressing structural lending gaps.
Summary
Billd, a provider of financial solutions for commercial subcontractors, has secured a $100 million credit facility from Victory Park Capital (VPC), according to a joint announcement issued by Billd in Austin, Texas and VPC in Chicago via Business Wire. The facility is intended to support Billd's continued growth and expand its ability to offer flexible financing to commercial construction subcontractors nationwide.
Billd CEO and founder Chris Doyle said the company has spent eight years pioneering construction working capital as an asset class. He said VPC's expertise in asset-backed finance makes it the right partner to help the company scale. Billd was founded in 2018 by two industry veterans with backgrounds in both construction and finance.
The company addresses a persistent cash-flow problem in commercial construction, where subcontractors often must pay for materials and labor well before general contractors remit payment. Billd's suite of products provides working capital designed to match construction payment cycles. The company says its construction-specific underwriting technology and servicing capabilities, combined with VPC's asset-backed finance expertise, are intended to expand subcontractor access to capital.
Gordon Watson, Partner at Victory Park Capital, said Billd has built a differentiated financing platform and that its specialized underwriting and understanding of construction payment cycles position it to serve an underserved segment of the market.
VPC, founded in 2007 and headquartered in Chicago, is a global alternative asset manager focused on private credit and asset-backed finance. It became a majority-owned affiliate of Janus Henderson Group in 2024. The release does not disclose the facility's pricing, terms, or maturity.
Billd CEO and founder Chris Doyle said the company has spent eight years pioneering construction working capital as an asset class. He said VPC's expertise in asset-backed finance makes it the right partner to help the company scale. Billd was founded in 2018 by two industry veterans with backgrounds in both construction and finance.
The company addresses a persistent cash-flow problem in commercial construction, where subcontractors often must pay for materials and labor well before general contractors remit payment. Billd's suite of products provides working capital designed to match construction payment cycles. The company says its construction-specific underwriting technology and servicing capabilities, combined with VPC's asset-backed finance expertise, are intended to expand subcontractor access to capital.
Gordon Watson, Partner at Victory Park Capital, said Billd has built a differentiated financing platform and that its specialized underwriting and understanding of construction payment cycles position it to serve an underserved segment of the market.
VPC, founded in 2007 and headquartered in Chicago, is a global alternative asset manager focused on private credit and asset-backed finance. It became a majority-owned affiliate of Janus Henderson Group in 2024. The release does not disclose the facility's pricing, terms, or maturity.
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