Billd has secured a $100 million credit line from Victory Park Capital (VPC). The Austin-based fintech company serves commercial construction subcontractors across the United States. The obtained line will allow Billd to continue growing and increasing its lending capacity.
Furthermore, this agreement will strengthen subcontractors' access to flexible working capital. Founded in 2018, Billd addresses the financial challenges inherent in the construction industry. Subcontractors are often forced to pay for materials and labor before receiving payments from general contractors.
Such delays can create significant cash flow pressure. Billd offers financial solutions tailored to construction payment cycles. These solutions help subcontractors cover operating expenses and take on additional projects. The company did not disclose the specific terms of the borrowing.
Founder and CEO Chris Doyle noted that VPC's experience in asset-backed financing makes it a suitable partner. He added that this collaboration will help expand access to working capital nationwide. The latest line represents a significant financial commitment for Billd.
Victory Park Capital will provide funding using its asset-backed lending capabilities. The investment firm specializes in private lending and structured financial solutions. VPC Partner Gordon Watson highlighted Billd's specific strengths in construction-focused underwriting. He also acknowledged the company's understanding of payment cycles and established lending platforms. The partnership combines Billd's financing technology with VPC's expertise, and both companies aim to improve access to credit for commercial construction.
VPC was founded in 2007 and is headquartered in Chicago. In 2024, the company became a subsidiary owned by majority shareholders of Janus Henderson Group. VPC invests in private lending and asset-backed financing markets, and provides structured finance and capital markets services through its affiliated platform, Triumph Capital Markets.
The new line demonstrates sustained client demand for specialized credit instruments. Such organizations target niche markets that many major financial institutions cannot serve. Commercial subcontractors frequently face payment delays after completing work. However, their expenses begin long before general contractors start paying them. Additionally, they are obligated to purchase necessary inventory for construction work and pay workers' salaries throughout the project. Billd develops financial products specifically for these circumstances.
Its solutions provide access to capital for materials, labor, and other project costs. The company also utilizes proprietary analytical and financial methodologies. This approach supports underwriting decisions based on construction payment models. The company's financial products help subcontractors manage unpredictable cash flow. They can also undertake additional contracts without relying entirely on delayed client payments.
The $100 million line follows the expansion of Billd's financing offerings. Recently, the company launched Flex Line—a revolving credit product for subcontractors. This product offers another financing option besides purchasing materials for specific orders and advances. It also supports businesses facing regular working capital needs. The new line may help Billd expand access to these solutions. This occurs amid increased investment from specialized financing platforms into underserved industries. Other companies are also addressing working capital issues in construction. Nevertheless, this partnership strengthens its ability to serve subcontractors.
Riverchain announced a $10 million investment in working capital in October. However, Billd's funding announcement does not signal a broad credit boom. The company did not disclose the use of the line or detailed credit activity metrics. Its next phase will depend on responsible lending and sustained demand.
