Billd Secures $7.3 Million to Enhance Financial Solutions for Subcontractors

Billd, a financial solutions provider for commercial subcontractors, has successfully raised $7.3 million in a recent funding round aimed at expanding its capital offerings. This investment will allow the firm to enhance products designed to address cash flow challenges faced by subcontractors, particularly through its new early pay initiative, Predictable Pay.

The announcement, made on November 5, details how Predictable Pay provides subcontractors with quicker and more consistent access to payments. According to Chris Doyle, founder and CEO of Billd, this initiative tackles a significant issue in the industry: cash flow instability.

“Early pay programs are one way subcontractors can bring more predictability to their payments and create a more resilient business,” Doyle stated. The funding will support Billd’s long-term vision of empowering subcontractors with effective financial solutions.

Driving Innovation in Construction Finance

Andy Newcomb, managing partner at MissionOG, which led the funding round, expressed confidence in Billd’s impact on the construction finance sector. “We continue to be impressed with Billd’s ability to create scalable, practical solutions that have meaningful impact on the construction industry,” Newcomb remarked.

Predictable Pay, launched in September 2024, was developed in collaboration with general contractors. This program not only offers faster payments to subcontractors but also provides general contractors with improved project performance and reduced risk, enhancing their competitive edge.

Doyle previously highlighted the financial struggles faced by contractors, noting that 46% of contractors experience difficulties in managing cash flow. Many in the commercial construction sector incur costs for materials well before receiving payments for completed work. “This has always been a dysfunctional part of construction that the subcontractor takes the brunt of,” he said.

Previous Funding and Future Goals

The latest funding round follows Billd’s earlier success in October 2024, where it raised $17.5 million. The company indicated that this earlier investment was intended to refine its product offerings and maintain its leadership in addressing subcontractor challenges.

In December 2024, Billd partnered with Atlas SP Partners to create a financing facility of $144 million to meet the growing demand from subcontractors for effective financial solutions. This strategic initiative further emphasizes Billd’s commitment to enhancing the financial landscape for subcontractors in the construction industry.

As the company continues to develop its offerings, industry stakeholders remain optimistic about the potential changes in construction finance, which could lead to a more stable and predictable environment for subcontractors.