Billd, a financial solutions provider for commercial subcontractors, has secured a $100 million debt facility. The funding round was led by LL Funds LLC and aims to support the growing demand for Billd's Material Financing and Pay App Advance products. These offerings are designed to address common working capital challenges in the construction industry.
Subcontractors have traditionally faced financing options that either do not meet their needs or are too expensive. With this new debt facility, Billd aims to lead subcontractors into improved financial services tailored specifically for the construction sector.
Chris Doyle, founder and CEO of Billd, stated, "The construction industry has left subcontractors footing the bill for materials and labor for too long. That responsibility should not be placed on subs. Billd’s new debt facility is another milestone toward bringing smart, scalable working capital to every commercial subcontractor in the United States."
Raj Mundy, partner at LL Funds, commented on the investment: "Billd provides a unique financing solution to an underserved part of the construction sector, enabling subcontractors to grow their businesses rather than being held captive by capital constraints, and we’re glad to support the company’s continued growth."
The company has also established a new warehouse facility to meet demand for its Pay App Advance product. This service offers advances on approved Pay Applications for subcontractors, ensuring they have necessary capital for timely project completion. As public project spending increases due to infrastructure investments, Billd remains committed to supporting subcontractors with supply chain finance solutions.
Founded in 2018 by Christopher Doyle and Jesse Weissburg, Billd offers financial products that help subcontractors manage costs like materials and labor through flexible credit lines aligned with industry payment standards.
LL Funds specializes in opportunistic investments in asset-backed securities and companies originating them since its inception in 2009.
For further information or inquiries, contact Jon Katz at Katz@billd.com.