Billd Secures $100 Million Facility from Victory Park Capital to Expand Working Capital Financing for Commercial Construction Subcontractors

AUSTIN, Texas & CHICAGO – November 5, 2026 – Billd, a leading provider of financial solutions for commercial subcontractors, today announced a $100 million credit facility with Victory Park Capital (“VPC”), a leading global alternative investment firm specializing in private credit and asset-backed finance. The facility will support Billd’s continued growth and expand its ability to provide flexible financing solutions to commercial construction subcontractors across the United States.

“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."

Founded in 2018 and headquartered in Austin, Texas, Billd addresses a critical working-capital gap in the commercial construction industry, where subcontractors are often required to pay for materials and labor well before receiving payment from general contractors. Through its suite of financing solutions, Billd provides subcontractors with access to working capital designed to align with construction payment cycles, helping them manage cash flow, take on new projects, and grow their businesses.

“Billd has built a differentiated financing platform that addresses a significant and persistent working capital challenge in the commercial construction industry,” said Gordon Watson, Partner at Victory Park Capital. “The company’s specialized underwriting capabilities, deep understanding of construction payment cycles, and established track record position it well to serve an underserved segment of the market. We are excited to partner with Billd and help support its next phase of growth.”

The facility underscores VPC’s commitment to providing tailored asset-backed financing solutions to innovative financial services platforms addressing structural gaps in traditional lending markets. By combining Billd’s construction-specific underwriting technology and servicing capabilities with VPC’s expertise in asset-backed finance, the partnership aims to expand access to capital for subcontractors and support the continued evolution of financing solutions across the commercial construction ecosystem.

About Victory Park Capital Advisors, LLC

Victory Park Capital Advisors, LLC (“VPC” or the “Firm”) is a global alternative asset manager that specializes in private credit and asset-backed finance. The Firm also offers structured financing and capital markets solutions through its affiliate platform, Triumph Capital Markets. Founded in 2007 and headquartered in Chicago, VPC became a majority-owned affiliate of Janus Henderson Group in 2024, gaining access to the firm’s 2,000+ employees across offices in 25 cities worldwide. Victory Park Capital is a Registered Investment Advisor with the SEC. Registration with the SEC does not imply a certain level of skill or training. Triumph Capital Markets (TCM) is a U.S. registered broker-dealer and operates solely within the United States. It is not registered to conduct securities business in any other jurisdiction. For more information, please visit www.victoryparkcapital.com.

About Billd

Billd stands alone as a partner that truly champions the subcontractor. Founded in 2018 by two industry veterans in both construction and finance, Billd’s construction-specific financial and payment products empower subcontractors to overcome the impacts of the longstanding broken payment cycle in construction. Billd offers access to working capital solutions to cover subcontractors’ most pressing costs, including materials and labor, providing flexible credit to accommodate the unpredictability of cash flow in construction. Billd’s patented analytic and financing methodology allows subcontractors to stabilize cash flow and more effectively grow their businesses.

Media Contacts

Victory Park Capital: Candice Sun, Janus Henderson Investors, candice.sun@janushenderson.com

Billd: press@billd.com