The Challenge: Financing for Subcontractors in Construction
Scaling a specialized financial services company isn’t for the faint of heart, but Chris Doyle, CEO of Billd, has taken on the challenge headfirst. Billd provides financial solutions tailored to subcontractors, an underserved group in the construction industry. During his appearance on How They Scaled It, Chris shared the journey behind Billd, the importance of transparency, and how the company is using data and partnerships to reshape the industry.
The Birth of Billd: Right Idea, Right Time, Right Backing
For Chris, the idea for Billd wasn’t just a business opportunity—it was a necessity. With a background in construction and a keen eye for inefficiencies, he saw how subcontractors struggled with cash flow and financing. The stars aligned when he had the right idea, the right muscle to execute, and the backing of a private equity firm to bring Billd to life.
While many startup founders pivot their vision as they grow, Chris notes that the core problem Billd set out to solve remains unchanged. What has evolved is how they solve it—ensuring profitability and expanding distribution across a massive industry.
Navigating Challenges: How COVID-19 Tested and Strengthened Billd
When the pandemic hit, many industries saw financial chaos. But for Billd, the impact was minimal. Since construction workers were deemed essential, business continued—though with a heightened sense of risk management.
Billd took a proactive stance, advising subcontractors to protect their financial health, reduce unnecessary risk, and ensure business continuity. This approach not only helped their customers survive but also strengthened trust in Billd as a long-term partner.
Educating an Industry: Billd’s Approach to Transparency
One of Billd’s biggest challenges has been educating the market. Unlike traditional lenders or banks, Billd provides a unique financing solution. Instead of simply pushing a product, they focus on educating their customers about how to use debt strategically, how to incorporate financing costs into their bids, and how to maximize their working capital.
Chris emphasizes that Billd doesn’t talk down to subcontractors. Many of their customers are highly skilled entrepreneurs, even if they don’t fit the stereotypical “MBA” mold. Billd’s content strategy reflects this respect by providing peer-driven insights rather than company-centric messaging.
Leveraging Data & Institutional Capital to Drive Growth
Billd has taken an innovative approach to financing by focusing on project-based risk assessment rather than solely evaluating individual businesses. This shift has been game-changing.
Recently, Billd secured a new financial facility with a major institution (press release forthcoming), marking the first time institutional capital has been deployed to solve commercial construction’s supply chain finance dysfunction. By collecting hundreds of data points on every project, Billd has built proprietary risk models that allow them to provide financing with lower loss rates, making capital more accessible and affordable for subcontractors.
Smart Growth: A Measured Approach to Scaling
Unlike many startups chasing hypergrowth, Billd has remained disciplined. Chris highlights the importance of measured, mindful growth, ensuring that expansion is sustainable rather than reckless.
This approach extends to their marketing strategy as well. Rather than relying solely on digital advertising, Billd has found the most success through:
- Industry partnerships (e.g., Amex, suppliers, and tech platforms)
- Reputation-driven referrals (30% of new customers come from referrals)
- In-person networking at industry events
- A multi-touch marketing approach, blending digital and traditional channels
Leadership & Culture: Staying True to Their Mission
Chris acknowledges that leading a high-growth startup comes with its challenges. His leadership philosophy? Be authentic.
Rather than trying to fit a traditional CEO mold, he embraces his strengths and surrounds himself with a team he trusts. Culture at Billd is a work in progress, evolving alongside the company. But at its core, the team values relentlessness, transparency, and trust—principles that have helped them navigate both growth and challenges.
The Future of Billd: Staying Focused on What Matters
While many startups are tempted to expand into multiple areas, Billd remains laser-focused on solving financing and payment challenges in construction. With a total addressable market of $800 billion, there’s plenty of room for growth without straying from their core expertise.
For Billd, the goal isn’t just to build a successful company—it’s to reshape the financial landscape for subcontractors, creating long-term industry change.
Final Thoughts
Chris Doyle’s journey with Billd showcases the power of combining industry expertise, data-driven innovation, and a relentless commitment to customer success. By staying true to their mission and continuously refining their approach, Billd is proving that financial solutions tailored for subcontractors aren’t just necessary—they’re transformative.
To learn more about Billd, visit Billd.com.
