All construction has one thing in common: it’s all supposed to get paid for.
Unfortunately the construction industry leads all others worldwide for length of accounts receivable and least access to working capital. The high cost of layers of flawed and outdated payment-related processes embedded in projects at every link in the project payment chain is undisputed. BuildPay is the only financial technology, built specifically for construction, to protect everyone in the chain. Our mission is to reinvent construction payment, eliminate layers of flawed processes, clear out symptomatic costs, and enable work to accelerate.
INCREASED BUYING POWER
Providers prioritize BuildPay projects, giving increased buying power to funders and owners.
PAYWHENPAID & PAYBEFOREPAID
Proprietary payment timing controls allow for ultimate payment flexibility for providers.
BUILT WITH INDUSTRY INSIGHT
The technology was built because of first-hand experience in the construction industry, with insider access to the payment world.
ALL CONSTRUCTION TYPES
From new residential construction and large catastrophe events, BuildPay’s technology can provide benefits across the board.
SHORTER ACCOUNTS RECEIVABLE
Payments to everyone in the chain are made directly to their bank account, as soon as the work is approved.
Projects bid and executed with BuildPay come in lower for every line item.
The unique heirarchal structure gives users complete control of their projects.
NO TRADE CREDIT
Everybody’s holding the project money longer, but with BuildPay there’s no need for trade credit.
With visibility into every line item and increased transparency on every job, risks are reduced for every project member.
We’re Making Headlines
BONITA SPRINGS, FL Jun 26th, 2018 – Upstate New York based construction payment tech startup, BuildPay, celebrated its first million-dollar project this week. The milestone is the first of many that are expected to tip in the coming months. The project...
CHICAGO, ILLINOIS, 2018-Apr-14 — Steve Wightman, Founder and CEO of disruptive construction payment technology company, BuildPay, has been chosen as part of BuiltWorlds’ first-ever Mavericks Report: “25 Pioneers Who’ve Transformed The Built Industry,” a...
We were featured in BuiltWorlds Weekly Round Up for the Week of January 26th. Check out number 3 to see the latest update on BuildPay and what our employees are up to. https://builtworlds.com/news/round-up-jan-26-18/
CEO Blog: Two Cents on a Barrelhead
NUMBER ONE - Mom & Pop Independent Material Providers across the county all seem to say the same thing, “we do not like being the bank for projects”, referring to their extending lines of credit for materials averaging 42% of a project’s...
NUMBER TWO - If you deliver projects for state government you know about WBE’s (Women-owned Business Enterprises) and MBE’s (Minority-owned Business Enterprises). There are strict requirements on government funded construction projects that...
NUMBER THREE - You can’t talk about payment conundrums without discussing the surety bond that assures a contractor will perform and pay their bills. Sureties are commonly involved with construction for government entities; especially larger...