OCBC, Visa and Doxa have introduced Singapore's first deep-tier financing solution for the construction sector, delivered through the Doxa Connex platform. The initiative aims to ease working capital pressures for subcontractors and suppliers located further down the construction supply chain. It went live in August and has already onboarded its first subcontractor, with Kimly Construction among the early adopters.
A targeted response to payment delays
Cash flow challenges are common in built environment projects where subcontractors often wait up to 100 days for payment as funds move through multiple layers. This delay creates financial strain and administrative friction for smaller firms. The new solution embeds financing into digital project workflows, allowing eligible subcontractors to access funds earlier once a main contractor or developer approves a work claim.
How the digital financing workflow operates
Through Doxa Connex, eligible subcontractors can initiate digital financing workflows linked to approved project transactions. After a main contractor or developer digitally approves a work claim, the subcontractor can receive payment before the invoice due date. Funds are disbursed via OCBC virtual purchasing cards, which allow subcontractors to transfer proceeds to their own bank accounts or pay their suppliers directly.
Why virtual purchasing cards matter
Virtual purchasing cards play a central role by converting approved financing into immediately usable payment capacity. This method reduces manual reconciliation and helps subcontractors manage supplier obligations with greater control. It also strengthens traceability because every transaction remains linked to the original project approval, giving all parties confidence in the workflow.
Early adoption with Kimly Construction
The first subcontractor has already benefited from early access to funds since the solution went live in August. Kimly Construction is deploying the solution across two existing projects and is currently onboarding selected subcontractors. This early rollout is intended to help smaller firms manage cash flow more effectively and support smoother project delivery.
Collaboration and ecosystem expertise
The solution combines OCBC's financing capabilities, Visa's digital payments and ecosystem expertise, and Doxa's procurement and payments infrastructure. By embedding financing into existing digital workflows, the partners aim to make working capital access more seamless, transparent and practical for businesses deeper within the value chain. This approach is designed to support the broader built environment sector in Singapore.
Leadership views on supply chain resilience
OCBC's Carmen Chan noted that businesses further down the supply chain are often most affected by payment delays and cash flow constraints. Visa's Adeline Kim highlighted that construction small and medium businesses are increasingly seeing positive results from digital tools, with the partnership embedding financing into trusted project workflows. Doxa's Edmund Ng added that the initiative shortens payment timing gaps while preserving traceability and accountability.
Broader industry context for construction SMBs
Small and mid-sized construction businesses often face structural barriers when seeking working capital from traditional financing sources. Visa research indicates that many construction SMBs are still in the earlier stages of digital adoption, yet a large proportion already report positive impacts from digital tools. This environment creates a meaningful opportunity to modernise business payments and embed finance directly into project workflows.
Scaling across Singapore's built environment
The initial rollout will serve as a foundation for scaling deep-tier financing across Singapore's built environment sector. Feedback from participating subcontractors will be used to refine the financing workflow and support wider adoption across the construction ecosystem. The partners expect this model to contribute to a more connected, resilient and efficient construction ecosystem in Singapore.
The launch of Singapore's first deep-tier financing solution marks a significant step toward resolving persistent cash flow bottlenecks in construction. By connecting financing to approved project claims and using virtual purchasing cards, the initiative offers a practical way for smaller subcontractors and suppliers to access liquidity sooner. As more firms join the platform, the partners aim to build stronger financial resilience and digital maturity across the entire construction value chain.