Selected subcontractors on two construction projects in Singapore can now obtain funds against approved work claims before their invoices fall due, through a financing service offered on Doxa Connex.
Doxa Holdings, a Singapore fintech company that digitalises procurement, payment and financing processes for the built environment, has deployed the service with Singapore banking group OCBC and digital payments company Visa. Kimly Construction, a Singapore-based A1 general building contractor, is using it on two existing projects.
The service went live in August 2026. One subcontractor has already gained early access to funds and others are being onboarded. The companies have not identified the projects, disclosed the amount financed or stated how many businesses will join the initial deployment.
Approved construction claims support early financing
Construction payments can pass through several levels of contractors before reaching the businesses that carried out the work. The companies behind the service said the wait can extend to 100 days in some cases.
A developer or main contractor first approves a work claim digitally through Doxa Connex. An eligible subcontractor can then receive payment before the invoice due date.
Funds are disbursed through OCBC virtual purchasing cards. Subcontractors can transfer the proceeds to their bank accounts or use them to pay their own suppliers. Visa is providing digital payments support for the service.
The financing is tied to approved project transactions held in Doxa Connex. The platform already supports construction processes including procurement, claims, invoice approvals, payments and financing.
No details have been released about eligibility requirements, financing rates, repayment terms or how much earlier subcontractors could be paid.
Live deployment follows a 2023 simulation
The underlying payment model has been tested before. Visa announced a similar collaboration with UOB and Doxa in November 2023, describing it at the time as the first deep-tier financing use case of its kind in Asia Pacific.
That system also connected certified work claims with payments made through virtual cards before invoices fell due. JTC and Kimly Construction were named as the first participants, but the trials used past projects to simulate the payment process. UOB was the first card issuer involved in that version of the service.
The 2026 deployment differs in that it is being used on existing projects and has provided funds to a subcontractor.
Kimly’s work with Doxa began before the 2023 trial. In 2022, the contractor worked with UOB and Doxa on a green trade-finance transaction for the Singapore Institute of Technology campus at Punggol North.
Invoices, supporting documents, transaction data and fund disbursements were handled through UOB Infinity and Doxa Connex. Digital records held on the platform allowed UOB to provide green and sustainable trade financing without requiring additional paper documents.
More subcontractors to be added after initial deployment
Doxa Connex covers procurement and payment processes extending from progress claims and payment certificates to invoice matching and direct bank payments. It connects developers, main contractors, subcontractors, suppliers and financial institutions through shared transaction records.
OCBC, Visa and Doxa said feedback from participating subcontractors would be used when considering wider adoption in Singapore’s construction sector.
