Billd, the leader in commercial financing for construction subcontractors, announces the expansion of their C-suite with a new Chief Risk Officer, Burak Gunes. Gunes joins Billd after two decades serving in various leadership positions at a number of well established financial institutions and brings executive level experience in risk management, credit analysis, and analytics.
Gunes’ expertise will play a crucial role in the evolution of Billd’s operational and risk management practices required to meet the rising demand for the company’s Material Financing and Pay App Advance products. Gunes joins at an optimal time with the closing of a new $100M debt facility that was raised to fuel growth throughout 2023 and beyond.
“The stronger our processes around evaluating risk, the more successful we will be in developing the right financial solutions to subcontractors’ biggest challenges,” said Christopher Doyle, Billd’s President and CEO. “Burak joining Billd is a huge milestone for the business and positions us well to continue championing the subcontractor with financing solutions that truly meet their needs.”
This role marks Gunes’ second turn as a Chief Risk Officer, having previously held the position at Foundation Finance Company LLC. Prior to this, he served in various high management positions for Capital One, spanning a 16-year period. There, he handled an impressive array of corporate credit responsibilities, shaping analytical procedures and promoting more informed risk-taking. Gunes managed credit risk for partner portfolios with over $10B in assets, while overseeing a department of over 50 employees.
About Billd
Billd was started by Christopher Doyle and Jesse Weissburg, industry veterans in both construction and finance. Chris and Jesse were inspired to launch Billd to bring the financial power of Wall Street to the construction job site and to champion the subcontractor, a group that’s historically gotten the short end of the stick when it comes to construction payments. Billd’s suite of payment solutions allow subcontractors to bypass project hurdles with access to extended payment terms for materials and faster payment on invoices. For subcontractors who generally aren’t paid until more than 90 days from purchasing materials, Billd provides up to 120-day terms so they can stabilize cash flow and more effectively grow their businesses. With a deep understanding of the construction industry, Billd knows traditional credit metrics are poor predictors for risk in this vertical segment and has built a variety of industry-specific proprietary analytic tools to better assess risk in the construction industry.
