Billd has announced the appointment of Burak Gunes as its new Chief Risk Officer. Gunes, a former executive at Capital One, brings with him extensive experience in risk management, credit analysis, and analytics after two decades in various leadership roles within established financial institutions.
Gunes' expertise is expected to significantly influence Billd's operational and risk management practices as the company aims to meet growing demand for its Material Financing and Pay App Advance products. His appointment comes at a strategic time, following the recent closure of a $100 million debt facility intended to support Billd's 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," stated Christopher Doyle, President and CEO of Billd. "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 position marks Gunes' second tenure as a Chief Risk Officer. Previously, he held this role at Foundation Finance Company LLC. During his 16-year career at Capital One, he managed corporate credit responsibilities and shaped analytical procedures while overseeing credit risk for partner portfolios exceeding $10 billion in assets.
Billd was founded by Christopher Doyle and Jesse Weissburg with an aim to empower subcontractors by offering them extended payment terms for materials and faster invoice payments. The company's innovative payment solutions are designed to address common cash flow issues faced by subcontractors who typically experience long delays before receiving payments.