Billd has announced the appointment of Burak Gunes as its new Chief Risk Officer. The company, known for providing commercial financing to construction subcontractors, is expanding its executive team with this addition. Gunes brings two decades of experience from leadership roles in established financial institutions, specializing in risk management, credit analysis, and analytics.
His expertise is expected to enhance Billd's operational and risk management practices, especially as the demand for their Material Financing and Pay App Advance products grows. This appointment coincides with the closing of a $100 million debt facility aimed at supporting growth through 2023 and beyond.
Christopher Doyle, President and CEO of Billd, stated: “The stronger our processes around evaluating risk, the more successful we will be in developing the right financial solutions to subcontractors’ biggest challenges.” He added that Gunes joining Billd marks a significant milestone for the business.
This role is not new for Gunes; he previously served as Chief Risk Officer at Foundation Finance Company LLC. His tenure at Capital One spanned 16 years where he managed corporate credit responsibilities and shaped analytical procedures. At Capital One, he oversaw credit risk for partner portfolios exceeding $10 billion in assets and led a department of over 50 employees.
Billd was founded by Christopher Doyle and Jesse Weissburg who sought to bring Wall Street’s financial power to construction sites. Their payment solutions offer subcontractors extended payment terms for materials and quicker invoice payments. Recognizing that traditional credit metrics do not effectively predict risk in construction, Billd has developed proprietary analytic tools tailored to this industry.