Publication
How to Build a 3-statement Model: Best Practices for Valuations and Projections
https://www.toptal.com/management-consultants/financial-modelers/three-statement-modeling
Abdullah is available for hire
Hire AbdullahAbdullah Karayumak, CFA
Verified Expert in Management Consulting
Management Consulting Expert
Istanbul, Turkey
Toptal member since January 26, 2022
Bio
As a former KPMG consultant, Abdullah has collaborated with investors, lenders, and developers on complex investment decisions for 13+ years. He brings experience across infrastructure, renewable energy, and healthcare, including PPPs and large-scale investments. He applies a rigorous, model-driven approach to support value creation, risk assessment, and capital allocation. Abdullah is a CFA charterholder and combines technical depth with a practical, execution-focused mindset.
Career Highlights
Founder
KRY Advisory
Finance Manager
Ronesans - Meridiam Investment Partnership
Certification Highlights
Chartered Financial Analyst (CFA)
CFA institute
Case Studies
Solar Energy Investing in Turkey Sector Report
Market ResearchMarket AssessmentRenewablesReportingFundraisingEnergy
Financial Model for DCF Valuation of a Chemicals Company
Cash FlowCorporate FinanceFinancial AnalysisFinancial ModelingValuationFinancial Planning & Analysis (FP&A)+ 3 more
DCF Valuation of a Fashion Retailer
ValuationDCF ModelingValuation Modeling
Expertise
- Due Diligence
- Financial Modeling
- Financial Planning & Analysis (FP&A)
- Forecasting
- Investment & Trading Advisory
- Project Finance
- Three-statement Modeling
- Valuation
Work Experience
Founder
2023 - PRESENT
KRY Advisory
- Advised Bridgepoint Private Equity for the 1.5 billion USD vehicle inspection concession in developing a comprehensive financial model. Provided valuation insights to support strategic decision-making and stakeholder discussions throughout the process.
- Assisted the Islamic Development Bank (IsDB) on the $1 billion fund, developing a financial sustainability model incorporating strategic asset allocation, spending policy, and liquidity planning to support capital allocation and long-term sustainability.
- Evaluated the valuation of a Bahrain-based market research and data aggregation company, developing a 5-year business plan with market expansion scenarios and delivering financial analysis to support investor discussions and strategic growth decisions.
- Advised Tiber Health, a US-based healthcare education platform, on developing a fully integrated financial model that uses enrollment forecasting, multi-entity consolidation, and automated historical data integration to support strategic decision-making.
- Assessed the valuation of Rama Enerji, including its power generation and energy trading operations, developing DCF and market-based analyses across group entities, including two hydroelectric power plants.
- Fundraised in a Series A funding round for Munjz, a Saudi Arabian PropTech startup. Managed investor DD process, created a compelling pitch deck, built a detailed financial model, and P&L projections.
- Supported Bulut Klinik, a health-tech startup in telemedicine and clinic management, by developing a comprehensive financial model, valuation, and investor pitch materials, playing a key role in structuring and executing its fundraising process.
- Advised Deluxebase Ltd, a UK-based toy distributor, by developing an integrated financial model enabling granular budgeting, robust cash flow forecasting, and capital planning to support strategic and operational decision-making.
- Advised KVK, Turkey's largest mobile device distributor, during restructuring by developing an integrated financial model incorporating scenario analysis and delivering actionable insights and dynamic dashboards to support stakeholder decision-making.
- Assisted an activist investment fund in the US by developing a scenario-based financial model comparing base case and value-creation strategies, incorporating fund waterfalls and LP distributions to support investor evaluation and capital allocations.
Focus areas: Financial Modeling, Training, Valuation, Fundraising, Mergers & Acquisitions (M&A)
Associate Director
2021 - 2023
KPMG
- Advised on a around $450 million cross-border M&A transaction by developing a scenario-based financial model and defining key valuation assumptions, including growth, margins, and WACC, to support investor evaluation and capital allocation decisions.
- Provided valuation advice for a $200 million revenue multinational eCommerce company backed by institutional investors, including EBRD and Goldman Sachs, supporting investor analysis and strategic decision-making.
- Advised on over $1 billion of aggregate valuations across food and beverage companies, including leading regional players such as Senpilic, Antepsan, and Freeze Fresh.
- Delivered valuation and financial model training both in-house and to our clients, which received over 90% positive feedback.
- Advised on the feasibility and structuring of an aluminum recycling facility investment by developing a bankable financial model, enabling lender evaluation of key credit metrics to support financing and investment decisions.
- Conducted a market assessment for an alternative mortgage provider serving over 160,000 clients, identifying supply gaps in real estate financing and presenting valuation insights and growth opportunities to the board.
- Advised on multiple energy sector investments, including the valuation of a $1 billion gas distribution company, an 850 MW CCGT power plant, and a 500 MW diversified renewable energy portfolio, supporting investment and strategic decision-making.
- Supported a fintech startup focused on electronic money in investor discussions by creating a valuation model to guide share pricing and defining KPIs, such as MRR, ARR, and churn, to compare with similar startups.
Focus areas: Financial Modeling, Corporate Finance, Market Research, Due Diligence, Valuation, Mergers & Acquisitions (M&A), Forecasting, Financial Planning & Analysis (FP&A), Revenue & Expense Projections, Three-statement Modeling, Excel Expert, Valuation Modeling, M&A Modeling, Microsoft Excel, Business Models, Pitch Decks, Fundraising, Accounting, Debt, Ratio Analysis, M&A (Buy-side), DCF Valuation, Discounted Cash Flow (DCF), Apps, Analysis, Private Equity, Cash Flow Modeling, Training, Business Analysis, Month-end Processes, Excel 365, Profit & Loss (P&L)
Finance Manager
2020 - 2021
Ronesans - Meridiam Investment Partnership
- Oversaw entire financial affairs functions and team encompassing financial planning and reporting, accounting, tax, procurement, and administration functions.
- Managed project finance models and financial operations of four healthcare PPP investments with a total investment size of four billion USD.
- Worked with finance and operations teams to forecast monthly P&L and cash flow for each service channel. Discussed with line managers to understand the variances from budgeted figures and adjusted strategy based on the outcome of these discussions.
Focus areas: Project Finance, Financial Modeling, Portfolio Management, Valuation, Forecasting, Revenue & Expense Projections, Three-statement Modeling, Finance, Cash Flow Management, Business Models, Real Estate, Real Estate Development, Budget Modeling, Fundraising, Accounting, Models
Investment Officer
2017 - 2020
IsDB
- Financed projects in various countries, including Ankara to Nigde Motorway public-private partnership in Turkey, Shobak Wind Energy (PSC) in Jordan, and the Feni Heavy Fuel Oil Power Plant in Bangladesh.
- Created the investment pitch, financial model, and market study for a developer to raise 35M USD investment to build, own, and operate a mixed-use residential tower project in Manhattan. Assisted in the negotiation of the project agreements.
- Employed risk rating models to assess the credit risk of transactions and estimated risk-based pricing, probability of default, and suggested exposure limits.
Focus areas: Risk, Revenue & Expense Projections, Three-statement Modeling, Islamic Banking, Real Estate, RiskMetrics, Real Estate Development, Fundamental Analysis, Equity Research, Credit Risk, Lending, Brokerage, Commercial Real Estate Finance (CREF), Debt, Energy
Investment Banking Associate
2013 - 2017
Kuwait Finance House
- Increased the total project finance portfolio substantially from 200 million USD to 800 million USD by diversifying from real estate into renewable energy.
- Managed the structuring and execution of large-scale project financings in Europe, Turkey, and the CIS region. Worked in the closing of a credit risk for 600 million USD including more than 30 renewable energy projects.
- Closed over five transactions in the debt capital markets and syndications amounting to over two billion USD.
Focus areas: Corporate Finance, Due Diligence, Financial Analysis, Investment & Trading Advisory, Investment Funds, Islamic Banking, Fundamental Analysis, Equity Research, Credit Risk, Debt Capital Markets, Lending, Brokerage, Commercial Real Estate, Financing, Models
Other Experience
Education
2015 - 2016
Master's Degree in Finance
Bosphorus University - Istanbul, Turkey
2009 - 2013
Bachelor's Degree in Industrial Engineering
Bilkent University - Ankara, Turkey
Certifications
FEBRUARY 2022 - PRESENT
Chartered Financial Analyst (CFA)
CFA institute
Skills
Finance
Corporate Finance, Financial Modeling, Project Finance, Cash Flow, Mergers & Acquisitions (M&A), Valuation, Forecasting, Financial Planning & Analysis (FP&A), Revenue & Expense Projections, Three-statement Modeling, Fundraising, Valuation Modeling, M&A Modeling, Islamic Banking, Accounting, Fundamental Analysis, Equity Research, DCF Valuation, Discounted Cash Flow (DCF), CFO, Private Equity, Cash Flow Modeling, Internal Financial Reporting, Budgeting, Profit & Loss (P&L), Market Research, Due Diligence, Risk, Debt, Ratio Analysis, M&A (Buy-side), RiskMetrics, Credit Risk, Lending, Series A
Output Software
Microsoft Excel
Industry Expertise
Real Estate Development, Commercial Real Estate, Energy, Real Estate, Debt Capital Markets
Geographic Expertise
Middle East
Other
Investment & Trading Advisory, Investment Funds, Excel Expert, Finance, Cash Flow Management, Pitch Decks, Commercial Real Estate Finance (CREF), Financing, Employee Stock Options, Analysis, P&L Management, Training, Business Analysis, Month-end Processes, Excel 365, Portfolio Management, Business Models, Software as a Service (SaaS), B2C, SaaS, Apps, Financial Analysis, Investments, Equity, Market Assessment, Renewables, Reporting, Budget Modeling, DCF Modeling, Models, Manufacturing, Brokerage, B2B, Platforms, Pitch Deck Consultant
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