Polytrade, a receivables finance company, has hired Thierry Lassy-Taty to the newly created position of head of credit.
Lassy-Taty previously served as senior credit analyst at Greensill, until its collapse earlier this year. Prior to that, he held credit and risk analyst roles at numerous institutions, including Société Générale, LafargeHolcim, ABN Amro and BGFIBank.
Founded in 2014, Polytrade provides working capital to small and medium enterprises, enabling them to fulfil their orders to large global firms including Walmart, Ikea, Nike and Debenhams. The company says it has a customer base of over 5,000 borrowers, and has financed US$500mn in invoices. This year, Polytrade has started developing a blockchain-based decentralised finance protocol that it says will harness the “massive liquidity pool” of the crypto world by tokenising invoices.
Based out of Polytrade’s corporate headquarters in Dubai and reporting to Polytrade founder and CEO Piyush Gupta, Lassy-Taty is charged with drafting the credit policy that will be coded into smart contracts on the blockchain, as well as assessing credit risks.