Trade receivables marketplace TrustBills has continued its management team expansion with the hire of Oliver Reiss as its third managing director, taking on the dual function of CFO and COO.

The Hamburg-based fintech says Reiss is being brought in to internationalise its business model and professionalise the overall organisation, based on his background in building companies.

Reiss was previously CFO at Smaato, a San Francisco-based software company that auctions advertising media, which was sold to a Chinese listed company for US$148mn in 2016. He was at the company from 2008 and 2020.

Since then he has co-established AI.FUND, a Hamburg-based venture capital fund active in the artificial intelligence space. He remains a venture partner at the fund, and is also a shareholder and advisor at other start-ups.

Reiss joins at “a strategically decisive time”, says TrustBills founder and chief executive Jörg Hörster.

“In the current phase, we need to strengthen the growth path we have embarked on with the necessary financial and human resources and, at the same time, expand our products and services into other European markets,” he says.

Reiss adds that he sees “enormous future potential” in TrustBills’ expansion into other business areas and new markets internationally.

His appointment follows the hire of Hoi Fung as head of sales in January, as the company looks to disrupt the factoring and supply chain finance market with its flagship invoice exchange platform while preparing for the Q3 launch of a new Track & Pay service.