Trade and supply chain finance platform Finverity has made two hires as the firm works to expand its software as a service (SaaS) offering for financial institutions.

In recent months, Ben Grant has joined as commercial director and James Bowyer (pictured) has been appointed SaaS sales director.

Grant moved to Finverity after a seven-year stint at receivables finance specialist Aronova Interactive, where he had been leading commercial functions and partnerships. Prior to this, he held business development and sales roles at companies including Dun & Bradstreet, The Red Flag Group and Alternative Networks.

Bowyer made the switch to Finverity after nearly four years at tech-based working capital solutions provider Demica, where his more recent post was as associate director on the platform solutions team.

This month, Finverity announced the expansion of its FinverityOS system, which it says will now cover Islamic finance, purchase order finance, inventory finance and loans. Previously, the white label offering supported payables, receivables and distributor finance.

The expansion of FinverityOS is targeted at local and regional banks as well as non-bank financiers, enabling them to digitalise their operations and manage working capital and supply chain finance products all on one end-to-end system.

The system also includes a “create a deal” tool enabling lenders to produce and customise their own trade and supply finance products directly on FinverityOS.

“Bowyer’s remit focuses on expanding FinverityOS to ambitious but underappreciated local and regional financial institutions in new markets, including Eastern Europe, Nordics and the Middle East,” Finverity says in a statement.

Grant is tasked with crafting and implementing strategies aimed at driving Finverity’s expansion and developing a strong base of commercial partners.

Earlier this year, Finverity raised US$5mn in an equity funding round, which it said  would support the expansion of its trade and working capital products and allow the firm to open new offices in Dubai, Poland and Kenya.

In May, Starling Bank’s former head of SME banking, Symmie Swil, joined the company as head of operations.