HSBC-backed B2B digital platform Serai looks to broaden India play

Serai, the business-to-business (B2B) digital platform by HSBC that aims to ease global trade, is betting big on India as firms from the country account for over 7,000 of its 16,000 members, who are spread across 110 nations.

India is the largest contributor to Serai’s member base, and the platform, which went live in 2019, saw a 19 per cent month-on-month growth in Indian members since February 2020.

Says Vivek Ramachandran, chief executive officer of Serai: “The organic growth we have seen in India has been huge. We see ourselves continuing to invest in the market and it’s not just for SMEs (small and medium enterprises), we have been able to proposition targets in mid-caps and India has some of the world’s largest plants and largest apparel manufacturers using the platform.”