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HSBC-backed tech startup Serai aims to become LinkedIn of global trade

Details of HSBC's investments in Serai were not disclosed

Reuters  |  Hong Kong 

In a first of its kind initiative, HSBC Holdings Plc is backing the launch of a technology startup that aims to connect small-and-medium-sized manufacturers with component suppliers in different parts of the world as part of its trade banking push. Hong Kong-based Serai, which is a wholly-owned subsidiary of Europe's biggest bank by assets, started formal operations last week, and is part of HSBC Chief Executive John Flint's plan to invest $15-$17 billion by 2020 on technology to boost growth. "Navigating international markets as a small-and-medium-sized company is ...

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First Published: Mon, June 24 2019. 09:52 IST