Launched by HSBC in 2019, Serai was a technology-driven company that aimed to create a global network for the apparel and textile industry. Its mission was to digitize the supply chain by connecting buyers and suppliers, facilitating the building of trusted relationships, and providing data-driven insights. The platform was designed to help businesses manage their supply chains, mitigate risks, and access trade financing solutions. However, Serai failed to achieve sufficient commercial viability and HSBC announced its closure in March 2022, with operations ceasing by June 30, 2022.