Sahi Secures $33 Million in Series B; Valuation Skyrockets to $200 Million
BENGALURU — Sahi, the Bengaluru-based stock trading platform founded by former Swiggy CTO Dale Vaz, has successfully raised $33 million in a Series B funding round. The round was led by Accel Growth, with strong participation from existing backers Elevation Capital and Accel India.
This fresh injection of capital marks a significant milestone for the startup, which has seen its valuation triple to $200 million in less than a year.
Disrupting the Broking Status Quo
Since beginning full-scale operations in January 2025, Sahi has positioned itself as a lean, tech-first alternative to legacy broking giants. The platform specifically targets high-frequency options traders and retail investors with a focus on speed and in-house infrastructure.
Aggressive Pricing: Sahi operates on a flat ₹10 per order model, effectively halving the industry standard of ₹20.
Scale: The platform currently processes over 1 million trades daily and holds roughly 3% of the retail options trading volume in India.
Infrastructure: Unlike many competitors that rely on third-party analytical tools, Sahi uses a "chart-native" interface built entirely in-house, allowing traders to track real-time Greeks and open interest without leaving the app.
The AI Edge and Future Expansion
The Series B funds are earmarked for scaling Sahi’s AI-native backend, which automates risk management and compliance. According to co-founder Dale Vaz, the lean team of only 60 people allows the company to maintain high gross margins even with lower per-trade fees.
"By building a heavily customized interface and AI-driven workflows, we are proving that heavy traders will migrate to platforms that provide a measurable technological edge," said Vaz.
Looking ahead, Sahi plans to expand its product suite beyond its current focus on Futures & Options (F&O) and cash trading. A key strategic move includes the launch of a Margin Trading Facility (MTF), aimed at creating predictable revenue streams through interest income to balance the volatility of pure broking commissions.
Investor Confidence
Accel Growth contributed approximately $20 million to this round. Investors noted that Sahi’s ability to grow trade volumes 24x within a single year while maintaining a low-cost operation made it a standout in a tightening venture capital environment.
With 400,000 demat accounts already active, Sahi is now eyeing pan-India expansion to challenge the dominance of incumbents like Zerodha, Groww, and Angel One.