Bengaluru-based trading app Sahi is reportedly seeking $50 million in new capital at a $500 million valuation. Founded by former Swiggy executive Dale Vaz, the firm is trying to grow its 0.61% market share in a crowded discount brokerage industry. Investors will be watching how Sahi balances aggressive pricing and tech spending against competition from established giants like Zerodha and Groww.
Sahi, a trading platform founded in 2023, has started discussions to raise between $40 million and $50 million in fresh funding. The company is targeting a valuation of up to $500 million, a sharp increase from the $200 million valuation it achieved in April 2026. The firm has reportedly hired an investment bank to manage the process, targeting both domestic and international investors to fuel its growth strategy.
Targeting Active Traders
Led by former Swiggy executive Dale Vaz, the platform is attempting to win over high-frequency traders. Sahi charges a flat fee of ₹10 for futures and options trades, which is lower than the pricing offered by several established competitors. The company is focusing on these active participants, as its internal data indicates that half of its user base drives 80% of its total transaction volume.
Beyond pricing, Sahi is betting on technology to attract users. The platform uses a proprietary charting engine designed to let traders view price charts, option contracts, and execute orders within a single window. It has also introduced an AI-powered assistant named Kyro to help users analyze data using simple text commands. The goal is to provide a faster and more intuitive experience that differentiates the app from simpler, mass-market platforms.
The Competitive Hurdle
While the company is growing, it remains a small player in a market dominated by much larger entities. As of September 2026, Sahi held a 0.61% share of active clients on the National Stock Exchange, ranking 17th in the industry. The discount brokerage space is currently dominated by massive players like Zerodha and Groww, which have millions of users and significantly deeper financial reserves. Zerodha, for instance, has remained profitable while operating without external venture capital, while Groww has reached a valuation in the trillions of rupees.
For a startup like Sahi, success will depend on its ability to convert new sign-ups into long-term, high-frequency active traders. Because customer acquisition costs in the financial services sector are typically high, the firm faces pressure to balance its aggressive expansion with long-term financial sustainability. Investors will likely track how much of this new capital is spent on marketing versus technology, as well as whether the platform can meaningfully increase its market share against the incumbents. The company's ability to maintain its low-cost pricing model while scaling operations will be a key point for shareholders to monitor in the coming quarters.