Trading platform Sahi has raised $33 million in a Series B funding round led by Accel Global, with participation from existing investors Accel and Elevation Capital, as it looks to expand its product suite and scale its user base in an increasingly competitive discount broking industry.
The fundraise comes less than a year after its $10.5 million Series A and marks a sharp jump in valuation to about $200 million post-money, up from $60 million previously, co-founders Dale Vaz (former CTO of Swiggy) and Mahish Jain said in an interview.
“The focus of the round is to help us build on some of the early success that we’ve had over the last 12 to 15 months,” Vaz said, adding that Sahi will expand into new categories such as commodities, margin trading facility (MTF) and mutual funds, while continuing to invest in its core equities and derivatives platform.
“We are embedding AI capabilities into the actual trading workflows… to help traders discover opportunities, manage risk, and size their positions. It’s going to be very contextual and personalised,” they added.
Purpose of Sahi
Founded in 2023, Sahi aims to onboard serious retail traders, offering integrated charting, analytics and execution tools. The company competes with major discount brokers like Zerodha, Groww and Upstox, and is estimated to hold around 3% of retail options trading volumes, with a majority of its users being experienced traders migrating from other platforms.
The platform has seen strong growth since its launch in January 2025, onboarding nearly 4 lakh demat accounts and scaling to over a million trades per day.
“India has over 100 million trading accounts, but most retail traders are still being handed tools that don’t match their ambition,” Vaz said. “This round lets us go deeper on that bet.”
The company will continue to focus on cost efficiency, leveraging AI internally to keep its 60-people team size lean. It will also continue with its current pricing strategy, charging Rs 10 per order, roughly half the industry standard.