# Former Swiggy CTO’s Trading App Sahi Targets $500 Million Valuation Sahi seeks $50 million in new funding to challenge India's established discount brokerage giants. - **Source:** [mint - companies](https://www.livemint.com/rss/companies) - **Published:** 2026-10-20 - **Topic:** [Finance](https://brifing.si/c/finance) - **Original article:** - **On Brifing:** https://brifing.si/s/4bc313cb-beb6-4a7b-a4aa-e51e238da082 ## Strategic Fundraising Ambitions Sahi, the stock trading platform founded by former Swiggy CTO Dale Vaz, is currently in early-stage discussions to raise between $40 million and $50 million. The company is targeting a valuation of $400 million to $500 million. They have engaged an investment bank to manage this capital raise from domestic and international venture firms. ## Aggressive Pricing Strategy To compete with incumbents like Groww and Zerodha, Sahi offers a flat brokerage fee of ₹10 per futures and options order. This pricing is significantly lower than the standard ₹20 charged by major rivals. The company aims to attract active traders who prioritize cost savings alongside a streamlined, high-speed digital product experience. ## Product Differentiation Focus Sahi differentiates itself by consolidating charts, order execution, and portfolio tracking onto a single screen to reduce cognitive load. The platform features an AI assistant named Kyro, which helps users analyze market data and create custom indicators using plain-language instructions. This integrated approach aims to simplify complex trading workflows for retail investors. ## Rapid Growth Trajectory As of September 2025, Sahi reported 281,028 active clients on the NSE, securing a 0.61% market share. Despite being a smaller player, the firm achieved an 11% growth in its active client base from August to September. This represents the fastest growth rate among the top 20 brokers currently operating in the Indian market. ## Market Context and Revenue Discount brokers now dominate the Indian market, accounting for 76-78% of active NSE clients in FY25, up from 38-40% in FY20. The broader wealth management sector represents a massive revenue opportunity projected to reach up to ₹2.6 trillion by FY30. Sahi relies heavily on frequent traders who generate the bulk of transaction volume. ## Competitive Landscape Challenges Sahi faces intense competition from well-funded rivals. Groww, which leads the market with 13.45 million active clients, recently listed with a market value of ₹1.24 trillion. Meanwhile, Zerodha remains a profitable entity without external funding, and Dhan’s parent company recently secured a $1.2 billion valuation, highlighting the high barrier to entry for new platforms. ## Targeting Active Investors The company is intentionally avoiding mass-market acquisition strategies, focusing instead on users who seek active control over their financial future. By leveraging word-of-mouth referrals and educational content, Sahi aims to keep customer acquisition costs low. They prioritize high-frequency traders, as those trading over 100 times monthly constitute 80% of their total transactions. ## Future Market Positioning Sahi’s valuation target represents a 2.5x increase from its $200 million valuation in April 2025. By combining in-house charting technology with competitive pricing, the startup attempts to carve out a niche among traders dissatisfied with fragmented interfaces. Success will depend on maintaining this growth momentum while navigating a highly consolidated and competitive brokerage landscape. ## Sources covering this story - https://www.livemint.com/companies/news/sahi-trading-app-fundraise-valuation-500-million-11792482018126.html — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._