Sahi, an Indian stockbroking platform established by former Swiggy CTO Dale Vaz and ex-Kotak Securities executive Manish Jain, has secured as much as $33 million in Series B funding, per an announcement.
The round was led by existing investor Accel, with additional participation from Elevation Capital.
Sahi said it plans to deploy the funds towards strengthening its technology and AI capabilities. It also intends to broaden its product offerings to cover additional trading segments and grow its user base.
The latest round is understood to have valued the company at about $200 million, stated a Moneycontrol report.
Before this, in June last year, Sahi had garnered $10.5 million in its Series A round, led by Accel India and Elevation Capital, at a valuation of roughly $60 million.
Founded in August 2023, Sahi claims to offer a smoother experience for traders with its fast trades, easy-to-use charts, and a simple mobile app.
In India, there are more than 45 million active investor accounts. Even then, many traders and investors find it difficult and time-consuming to make well-informed decisions due to the complexity involved in the process.
The startup said its chart-focused interface enables traders to analyse markets, make decisions, and execute trades all in one place, without moving between different tools.
Stockbroking platforms in India have seen rapid growth in recent years, driven by increasing participation from retail investors and the rising use of digital trading tools.
The market is dominated by players including Groww and Zerodha, among others.
