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Accel Growth backs stock trading startup Sahi with $33m

Bengaluru-based stock trading platform Sahi has raised US$33 million from Accel Growth, Elevation Capital, and Accel India.

The startup expands beyond futures and options and cash trading, said co-founder Dale Vaz.

Vaz said Accel Growth invested about US$20 million. The round valued Sahi at US$200 million.

The company planning new products in margin trade funding, commodity trading, and mutual funds after starting operations in January 2025.

Sahi was founded in 2023 by former Swiggy CTO Dale Vaz and former Kotak Securities executive Manish Jain.

The company has obtained a research analyst license and has 400,000 demat accounts, handling 3% of daily trades and recently reaching 1 million trades a day, Vaz said.

🔗 Source: The Economic Times

🧠 Food for thought

Implications, context, and why it matters.

Sahi focuses on active traders with low fees

  • Sahi is aimed at active traders, especially in futures and options (F&O), rather than the wider investing market 1.
  • Its app includes fast in-house charts, a “Scalper 2.0” mode for quick orders, and tools that let traders place trades from charts 2.
  • Sahi charges a flat 10 rupees (US$0.11) for each executed order. Groww charges 20 rupees (US$0.21) per executed order, or 0.05% of trade value, whichever is lower, according to Chittorgarh, a market-information website 1.
  • It also offers free account opening and no annual maintenance charges, which is common among India’s discount brokerages 1.

The US$33 million round can extend Sahi’s runway as AI spreads across the market

  • Sahi raised the money as AI gains ground in Indian securities markets, from investor tools to compliance and surveillance systems 3.
  • Zerodha and Groww use AI for tasks such as risk-management nudges and investor analysis features. The Securities and Exchange Board of India (SEBI), India’s securities market regulator, uses AI for market surveillance 3.
  • The US$33 million can cover operating costs, including burn rate, which is the pace at which a startup spends cash before it reaches positive cash flow 4.
  • That funding can lengthen Sahi’s cash runway. It can also give the company more time to add products, win users, and compete in a crowded industry 5.

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