Bengaluru, Oct. 20 -- Sahi, a stock trading app founded by former Swiggy chief technology officer Dale Vaz, is in talks to raise $40-50 million at a valuation of $400-500 million, two people aware of the development said. The company hired an investment bank last month to run the fundraising process, the people added.

"The company is pitching to Indian and overseas venture capital firms, but the talks are still at a very early stage," one of them said. Mint could not ascertain whether any new investors have committed to the round.

Sahi is pitching itself as an alternative to established discount brokers, combining lower brokerage fees with free, in-house charting tools and AI-powered features, one of the people said.

Its AI assistant, ...