Sensibull

What Sensibull does

Sensibull (legally Riskilla Software Technologies Private Limited) is a Bangalore-headquartered retail options trading platform that operates exclusively in India. Founded in 2017 by Abid Hassan, Balajee Ramachandran, and Sidharth Reddy, the company has built a web- and mobile-based (iOS/Android) platform offering 25+ options trading tools including a Strategy Builder, Option Chain with Greeks and Implied Volatility, Open Interest analysis, FII/DII institutional flow data, paper trading via Draft Portfolios, and a real-time Options Screener. The platform is deeply integrated with India's four largest retail brokers — Zerodha, Angel One, Upstox, and ICICI Direct — through OAuth-based logins, meaning users access Sensibull through their existing broker credentials. The company also holds SEBI Research Analyst registration (INH200006895), giving it regulated standing to publish investment research.

Sensibull operates a freemium model: a free tier with 8 features drives user acquisition, and a Pro tier unlocks 25+ features. Critically, Zerodha users — Sensibull's largest user base — receive the Pro plan free, while Angel One/Upstox users pay ₹800/month (or ₹392/month on 6-month plans) and Google-only users pay ₹640–1,300/month. The business is bootstrapped after a single ₹2.5 crore (~$355K) seed round from Rainmatter Fintech (Zerodha's fintech arm) in August 2018, and has reported profitability since 2018. Distribution is channel-partner-led: Sensibull is exposed to millions of broker users through deep API integrations, supplemented by product-led growth, mobile app store presence (120K+ downloads, 4.5–4.8 star ratings), social media, and earned media coverage in major Indian outlets.

The platform claims 180,000+ daily active users, 500,000 monthly users, and 2 million+ cumulative users, supported by a lean team of approximately 40 people (mostly engineers) operating with flat hierarchy. Revenue appears driven primarily by Pro subscription fees from non-Zerodha broker users, with possible revenue-share arrangements with select brokers. The company has not raised external capital since 2018 and is founder-controlled.

Name

Sensibull

Legal name

Riskilla Software Technologies Private Limited

Website

https://sensibull.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

Sensibull is India's largest options trading platform for retail traders, offering 25+ analytics, strategy-building, and paper-trading tools via deep integrations with Zerodha, Angel One, Upstox, and ICICI Direct. Founded 2017, bootstrapped and profitable since 2018.

Ownership category

akta.pro rank

Product category

Options Trading Platform

NAICS

Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Investment Advice (6282)

akta.pro primary industry

Algorithmic Trading & Execution Platforms (FSAFANAN)

akta.pro secondary industry

Multi-Asset Electronic Trading Platforms (FSAFANAH)

Keywords

• Options trading platform
• Options strategy builder
• Options chain analysis
• Paper trading app
• F&O trading tools

Headquarters

HQ city

Bangalore

HQ country

India

HQ region

Asia

Markets served

GTM type

B2C

Offering type

Software

Cost components

Personnel, Technology or R&D, Infrastructure, Marketing or Sales, Operations

Revenue model

1. Subscription - Pro Plan: Monthly subscription for Pro Plan with all 25+ features. Zerodha users get Pro plan free. Angel One and Upstox users pay ₹800/month (or ₹392/month on long-term plans). Google users pay ₹640/month. Includes free trial period with no automatic charges.
2. Broker Partnership Revenue Share: Revenue may be generated through partnerships with brokers. No charges for Sensibull on select brokers, suggesting potential B2B revenue arrangements.
3. Freemium Model: Free Plan with 8 basic features (Basic Option Chain, FII DII Data Analysis, Events Calendar) to drive user acquisition and conversion to Pro.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels6 records

Core offering

Sensibull operates India's largest options trading platform, offering retail traders a web and mobile suite of tools to build, analyze, and execute options strategies. The platform integrates directly with major Indian brokers (Zerodha, Angel One, Upstox, ICICI Direct) via OAuth login, providing a Strategy Builder with 25+ pre-built strategies, real-time Option Chain, Open Interest analysis, FII/DII institutional data, paper trading via Draft Portfolios, and verified P&L social trading. Revenue comes from a freemium model with a paid Pro subscription.

Product overview

Sensibull is India's largest options trading platform operated by Riskilla Software Technologies Private Limited. The platform offers a unified suite of trading tools, analysis tools, and educational resources for options traders. Core products include the Strategy Builder (for creating and analyzing 25+ options strategies with P&L curves and Greeks), Option Chain (per strike prices, IV, Greeks), and Draft Portfolios (paper trading for practice). The analysis toolkit includes Open Interest charts, FII DII Data, Multi Straddle-Strangle Charts, Options Screener, Stocks Heat Map, Technical Signals, IV Chart, and Daily Market Analysis. Trading features include Basket Orders, Easy Options, Expiry Trades, Mindful Trading, and Verified by Sensibull for social trading. The platform is integrated with major Indian brokers (Zerodha, Angel One, Upstox, Icici Direct) and is available via web and mobile apps.

Differentiator

Problem solved

Functional benefit

Products and services

• Strategy Builder An options strategy construction and analysis tool that allows users to choose from 25+ pre-built strategies or create custom ones, visualize P&L curves, analyze Greeks, and understand risk before placing trades. Targeted at Indian retail options traders from beginners to professionals.
• Option Chain User-friendly option chain displaying per strike options prices, Open Interest, Greeks, Implied Volatility (IV), Probability of Profit (POP), IV Change, Intrinsic and Time value. Built for Indian F&O retail traders.
• Draft Portfolios (Paper Trading) Paper trading feature that enables practice of options strategies using market data and real-world conditions to test performance, understand outcomes, and build confidence before risking actual capital. Targeted at new and learning options traders.
• Open Interest Analysis Provides Open Interest charts, OI Change, and Put-Call Ratio (PCR) charts to derive clues on market direction. Includes Multistrike Open Interest Charts to see OI charts for multiple options strikes together. Built for Indian F&O traders.
• FII DII Data Complete breakdown of historical buy-sell data showing what Foreign Institutional Investors (FII) and Domestic Institutional Investors (DII) are doing in the Indian market. Targeted at Indian retail traders following institutional flows.
• Multi Straddle-Strangle Charts
• Options Screener
• Mindful Trading
• Verified by Sensibull
• Mobile App (iOS and Android) Mobile application for iOS and Android providing access to all Sensibull strategies, positions, and insights on the go. Available for download on the App Store (4.6-4.8 stars) and Google Play (4.5-4.6 stars) with 120K+ downloads. Targeted at Indian retail options traders who trade on mobile.
• Free Options Education 100% free options trading education including courses on market prediction, Option Strategies, Greeks, and safe trading with complete video courses in English and Hindi. Targeted at new and learning Indian options traders.
• Sensibull Pro Plan

Quantifiable outcome

• 180,000+ daily active users
• +3 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability2 records

Feature12 records

Partnerships

Four partnerships are on record, tiered core.

• ZerodhacoreChannel Partner/ Reseller/ DistributorIndia's largest stock broker with millions of users. Deep product integration through Zerodha Kite login. Zerodha users get Sensibull Pro plan free. Zerodha CEO Nithin Kamath endorsed Sensibull as their 'third partnership through Rainmatter Fintech' and the best options trading platform in India.
• Angel OnecoreChannel Partner/ Reseller/ DistributorMajor Indian broker with significant retail user base. Integration allows Angel One users to login via Angel One credentials and access Sensibull tools. Long-term partnership plans available for Angel One users at discounted rates.
• UpstoxcoreChannel Partner/ Reseller/ DistributorPopular discount broker in India. Upstox users can login via Upstox API and access Sensibull's options trading tools. Partnership enables cross-platform trading experience.
• ICICI DirectcoreChannel Partner/ Reseller/ DistributorPremier broker from ICICI Bank group targeting affluent and enterprise customers. ICICI Direct users can login via ICICI credentials. Strategic partnership targeting premium segment of options traders.

Scale indicators8 records

Expansion highlights5 records

Direct peers

• Opstra: Indian options analytics and strategy visualization platform from Definedge. Direct competitor in the Indian retail options strategy/analytics space with overlapping products like payoff diagrams and option chains.
• Trendlyne: Indian equities and options analytics platform offering screeners, option chains, and strategy tools to retail traders. Closely comparable in target customer, freemium SaaS model, and analytical depth for the Indian market.
• Tickertape: Indian investment analytics and research platform (by Zerodha's parent ecosystem) that has expanded into options and F&O analytics. Comparable as a retail-facing investment analytics platform in India.
• tastytrade: US-based options-focused trading and content platform (now part of IG Group). Highly comparable in mission: making options trading more accessible to retail through education, analytics, and execution tools.
• Unusual Whales: US options flow and analytics platform for retail traders, including options chain, OI, and sentiment tools. Comparable as a subscription-based retail options analytics product with social/verified-P&L features.
• OptionStrat: Options strategy builder and analytics platform used by retail traders globally. Direct overlap with Sensibull's Strategy Builder and visual P&L/curve functionality.

Broad incumbents

• MoneyControl: India's largest financial information and analytics portal, with options data, market analysis, and F&O content. Overlaps with Sensibull's analytics and educational mission at much broader scale.
• Investing.com: Global multi-asset financial data and analytics platform with options chains and strategy tools. Broader incumbent comparable in product surface and retail target audience, though not India-specialized.
• CBOE Global Markets: US options exchange operator and analytics provider. Comparable as the broader incumbent options market infrastructure player whose products and education shape retail options engagement globally.

Regional players

• Samco Securities: Indian discount broker offering proprietary analytics and options trading tools to retail. Competes with Sensibull as a vertically integrated broker plus analytics platform in the same Indian retail F&O market.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/BeSensibull
• YouTubeyoutube.com/besensibull
• LinkedInlinkedin.com/company/sensibull

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sensibull