Tiger Global in talks to back freshly startup Dukaan at $300 million valuation

Dukaan, an app which helps small offline merchants set up online stores is in talks to raise $35-40 million led by Tiger Global Management- the US-based fund whose dealmaking frenzy has taken the Indian internet ecosystem by storm.

Dukaan will be valued at about $300 million, a nearly fifteen times jump in its valuation from less than six months ago, these people said, requesting anonymity. It raised $6 million led by Lightspeed India and Matrix Partners India and was valued at about $22 million.

Founded by Suumit Shah, Subhash Choudhary, Kaustub Pandey and Anurag Meena last year, Dukaan is among a slew of startups looking to digitise small businesses and take retail (kirana) stores online. The first wave of these apps, including Khatabook and OkCredit looked to digitise accounting for these merchants, helping them keep track of expenses and send payment reminders. Dukaan has about 4.4 million downloads and is used in over 1800 cities, as per its website.