$70 million funding may take Khatabook valuation to $300 million

NEW DELHI/BENGALURU: Accounting services provider Khatabook, which helps merchants record and track business transactions, is in the final stages of closing a $70-million (about Rs 503-crore) funding round led by new investor B Capital Group, according to three people directly aware of the development.

Existing backers Sequoia Capital and Tencent are also expected to participate in the financing round, the people said. The round more than triples the valuation of the Bengaluru-based startup to between $275 million and $300 million in less than four months, indicating continued bullishness among investors to back highgrowth financial services startups.