We introduce a novel framework that incorporates multiple scattering for large-scale 3D particle-localization using single-shot in-line holography. Traditional holographic techniques rely on single-scattering models which become inaccurate under high particle-density. We demonstrate that by exploiting multiple-scattering, localization is significantly improved. Both forward and back-scattering are computed by our method under a tractable recursive framework, in which each recursion estimates the next higher-order field within the volume. The inverse scattering is presented as a nonlinear optimization that promotes sparsity, and can be implemented efficiently. We experimentally reconstruct 100 million object voxels from a single 1-megapixel hologram. Our work promises utilization of multiple scattering for versatile large-scale applications.