GrayQuest, a fintech firm focused on providing payment solutions for India’s education ecosystem, said it has raised Series A equity funding of ₹56 crore ($7 million).
The round was led by Pravega Ventures, with participation from family investors such as Weizmann Group, Telama Family Office and Apurva Parekh (Pidilite Family Office). Existing investors such as the family offices of Ashok Wadhwa (Founder – Ambit Capital) & Yogesh Mahansaria also invested in the funding round, the firm said. Some entrepreneurs also participated in the funding round.
The firm will utilise the proceeds to further enhance its product offerings and scale up distribution.
