GrayQuest Secures Rs 80 Crore in Series B to Transform Education Finance in India
GrayQuest, a fintech startup revolutionizing financial solutions for India’s education sector, has successfully secured Rs 80 crore ($9.3 million) in its Series B funding round. The funding was led by IIFL Fintech Fund and Claypond Capital, the family office of Dr. Ranjan Pai, alongside existing investor Pravega Ventures. This infusion of capital marks a significant milestone for the company as it looks to deepen its impact on the education ecosystem.
Founded with the vision of streamlining fee payments for educational institutions, GrayQuest has steadily transformed its innovative approach into an indispensable solution for schools, colleges, and other educational entities. The company plans to channel the new funds into enhancing its technology platform, ensuring a seamless user experience, and expanding its reach to a broader network of educational institutions across India.
GrayQuest Series B Funding Round
Rishab Mehta, Founder and CEO of GrayQuest, reflected on the journey, describing the transition from pitching a novel fee-collection method to becoming a trusted partner for institutions nationwide. “This journey has been about more than just creating a product; it’s been about building a solution that integrates deeply with the needs of the education ecosystem. We are grateful for the trust and support of our investors, who share our vision of creating meaningful change in this space,” he said.
Meanwhile, the latest funding highlights the growing confidence in GrayQuest’s mission and the company’s ability to address a critical need in the education sector. With a focus on leveraging technology to simplify financial transactions, GrayQuest aims to provide greater convenience for parents and institutions alike. By improving its platform and scaling operations, the company is well-positioned to drive substantial growth and innovation in how educational fees are managed.
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As it looks to the future, GrayQuest remains committed to its goal of making financial processes in education simpler, more transparent, and more efficient. With the backing of prominent investors and a clear roadmap, the company is set to strengthen its leadership in this niche, ultimately benefiting millions of students and their families across the country.
