GrayQuest Raises ₹80 Crore in Series B to Expand Education Payments Platform

• ByStartupStory     |    February 14, 2025

Mumbai-based fintech firm GrayQuest has raised ₹80 crore ($9.3 million) in a Series B funding round, securing investment from IIFL Fintech Fund, Claypond Capital (the family office of Dr. Ranjan Pai), and existing backer Pravega Ventures. The fresh capital will be used to enhance its technology platform, scale its distribution network, and strengthen its presence across educational institutions in India.

Founded seven years ago by Rishab Mehta, GrayQuest offers a unified…