GreyQuest, 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, Telma Family Office and Apoorva Parekh (Pidilite Family Office). The firm said that existing investors such as the family offices of Ashok Wadhwa (Founder – Ambit Capital) and Yogesh Mahansaria have also invested in the funding round. Some entrepreneurs also participated in the funding round.
The firm will use the proceeds to further expand its product offering and increase distribution.