Mumbai, Jan 9 (PTI) Fintech firm Grayquest on Thursday announced Rs 80 crore fundraising from IIFL Fintech Fund, Ranjan Pai's family office Claypond Capital and existing investor Pravega Ventures.

The Series B funding will be utilised to enhance the technology platform and scale its distribution to educational institutions across the country, as per a statement.

Also Read | Kolkata Fatafat Result Today: Kolkata FF Result for January 9, 2025 Declared, Check Winning Numbers and Result Chart of Satta Matka-Type Lottery Game.

The entity is focused on building digital financial solutions for India's education ecosystem by offering a unified payment platform to enable them to digitise and boost their fee collection.

Over 6,500 educational institutions, including universities and K12 centres, in the country use its systems for fee collection.

Also Read | Shillong Teer Results Today, January 9 2025: Winning Numbers, Result Chart for Shillong Morning Teer, Shillong Night Teer, Khanapara Teer, Juwai Teer and Jowai Ladrymbai.

IIFL Fintech Fund's manager Mehekka Oberoi said over USD 120 billion is collected by educational institutions annually, but there has been little innovation in recent decades.

"Grayquest is revolutionising the education financing landscape, making it easier for families and institutions to manage payments with greater flexibility," a spokesperson for Pravega said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)