GrayQuest, an education-focused fintech company, has raised $1.2 million in pre-series A funding round led by Foundation Holdings, a strategic global investment firm to increase access to affordable education in India. Mahansaria Family Office, Jeejeebhoy Family Office, Ambit Capital founder Ashok Wadhwa’s Family Office, fintech lending company SMECorner founder Samir Bhatia and angel investor Rohit Dhoot amongst others also participated in the round. GrayQuest enables parents to pay their annual education fees in up to 12 monthly instalments, instead of quarterly or annual payments, without incurring any extra cost. Additionally, parents and students paying through the platform get access to a student-focused privilege program and complimentary insurance protection for their lifetime education fees, said the company in a press note.