MPOWER Financing, a Washington, DC-based provider of educational loans to high-promise international and DACA students, secured a $100m loan facility from Goldman Sachs.
This brings the company’s total loan financing capital to $200m, adding to the $100m raised last year from Community Investment Management.
The company intends to use the funds to finance its portfolio of loans.
Led by Manu Smadja, CEO and co-founder, MPOWER Financing is a mission-driven fintech company that leverages both overseas and domestic credit data, as well as future earning potential, to provide global educational loans to high-promise international and DACA students.
The company works with over 350 top universities and colleges across the U.S. and Canada to provide financing to students from over 200 countries. Since 2014, it has received over $1B in loan application volume on its platform.
MPOWER is backed by Zephyr Management, Goal Structured Solutions, Gray Matters Capital, Lloyd Crescendo Advisors, 1776, Village Capital, Potentia, Breega, VARIV, DreamIt, Fresco, Chilango, Common Sense Fund, K Street, and University Ventures.
The company also has offices in Bengaluru, New York City, and Toronto.