MPOWER Financing, a Washington, D.C.-based fintech platform for educational loans to high-promise international and DACA students, raised $9M in funding.
Backers included Breega, Potencia Ventures, AI8, Cometa, Zephyr-Peacock, 1776, Fresco Capital, 1994 LLC, and Goal Structured Solutions.
The company intends to use the funds to accelerate continued growth and its expansion into new value-added products and services for high-skilled immigrants in North America, including an international student loan refinancing solution.
Led by Manu Smadja, CEO and co-founder, MPOWER Financing is a mission-driven fintech company and provider of global educational loans, which leverages both overseas and domestic credit data, as well as future earning potential, to serve 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 $2B in loan application volume on its platform.