MPOWER Financing, a Washington, DC-based fintech platform and provider of education loans to high-promise students around the world, raised an equity investment of $100m.
Backers included Tilden Park Capital Management, ETS Strategic Capital on behalf of ETS, King Street Capital Management, Drakes Landing Associates, and Pennington Alternative Income Management.
Founded in 2014 by Emmanuel (Manu) Smadja, a McKinsey and Capital One alumnus, MPOWER Financing provides a financial platform for students aspiring to study in the U.S. and Canada. The platform uses a proprietary algorithm to analyze overseas and domestic credit data and future earning potential to serve high-promise international and DACA students. Loans are approved instantly and are granted at competitive interest rates without requiring a cosigner or collateral.
The company, which works with over 350 top universities across the U.S. and Canada to provide financing to students from 200+ countries, has offices worldwide.