MPOWER Financing, a Washington, DC-based fintech firm and a provider of non-cosigned loans to promising students, received a $150M financing facility.
Goldman Sachs provided the financing.
The company intends to use the funds to expand its portfolio of student loans issued to international and DACA students attending one of 400+ leading colleges and universities across the U.S. and Canada.
Led by CEO Manu Smadja, MPOWER Financing is a mission-driven fintech company and a provider of global education loans. Its proprietary algorithm analyzes overseas and domestic credit data as well as future earning potential to serve promising international and DACA students. It works with over 400 universities across the U.S. and Canada to provide financing to students from over 200 countries.
This facility accompanies another financing facility which the company closed with Deutsche Bank AG, New YorkBranch in 2022. Additionally, in 2021, MPOWER raised $100 million in equity capital from a consortium of investors, including Tilden Park Capital Management and King Street Capital Management.
FinSMEs
08/05/2023