WASHINGTON, Aug. 20, 2019 /PRNewswire/ -- MPOWER
Financing, an innovative fintech company and provider of
educational loans to high-promise international and DACA students,
secured a $100 million loan facility
from Goldman Sachs, which brings its total loan financing capital
to $200 million.
The funds will finance MPOWER's fast-expanding portfolio of top
international student loans, and are in addition to the
$100 million raised last year from
Community Investment Management.
"We're excited to work with a mix of top commercial and
impact-focused investors to ensure that bright students from around
the world can fulfill their educational aspirations," said
Manu Smadja, MPOWER Financing CEO
and co-founder. "The number of international students coming to
North America has more than
doubled over the past decade, and with our borderless financing we
can enable even more bright minds to come."
"This summer has been transformational for MPOWER," added
Lana Lodge, SVP of Business
Operations at MPOWER Financing. "We've been honored by the industry
recognition received for our product and the acceleration in demand
for our loans. This partnership with Goldman Sachs puts us one step
closer to securitization of a new, global, impact-focused asset
class."
MPOWER Financing, headquartered in Washington, D.C., and with offices in
Bengaluru, New York City, and
Toronto, is a mission-driven
fintech company and provider of global educational loans. It is the
only student lender in the world that leverages both overseas and
domestic credit data, as well as future earning potential, to serve
high-promise international and DACA students. MPOWER Financing
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 Financing helps students build their credit
histories and provides them with personal finance education and
career support to help prepare for life after school. The team 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.
Contact:
Sasha Ramani
202-417-3800
sasha@mpowerfinancing.com
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SOURCE MPOWER Financing