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Education loan platform MPOWER raises $100 million from Tilden Park
July 20, 2021 @ 10:25 pm By Priyanka Pani
MPOWER Financing, a global education loan provider, has raised an equity investment of US$100 million. The new funding is in addition to the US$30 million MPOWER raised earlier this year from Tilden Park Capital Management that also participated in the current round along with ETS Strategic Capital. Other investors were King Street Capital Management, Drakes Landing Associates, and Pennington Alternative Income Management.
Founded in 2014 by Emmanuel (Manu) Smadja, MPOWER Financing aims to democratize education by reducing financial barriers for students wanting to go for higher studies worldwide. MPOWER provides instant loans at competitive interest rates without requiring a cosigner or collateral. It also provides students with academic, financial, and career guidance.
MPOWER Financing platform secures Ksh 10 billion in Equity to support overseas education hapakenya.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hapakenya.com Daily Mail and Mail on Sunday newspapers.
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.