{"id":121954,"date":"2021-07-17T13:00:00","date_gmt":"2021-07-17T13:00:00","guid":{"rendered":"https:\/\/icrowdnewswire.com\/?p=28923442892344"},"modified":"2021-07-17T13:00:00","modified_gmt":"2021-07-17T13:00:00","slug":"education-platform-mpower-financing-raises-100-million-in-equity-to-support-studying-abroad","status":"publish","type":"post","link":"https:\/\/ipsnews.net\/business\/2021\/07\/17\/education-platform-mpower-financing-raises-100-million-in-equity-to-support-studying-abroad\/","title":{"rendered":"Education Platform MPOWER Financing Raises $100 Million in Equity to Support Studying Abroad"},"content":{"rendered":"

The funding will fuel the company\u2019s mission to make a foreign education accessible to high-promise students from around the world<\/em><\/p>\n

WASHINGTON, DC, July 15, 2021<\/strong>: MPOWER Financing<\/a>, the leading provider<\/a> of education loans to high-promise students around the world, today announced that it has raised an equity investment of US$100 million. The funding underscores investors\u2019 confidence in MPOWER\u2019s position as the leading lender for students aspiring to study abroad.<\/p>\n

Founded in 2014 by Emmanuel (Manu) Smadja, MPOWER Financing aims to democratize education by reducing financial barriers for high-promise students from around the world. MPOWER\u2019s loans are approved instantly and are granted at competitive interest rates without requiring a cosigner or collateral. MPOWER additionally provides students with academic, financial and career guidance to position them for success both in school and after graduation.<\/p>\n

\u201cWe\u2019re delighted to be working with experienced investors who share our vision of empowering the brightest students from around the world,\u201d said Smadja, Chief Executive Officer of MPOWER Financing<\/strong>. \u201cThe new funds will be used to directly support students, automate and scale our operations, and to grow our team. We look forward to supporting an even greater number of qualified students around the globe as they study in the U.S. and Canada.\u201d<\/p>\n

\u201cAs a former international student myself, I recognize how difficult it is for students to find affordable financing options which don\u2019t require collateral or a cosigner,\u201d said Manolo Sanchez, former Chairman & CEO of BBVA Compass who joins MPOWER\u2019s Board of Directors.<\/strong> \u201cMPOWER makes it possible for future generations of students from Latin America and around the world to access the world\u2019s top universities without financial pressure, allowing them to focus on their academics and career.\u201d<\/p>\n

The new funding is in addition<\/a> to the US$30 million MPOWER raised earlier this year from Tilden Park Capital Management, which also participated in the current round, and ETS Strategic Capital on behalf of ETS, the world\u2019s largest non-profit educational assessment, research and measurement organization. Other investors in the current round include King Street Capital Management, Drakes Landing Associates, and Pennington Alternative Income Management.<\/p>\n

\u201cWe are excited to partner with MPOWER Financing as it operates a truly differentiated business model where it not only lends to students, but also offers career guidance and supports students throughout their journey,\u201d said Chris Gamaitoni, Managing Director of Tilden Park Capital Management<\/strong>. \u201cThe team\u2019s mission and commitment to their students are inspiring. We are thrilled to support MPOWER Financing as it continues to expand its global reach and support even more students. We look forward to building on the company\u2019s successes together.\u201d<\/p>\n

About MPOWER Financing:<\/u><\/strong><\/p>\n

MPOWER Financing<\/a>, headquartered in Washington, D.C. and with offices worldwide, is a mission-driven fintech company and the leading provider<\/a> of global education loans that do not require a cosigner. It is the only student lender worldwide that uses a proprietary algorithm to analyze overseas and domestic credit data and future earning potential to serve high-promise international and DACA students. MPOWER works with over 350 top universities across the U.S. and Canada to provide financing to students from 200+ countries. The MPOWER team, which consists heavily of former international students, helps build students\u2019 credit histories and provides them with personal financial education and career support to prepare for life after school. MPOWER was named one of the\u00a0best places<\/a>\u00a0to work, one of the\u00a0best tech workplaces for diversity<\/a>, and one of American Banker\u2019s\u00a0top fintech firms to work for<\/a>\u00a0four years in a row. The team is backed by Zephyr Peacock, Breega, Potencia Ventures, Goal Solutions, Gray Matters Capital, Cometa, AI8, DreamIt, 1776, Village Capital, Fresco, K Street, and University Ventures.<\/p>\n

About Tilden Park Capital Management:<\/strong><\/p>\n

Tilden Park Capital Management LP<\/a> is a multi-strategy fixed-income-focused alternative asset manager headquartered in New York City.\u00a0 The firm concentrates primarily on structured products and mortgages, fixed income relative value and related corporate credit and equity strategies.\u00a0 Tilden Park is led by Chief Investment Officer Josh Birnbaum, who previously co-managed trading at Goldman Sachs\u2019 Structured Products Group.<\/p>\n

About King Street Capital Management:<\/strong>\u00a0<\/em><\/p>\n

King Street<\/a> is a $20 billion global investment management firm founded in 1995 with offices in New York, London, Singapore, Tokyo and Charlottesville, VA. With over 25 years of experience as a global credit specialist, King Street employs a fundamental, research-intensive approach across multiple strategies, markets, industries and asset classes including an expanding lending platform.<\/p>\n

For more information:<\/strong><\/p>\n

Joy Dumandan<\/p>\n

Gutenberg<\/p>\n

joy@thegutenberg.com<\/a><\/p>\n

\"Education-Platform-MPOWER-Financing-Raises\"<\/p>\n

Source: Aw News Center \u2013 by AndeanWire<\/em><\/p>\n

\n

Contact Information:<\/h3>\n

Joy Dumandan
Gutenberg
joy@thegutenberg.com<\/p>\n<\/p>\n<\/div>\n

The post Education Platform MPOWER Financing Raises $100 Million in Equity to Support Studying Abroad<\/a> appeared first on Financial Market Brief<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The funding will fuel the company’s mission to make a foreign education accessible to high-promise students from around the world WASHINGTON, DC, July 15, 2021: MPOWER Financing, the leading provider of education loans to high-promise students around the world, today announced that it has raised an equity investment of US$100 million. The funding underscores investors’ […]<\/p>\n

The post Education Platform MPOWER Financing Raises $100 Million in Equity to Support Studying Abroad<\/a> appeared first on Financial Market Brief<\/a>.<\/p>\n

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