MPOWER Financing raises a $25M investment round to increase educational access for International and DACA students
The funds will help automate the platform and team growth as MPOWER funds thousands more international and DACA students at over 350 universities North America
WASHINGTON, January 26, 2021 / CNW / – MPOWER Financing, an innovative fintech platform and the leading provider of educational loans to promising international and DACA students, announced that it has recently been inducted $ 25 million from Tilden Park Capital Management LP, a new York-based investment management firm.
The funds will support platform automation and team growth as MPOWER funds thousands more international and DACA students at over 350 universities in North America
MPOWER is honored to support international students at this critical time in history
“We are humble to partner with Tilden Park and will benefit significantly from their capital markets and credit expertise, as well as their global investment experience,” he said Manu Smadja, CEO and co-founder of MPOWER Financing. “Tilden Park was drawn to MPOWER’s strong credit quality and social mission,” added Manu.
The funds are added $ 9 million This MPOWER was raised last year and is being invested in further automating MPOWER’s digital credit platform, which uses proprietary drawing technology to enable students to make a credit decision in minutes. The funds will also help MPOWER expand its team Washington, DC, and Bangalore, India This year more than 50 employees are to be hired in the areas of engineering, marketing, operations, underwriting, analytics, HR and finance.
MPOWER was recognized as one of the best employers Washington, DC, one of the best diversity tech jobs and one of American Banker’s best fintech companies, operating for the third year in a row. The MPOWER team, which consists mostly of international students, is directly related to the challenges that international students are facing due to the Covid and rapidly changing immigration policy. The company is honored to support international students at this critical time in history.
MPOWER Financing with headquarters in Washington, DCand with offices around the world is a mission-oriented fintech company and provider of global education loans. It is the only student lender in the world using both foreign and domestic credit data, as well as future earnings potential, to serve promising international and DACA students. MPOWER Financing works with over 350 leading universities and colleges in the United States and the United States Canada Funding from students from over 200 countries. Since 2014 it has received over $ 2B in the loan application volume on its platform. MPOWER Financing helps students build their creditworthiness and provides them with personal financial education and career support to prepare for life after school.
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Tilden Park Capital Management LP is a fixed income alternative asset manager headquartered in New York City. The company primarily focuses on structured products and mortgages, the relative value of fixed income securities and related corporate credit and equity strategies. Tilden Park is led by the Chief Investment Officer Josh Birnbaum, who previously co-managed trading at Goldman Sachs’ Structured Products Group.
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SOURCE MPOWER funding
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