MPOWER Financing Raises $150 Million In Financing Facility With Goldman Sachs The company said that the funding will be used to expand MPOWER's rapidly growing portfolio of student loans issued to international and DACA students attending one of over 400 leading colleges and universities across the U.S. and Canada

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Company handout

MPOWER Financing, a mission-driven fintech firm and a leading provider of non-cosigned loans to promising students from around the world, has closed a $150 million revolving asset-backed warehouse facility with Goldman Sachs. The company said that the funding will be used to expand MPOWER's rapidly growing portfolio of student loans issued to international and DACA students attending one of over 400 leading colleges and universities across the U.S. and Canada.

"We are thrilled that Goldman Sachs is supporting the MPOWER team as we contribute to the important mission of making higher education and socioeconomic mobility accessible to the millions of international and DACA students studying in North America. 91% of our students say that an MPOWER loan is instrumental to their ability to study abroad, so this funding will enable us to further democratize access to higher education," said Manu Smadja, CEO and co-founder of MPOWER Financing.

MPOWER Financing, headquartered in Washington, D.C., and with employees worldwide, is a mission- driven fintech company and the leading 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.

"Goldman Sachs has an established track record of raising and providing capital to innovative fintechs and we believe MPOWER's growth trajectory, portfolio performance and global ecosystem supporting students around the world aligns with previous relationships in the sector," said Christopher Zaki, head of capital markets at MPOWER Financing.

Wavy Line
Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.

Related Topics

Lifestyle

Inside The Enchanting World Of Bollywood Celebrity Wedding Films

The wedding videography industry in India has undergone a paradigm shift, compared to the way the videos were made in the 80s and 90s.

Leadership

5 Traits and Characteristics of Successful Entrepreneurs in 2023

Entrepreneurship has become the new trending topic in the business world. In 2023, the entrepreneurial world is expected to flourish more than ever, and it will take a certain set of skills to be a successful entrepreneur. This article highlights what it takes to be a successful entrepreneur in 2023.

Growing a Business

14 Easy Ways to Rank Your Website Higher on Google

Despite Google's algorithm and regular updates, you can quickly boost your website's ranking with these tips.

Technology

Towards a Responsible AI

Alongside revolutionizing different fields, AI carries with it several challenges and concerns that has given rise to the need for its regulation

Growing a Business

A Teen Turned His Roblox Side Hustle Into a Multimillion-Dollar Company — Now He's Working With Karlie Kloss and Elton John

Rush Bogin, an 18-year-old fashion designer, learned firsthand how finding market gaps and listening to customer feedback can bring major success.