Fintech: MPOWER Financing Wraps US$150M Funding From Goldman Sachs For Loans To International Students.
In 2022, both the U.S. and Canada reached record levels of enrollment for new international students, helping to rapidly grow the MPOWER Financing loan book.
MPOWER Financing, a mission-driven fintech firm, has closed a $150 million revolving asset-backed warehouse facility with Goldman Sachs (NYSE: GS). The funding will be used to expand their portfolio of student loans for international and DACA students studying in the U.S. and Canada.
MPOWER aims to make higher education accessible and democratize access to it. The company has previously secured financing from Deutsche Bank AG and raised $100 million in equity capital from various investors.
Furthermore, during 2021, MPOWER Financing secured $100 million in equity capital from a group of investors that included Tilden Park Capital Management and King Street Capital Management. (MPOWER Financing)
In 2022, both the U.S. and Canada achieved record levels of enrollment for new international students.
MPOWER works with over 400 universities, providing personalized financial education and career support to students from over 200 countries. To cater to talented international and DACA students, MPOWER Financing utilizes its exclusive algorithm, which assesses both international and domestic credit information, along with projected income prospects.
Related Story: UK-Based Prodigy Finance Lands $750M To Make Student Loans
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