Education Platform MPOWER Financing raises $100 million from Tilden Park Capital Management & Others
MPOWER Financing, which provides education loans to North American students, has raised $100 million in venture capital.
MPOWER previously received $30 million in funding from Tilden Park Capital Management, which also participated in the current round, and ETS Strategic Capital earlier this year.
King Street Capital Management, Drakes Landing Associates, and Pennington Alternative Income Management are among the other investors in the current round.
According to MPOWER, a US-based startup with an India office in Bengaluru, the new round of funding will be used to scale its operations and grow the Bengaluru team, as well as provide more financial support to students.
“We look forward to supporting an even greater number of qualified students around the globe as they study in the US and Canada,” said Emmanuel Smadja, CEO and Co-founder, MPOWER Financing.
MPOWER, which was founded in 2014, aims to democratise education by lowering financial barriers for high-potential students from India and other countries. The startup claims that its loans are approved instantly and granted at competitive interest rates without the need for a co-signer or collateral, and that it also provides academic, financial, and career guidance to students.
MPOWER collaborates with over 350 top universities in the United States and Canada to provide financial aid to students from over 200 countries.
“MPOWER makes it possible for future generations of students to access the world’s top universities without any financial pressure, allowing them to focus on their academics and career,” says, Ashwini Kumar, General Manager of MPOWER’s India Office.
MPOWER employs a proprietary algorithm to analyse students' overseas and domestic credit data as well as their future earning potential.
“We 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,” said Chris Gamaitoni, Managing Director of Tilden Park Capital Management.
MPOWER previously received $30 million in funding from Tilden Park Capital Management, which also participated in the current round, and ETS Strategic Capital earlier this year.
King Street Capital Management, Drakes Landing Associates, and Pennington Alternative Income Management are among the other investors in the current round.
According to MPOWER, a US-based startup with an India office in Bengaluru, the new round of funding will be used to scale its operations and grow the Bengaluru team, as well as provide more financial support to students.
“We look forward to supporting an even greater number of qualified students around the globe as they study in the US and Canada,” said Emmanuel Smadja, CEO and Co-founder, MPOWER Financing.
MPOWER, which was founded in 2014, aims to democratise education by lowering financial barriers for high-potential students from India and other countries. The startup claims that its loans are approved instantly and granted at competitive interest rates without the need for a co-signer or collateral, and that it also provides academic, financial, and career guidance to students.
MPOWER collaborates with over 350 top universities in the United States and Canada to provide financial aid to students from over 200 countries.
“MPOWER makes it possible for future generations of students to access the world’s top universities without any financial pressure, allowing them to focus on their academics and career,” says, Ashwini Kumar, General Manager of MPOWER’s India Office.
MPOWER employs a proprietary algorithm to analyse students' overseas and domestic credit data as well as their future earning potential.
“We 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,” said Chris Gamaitoni, Managing Director of Tilden Park Capital Management.
