MPOWER Financing, a financial technology company that provides non-cosigned loans to students, closed on debt financing that propelled the firm’s overall lending capacity to more than $300 million. The funding included commitments from Deutsche Bank, Goldman Sachs and Värde Partners.
“We’re delighted to be working with best-in-class investment firms who share our vision of empowering the best and brightest from around the world,” Manu Smadja, CEO of MPOWER Financing, said. “This financing is critical for us as our growth continues to be exponential. More graduate students than ever before want to come study in North America, particularly in STEM and business fields. Meanwhile, the U.S. and Canada are in dire need of tech talent, business leaders and healthcare workers. Our growing financing capabilities are a reflection of these macro trends and our ability to execute in both growth and credit quality in this market.”
“These investors were impressed by our nine-year track record, steady credit quality through COVID and varying rate environments and ultimately by the quality of students we lend to: graduate students, primarily in STEM at top universities, who leave everything behind in their home countries to invest in their futures,” Christopher Zaki, head of capital markets at MPOWER Financing, said. “The portfolio also provides for natural diversification, as MPOWER supports students from around the world and offers returns that are uncorrelated with traditional asset classes.”
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