MPOWER Financing boosts lending capacity to over $300m with fresh debt funding
US-based fintech MPOWER Financing has secured new debt financing from Deutsche Bank, Goldman Sachs and Värde Partners as it looks to expand its international student loan portfolio.
Student lender MPOWER secures new debt financing
While the company has not confirmed the total amount received, it does say the fresh financing will boost its lending capacity to over $300 million, enabling it to issue more loans to international students attending colleges and universities across the US and Canada.
In May this year, the company announced it had secured a $150 million loan facility provided by Goldman Sachs to sit alongside a previous financing facility that the company set up with Deutsche Bank’s New York branch in 2022.
“More graduate students than ever before want to come study in North America, particularly in STEM and business fields,” explains Manu Smadja, CEO of MPOWER Financing. “Meanwhile, the US and Canada are in dire need of tech talent, business leaders, and healthcare workers.”
Smadja adds that the latest financing boost is “critical” for the firm as it continues to experience “exponential” growth.
Headquartered in Washington DC, MPOWER Financing’s proprietary lending algorithm analyses overseas and domestic credit data as well as future earning potential to hand out loans to international students. It currently works with over 400 universities in the US and Canada and provides financing to students from over 200 countries.
