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MPOWER Financing closes $150m funding with Goldman Sachs

By Delisha Fernandes

May 16, 2023

  • DACA students
  • Education
  • Fintech news
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MPOWER- FinancingMPOWER Financing, a FinTech firm and provider of non-cosigned loans to students worldwide, announced that it recently closed a $150 million revolving asset-backed warehouse facility with Goldman Sachs.

The funding will expand MPOWER’s rapidly growing portfolio of student loans issued to international and DACA students attending one of 400+ leading colleges and universities across the US 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,” said Manu Smadja, CEO and Co-founder of MPOWER Financing. “91% of our students say that an MPOWER loan is instrumental to their ability to study abroad, so this funding will enable us to democratise access to higher education further.”

“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.

This financing facility accompanies another financing facility which MPOWER closed with Deutsche Bank AG, New York Branch in 2022. Additionally, in 2021 the company raised $100 million in equity capital from a consortium of investors, including Tilden Park Capital Management and King Street Capital Management.

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