MPOWER Financing Launches $100 Million Debt Funding Round

Career Climbers / 15th August 2017

MPOWER Financing, an innovative fintech company and provider of educational loans to high-potential, international students, has launched a $100 million debt financing round to meet its growing pipeline of loan applications.

According to Manu Smadja, MPOWER Financing CEO and co-founder, “We are seeing tremendous demand for our unique lending product which removes financial barriers to higher education for top international students. The company’s loan book has been growing at a rate of more than 30 percent on a month-over-month basis.”

MPOWER Financing also announced that Mike Davis, the company’s co-founder, has assumed the position of chief investment officer, replacing Alonso Garza, who will become a member of the company’s board of advisors and will serve as consultant for LATAM business and capital development out of Mexico City.

In taking over as chief investment officer, Mike brings a wealth of experience in financial services and private equity, having been the architect of MPOWER Financing’s successful equity raises and playing a key role in MPOWER Financing’s initial debt financing deal with GS2. He is intimately familiar with all aspects of MPOWER Financing’s business, and is working closely with Garza to ensure a seamless transition. Davis will be based in MPOWER Financing’s new capital markets office located at 25 Broadway in New York City’s financial district.

Since its founding in 2014, MPOWER Financing has raised $34.5 million in debt and equity capital from investors including Zephyr, Village Capital, GS2, VARIV Capital, Fresco Capital, 1776, Ruppert International, University Ventures, Dreamit, Chilango Ventures, Panther Angels and Baltimore Angels.

You May Also Like

Successfully Navigating External Dynamics as a First-Time CEO

Career Climbers / 8th July 2024

According to the Harvard Business Review, two out of five CEOs fail in their first eighteen months, and it’s not their expertise or experience to blame; it’s their people skills,...

Winning the Game of Boardroom Chess

Entrepreneurs / 3rd July 2024

How subtle, seemingly innocuous actions can shift the balance of power in your favour It is broadly understood that bold, expansive postures and gestures convey power and credibility. But how often have...