Home Breaking News India-based Fintech startup MPOWER Financing raises $100 million funding from multiple investors

India-based Fintech startup MPOWER Financing raises $100 million funding from multiple investors

Fintech startup MPOWER Financing has raised $100 million in venture funding. The recent investment is in addition to $30 million MPOWER raised in the former months of 2021 from Tilden Park Capital Management, which also partook in the current venture and ETS Strategic Capital. The additional investors include Drakes Landing Associates, King Street Capital Management and Pennington Alternative Income Management.

About the Company

India-based startup MPOWER provides education loans for students wanting to study in North America. The startup intends to reduce financial constraints for scholarly students from India and other nations. The startup alleges that its loans are approved quickly and are given at a competitive rate of interest without needing collateral. Moreover, it equips students with scholastic, monetary and career guidance.

Headquartered in Washington, D.C. and having offices globally, MPOWER Financing operates with the top 350 multiversities across the U.S. and Canada to render financing to students from across 200 countries.

Bengaluru and New York-based Zephyr Peacock helped the startup establish MPOWER’s Bengaluru office and increase its presence in India as its initial investors. The organisation is backed by Breega, Gray Matters Capital, Potencia Ventures, Goal Solutions, Cometa, AI8, DreamIt, 1776, Fresco, Village Capital, K Street, and University Ventures.

What the CEO has to say

Chief Executive Officer Emmanuel (Manu) Smadja, MPOWER Financing, said, “The new investments will be used to promote students directly, automate and mount our operations, and improve our unit in Bengaluru. We look ahead to supporting an even larger number of adequate students around the globe as they study in the U.S. and Canada”.

What the Investors has to say

“We are eager to ally with MPOWER Financing as it operates a truly differentiated market model where it not only loans to students but also gives career direction and supports students throughout their mission,” said Chris Gamaitoni, Managing Director of Tilden Park Capital Management.

“The team’s mission and commitment to their students are inspiring. We are thrilled to support MPOWER Financing as it continues to expand its global reach and support even more students. We look forward to building on the company’s successes together,” Chris Gamaitoni, Managing Director of Tilden Park Capital Management, said.

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