Debt financing
Student loan provider Mpower closes $150-M funding from Goldman Sachs
US- and India-based Fintech firm Mpower Financing has closed a USD 150 million debt funding from Goldman Sachs. The funding will be used to expand the company's growing portfolio of student loans issued to international and DACA (Deferred Action for Childhood Arrivals) students attending any of 400+ colleges and universities across the US and Canada. This financing facility accompanies another facility that Mpower closed with Deutsche Bank in 2022. Additionally, in 2021 the company raised USD 100 million in equity capital from a consortium of investors, including Tilden Park Capital Management and King Street Capital Management. Mpower Financing is a provider of global education loans. Its proprietary algorithm analyses overseas and domestic credit data as well as the future earning potential to serve promising international and DACA students. Mpower works with over 400 universities across the US and Canada to provide financing to students from over 200 countries.
From the Venture Intelligence PE-VC Deal Database: Between Oct-16 and Jul-21, Mpower Financing over $200-M in equity capital from Gray Matters Capital, Zephyr Peacock, Others. In Aug-19, it had raised USD 100 million (INR 711 crore) in debt from Goldman Sachs. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
Want to receive such news items in your inbox? Click Here to sign up for a trial.
