MPOWER Financing, a financial technology company, is revolutionizing the way international students access higher education funding in the United States and Canada. Founded in 2014, this Washington, D.C.-based firm, with an additional office in Bangalore, India, is breaking down barriers for students who face challenges with traditional loan eligibility due to their international status, lack of credit history, or absence of a cosigner.
Founders with a Vision
The inception of MPOWER Financing stems from the personal experiences of its founders, Manu Smadja and Michael Davis. Both encountered significant hurdles while financing their own education in the U.S. The two visionaries crossed paths in 2009 at INSEAD in Paris during their MBA programs and decided to transform their challenges into a solution for others. Their shared vision materialized into MPOWER Financing, which officially launched with Harvard as its first university partner.
Pioneering a New Lending Model
MPOWER Financing’s innovative lending model has enabled thousands of students to pursue their educational dreams. By offering loans without the need for a cosigner or credit history, the company has opened doors for many who might have otherwise found higher education out of reach.
Significant Growth and Backing
The company’s groundbreaking approach has attracted substantial financial backing. As of 2021, MPOWER Financing has raised $160 million in equity funding and secured $200 million in debt financing. Investors such as Goldman Sachs, King Street Capital Management, and Gray Matters Capital have placed their confidence in MPOWER’s mission and business model. MPOWER Financing continues to make significant strides in democratizing access to education, ensuring that talented students worldwide have the opportunity to achieve their academic and professional aspirations.