MPOWER Financing and Flutterwave Partner to Promote Student Loans for International Students from Africa
WASHINGTON, January 20, 2022–(BUSINESS WIRE)–MPOWER Financing, a mission-driven fintech firm and the leading provider of education loans to high-promise international students in the United States and Canada, has partnered with Flutterwave, an Africa-focused global payments technology company, in order to make the student loan application and payment process seamless for international students from Africa. MPOWER works with more than 350 top universities across the U.S. and Canada to provide no-cosigner financing to students from 200+ countries, including many across Africa.
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MPOWER Financing and Flutterwave Partner (Graphic: Business Wire)
There are nearly 400,000 students from Africa studying at a university in the U.S., according to Open Doors. Nigeria makes up over half of this population and is the fastest growing population demographic in Africa.
“As interest in obtaining an education in North America continues to rise throughout Africa, we are delighted to work with Flutterwave in order to make the entire process, from application to payments, easier for aspiring students,” said Manu Smadja, CEO of MPOWER Financing. “There is so much ingenuity happening on the continent, and being able to help promising students by equipping them with the tools needed for success is part of our mission. We are thrilled to partner with another organization that embodies our core beliefs.”
“At Flutterwave, we are always looking for innovative client solutions that expand beyond payment technology,” said Munya Chiura, Head of Growth, Rest of Africa at Flutterwave. Our goal is aligned with that of MPOWER as both organizations are deeply passionate about expanding access to education. For talented students on the continent who might not have otherwise been aware that they can apply for funding with this unique student lending provider, they will enjoy a seamless payment experience through Flutterwave.”
About MPOWER Financing
MPOWER Financing, headquartered in Washington, D.C., and with offices worldwide, is a mission-driven fintech company and the leading provider of global education loans. It is the only student lender worldwide that uses a proprietary algorithm to analyze overseas and domestic credit data as well as future-earning potential to serve high-promise international and DACA students. MPOWER works with over 375 top universities across the U.S. and Canada to provide financing to students from 200+ countries. The MPOWER team, which consists heavily of former international students, helps build students’ credit histories and provides them with personal financial education and career support to prepare for life after school. MPOWER was named one of the best places to work, one of the best tech workplaces for diversity, and one of American Banker’s top fintech firms to work for four years in a row. The team is backed by Tilden Park Capital Management, King Street Capital Management, ETS Strategic Capital, Drakes Landing Associates, Pennington Alternative Income Management, Zephyr Peacock, Breega, Potencia Ventures, Goal Solutions, Gray Matters Capital, Cometa, AI8, DreamIt, 1776, Village Capital, Fresco, K Street, and University Ventures.
Flutterwave is a payments technology company that helps businesses all over the world expand their operations in Africa and other emerging markets through a platform that enables cross-border transactions via one API. Flutterwave has processed over 140M transactions worth over USD $9B to date and serves more than 290,000 businesses, including customers like Uber, Flywire, Booking.com, Facebook, etc. The company’s key advantage is international payment processing in 150 currencies and multiple payment modes including local and international cards, mobile wallets, bank transfers, Barter by Flutterwave, etc. Located in San Francisco, USA, and Lagos, Nigeria, Flutterwave has an infrastructure reach in over 33 African countries, including Nigeria, Uganda, Kenya, and South Africa. For more information on Flutterwave’s journey, please visit: www.flutterwave.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220120005026/en/
Kelly Ferraro, River North Communications