“The pandemic has proven that schooling is a quickly altering trade and extra necessary than ever. MPOWER has what it takes to thrive on this new setting,” added Meng Xiong Kuok, Managing Associate of K3 Ventures.
The funds will gas MPOWER’s continued progress and its growth into new value-added services and products for high-skilled immigrants in North America, together with an worldwide pupil loan refinancing resolution.
“Two macro forces are making MPOWER’s work extra related at the moment than ever earlier than. For one, the Covid-19 pandemic has elevated the necessity for tight worldwide cooperation and knowledge-sharing. Worldwide college students are important bridges between international locations and their minds carry the long run options to at the moment’s world challenges.” mentioned Manu Smadja, MPOWER Financing CEO and co-founder. “Secondly, universities throughout North America are more and more combining on-line schooling with the standard on-campus expertise. These hybrid models have the potential to cut back general schooling prices, in flip making college accessible to a better variety of college students worldwide. Given worldwide college students are important to universities’ monetary well being, and lots of extra college students would come if tuition was extra accessible, it is a large alternative. I am very grateful for traders’ assist. MPOWER is honored to play a small half in enabling worldwide schooling at such a important time in historical past.”
MPOWER Financing, headquartered in Washington, D.C., and with places of work worldwide, is a mission-driven fintech firm and supplier of worldwide academic loans. It’s the solely pupil lender on the earth that leverages each abroad and home credit score information, in addition to future incomes potential, to serve high-promise worldwide and DACA college students. MPOWER Financing works with over 350 prime universities and schools throughout the U.S. and Canada to offer financing to college students from over 200 international locations. Since 2014, it has acquired over $2B in loan utility quantity on its platform. MPOWER Financing helps college students construct their credit score histories and supplies them with private finance schooling and profession assist to assist put together for all times after college.
SOURCE MPOWER Financing