[Portfolio News] MPOWER Financing raises $25 million in funding from US’ Tilden Park
Zephyr Peacock invests in small and medium sized enterprises operating across financial services, food and agriculture, and infrastructure ancillaries sectors. The Fund identified education finance as a high growth sector and invested in MPOWER Financing, a provider of education loans to international students pursuing higher education in North America. MPOWER has raised $25 million from US-based investment management firm Tilden Park Capital Management.
Click here to read the full article on ‘The Economic Times’
Below is an excerpt from the post that first appeared on The Economic Times on 25 January 2021:
Mpower Financing, an education-loan provider to international students, has raised $25 million from US-based investment management firm Tilden Park Capital Management.
With this, the company has raised a total of $55 million in equity funding so far, including the $9 million it received from a clutch of investors including Breega, Potencia Ventures, AI8, Cometa, Zephyr-Peacock, 1776, Fresco Capital, 1994 LLC, and Goal Structured Solutions in June 2020.
“Tilden Park was attracted to Mpower Financing’s strong credit quality and social mission,” said Manu Smadja, co-founder and chief executive officer at Mpower Financing. “We’ll substantially benefit from their capital markets and credit expertise, as well as their global investment experience.”
The company plans to use the funds raised to invest in technology and automate its digital loan platform further, as well as for marketing and expanding its team in Bengaluru and Washington, DC. Mpower India general manager Ashwini Kumar told ETtech that the company plans to hire 55-60 people across verticals.
Started in 2014 by Smadja and Michael Davis, Mpower works with over 350 top universities and colleges across the US and Canada to provide financing to students from over 200 countries.
