The funding will fuel the company’s mission to make a North American education accessible to high-promise students from around the world
WASHINGTON, DC –
Founded in 2014 by Emmanuel (Manu) Smadja, MPOWER Financing aims to democratize education by reducing financial barriers for high-promise students from around the world. MPOWER’s loans are approved instantly and are granted at competitive interest rates without requiring a cosigner or collateral. MPOWER additionally provides students with academic, financial and career guidance to position them for success both in school and after graduation.
“We’re delighted to be working with experienced investors who share our vision of empowering the brightest students from around the world,” said Smadja, Chief Executive Officer of MPOWER Financing. “The new funds will be used to directly support students, automate and scale our operations, and to grow our team. We look forward to supporting an even greater number of qualified students around the globe as they study in the U.S. and Canada.”
“As a Qingdao’er who did my master’s degree in the U.S., I remember clearly the challenges – but also the opportunities – that arise from an overseas education,” said Mario Zhang, Interim Head of China at MPOWER Financing. “At MPOWER, I am honored to help future generations of students like me to access the world’s top universities without financial pressure and to build bridges between East and West.”
The new funding is to work, one of the , and one of American Banker’s four years in a row. The team is backed by Zephyr Peacock, Breega, Potencia Ventures, Goal Solutions, Gray Matters Capital, Cometa, AI8, DreamIt, 1776, Village Capital, Fresco, K Street, and University Ventures.
About Tilden Park Capital Management:
Tilden Park Capital Management LP is a multi-strategy fixed-income-focused alternative asset manager headquartered in New York City. The firm concentrates primarily on structured products and mortgages, fixed income relative value and related corporate credit and equity strategies. Tilden Park is led by Chief Investment Officer Josh Birnbaum, who previously co-managed trading at Goldman Sachs’ Structured Products Group.
About King Street Capital Management:
King Street is a $20 billion global investment management firm founded in 1995 with offices in New York, London, Singapore, Tokyo and Charlottesville, VA. With over 25 years of experience as a global credit specialist, King Street employs a fundamental, research-intensive approach across multiple strategies, markets, industries and asset classes including an expanding lending platform.