MPOWER financing raises USD100M from Goldman Sachs

MPOWER financing raises USD100M from Goldman Sachs

Agency News

Mumbai, Aug 19: MPOWER Financing, an innovative fintech company and provider of international education loans to high-potential students from India and other emerging economies, secured a USD100 million loan facility from Goldman Sachs, which brings its total loan financing capital to USD200 million. The funds will finance MPOWER’s fast-expanding student base, of which India contributes the largest share, and are additional to the USD100 million that the firm raised last year from Community Investment Management.

The funding will allow MPOWER to help more Indian students pursue a university education in the US and Canada. ''This summer has been transformational for MPOWER,'' said Lana Lodge, SVP of Business Operations at MPOWER Financing. ''We’ve been honored by the industry recognition received for our product and the acceleration in demand for our loans. This partnership with Goldman Sachs puts us one step closer to securitization of a new, global, impact-focused asset class.''UNI