India: Student loan provider MPOWER raises $25m from Tilden Park

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Bengaluru and Washington DC-based MPOWER Financing, which provides educational loans to international and DACA students, has raised $25 million in funding from Tilden Park Capital Management, a New York-based investment management firm.

The funds come in addition to the $9 million MPOWER raised last year from a clutch of investors including Breega, Potencia Ventures, AI8, Cometa, Zephyr-Peacock, 1776, Fresco Capital, 1994 LLC, and Goal Structured Solutions.

The funding proceeds will be invested in further automating MPOWER’s digital loan platform, which leverages proprietary underwriting technology to provide a loan decision to students within minutes, per a company statement.

MPOWER will also grow its team in Washington, DC, and Bangalore, where it plans to hire over 50 employees this year across engineering, marketing, operations, underwriting, analytics, HR, and finance, the statement added.

“We will benefit from Tilden Park’s capital markets and credit expertise, as well as their global investment experience,” said Manu Smadja, MPOWER Financing’s CEO and co-founder.

MPOWER Financing helps students build their credit histories and provides them with personal finance education and career support to help prepare for life after school. The platform claims to be working with over 350 top universities and colleges across the U.S. and Canada to provide financing to students from over 200 countries.

The company said it has received over $2 billion in loan application volume on its platform since 2014.

Some of the Indian startups operating in the education financing space Eduvanz, Leap Finance, Indian School Finance Company (ISFC), Avanse, and Propelld.

Last August, ISFC raised $30 million in a mix of equity and debt from existing investor Gray Matters Capital, with participation from other partner NBFCs including InCred, U GRO, and Profectus Capital.

The same month, Eduvanz had raised $5 million in Series A funding, led by Sequoia India. Existing investor Unitus had also participated in the startup’s financing round.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.