The Washington-based FinTech company MPOWER announced that Goldman Sachs helped it secure a USD 150 million revolving asset-backed warehouse facility. The FinTech provides non-co-signed loans to students across the world.
The company said that with the most recent funding, more students will be able to access the student loans provided to them for more than 400 colleges and universities across the United States and Canada. In 2022, the FinTech had raised money from Deutsche Bank.
In addition, a group of investors that included Tilden Park Capital Management and King Street Capital Management gave it USD 100 million in equity funding in 2021.
