MPOWER Financing, a fintech platform and provider of educational loans has announced that it recently raised $25M from Tilden Park Capital Management LP, a New York-based investment management firm.
“We’re humbled to be working with Tilden Park, and will substantially benefit from their capital markets and credit expertise, as well as their global investment experience,” said Manu Smadja, MPOWER Financing’s CEO and co-founder. “Tilden Park was attracted to MPOWER’s strong credit quality and social mission,” added Manu.
The funds come in addition to $9 million that MPOWER raised last year and 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.
The funds will also help MPOWER grow its team in Washington, DC, and Bangalore, India where it plans to hire 50+ employees this year across Engineering, Marketing, Operations, Underwriting, Analytics, HR, and Finance.
MPOWER Financing, headquartered in Washington, D.C., and with offices worldwide, is a fintech company and provider of global educational loans. It is a student lender and leverages both overseas and domestic credit data, as well as future earning potential, to serve international and DACA students. MPOWER Financing works with over 350 universities and colleges across the U.S. and Canada to provide financing to students from over 200 countries.
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.
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