Students are back in school and the MPOWER team is busier than ever. Below are a few highlights from this past summer.
Building blocks are in place
Operations and partnerships are in place for MPOWER to digitally originate and service loans. We’re now also able to collect in over 180 countries!
1st Loan made
Our first loan went out to Julie, a Florida student who’s less than 2 years away from obtaining her bachelors degree.
We’ve closed an initial seed round
A dozen investors participated in our seed round and are fueling MPOWER’s future success.
The team is growing
In the last 2 months, we’ve recruited an interim CFO, 2 credit analytics experts, and 6 Georgetown Law interns!
Over the next few months, we will automate the front-end of our lending platform, refine our proprietary credit model, continue to raise loan capital, and strengthen partnerships with universities.
As always, we welcome your guidance and support as we pursue our mission of removing financial barriers to higher-education. If you know of anyone specifically we should be speaking with – university leadership, debt-side investors, or students that need financing – let us know by replying to this newsletter!
Chief Executive Officer
Student Loans. Crowdfunded. Global Empowerment.