Funding round
MPOWER Financing Series A
MPOWER Financing, which works in international student loan services in Washington, raised $6.0M in a Series A round announced on 27 Oct 2016, led by Zephyr Management. 7 firms took part, 3 of them already investors. It is MPOWER Financing's first venture round on record.
$6.0M
Amount raised
Not disclosed
Post-money valuation
7
Investors
1 lead
Valuation
What this round says about the price
MPOWER Financing did not disclose a valuation in this round. It is MPOWER Financing's first venture round on record, 2 years after it was founded in 2014. It is 2.8% of the $216M MPOWER Financing has raised in the venture rounds on record. MPOWER Financing raised again 25 months later: a Series B round of $110M in Nov 2018.
MPOWER Financing's funding rounds
MPOWER Financing has 3 venture rounds on record and 5 other deals. This one is highlighted.
- Series A this round 27 Oct 2016, led by Zephyr Management $6.0M
- Debt not a venture round 14 Aug 2017 $100M
- Series B 27 Nov 2018, led by GrayMatters Capital and Community Investment Management $110M
- Debt not a venture round 19 Aug 2019, led by Goldman Sachs $100M
- Other not a venture round 9 Jun 2020 $9.0M
- Growth 13 Jul 2021 $100M
- Debt not a venture round 15 May 2023 $150M
- Debt not a venture round 12 May 2025 $313M
Investors
Who put money in
Zephyr Management led the round with 6 other firms. 1776 Ventures, Goal Structured Solutions and Village Capital had backed MPOWER Financing before.
Lead investor
- backs 7 venture-backed companies new investor
Also in the round
- 1776 Ventures existing investor
- Goal Structured Solutions existing investor
- backs 14 venture-backed companies existing investor
- backs 29 venture-backed companies new investor
- backs 15 venture-backed companies new investor
- backs 15 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
26 Series A rounds in Loans & Financing within a year either side disclosed an amount; the median was $5.0M, and this round was 1.2 times the median. The closest in time, other companies' Series A rounds in Loans & Financing:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Loans & Financing | 26 Oct 2016 | $6.3M | not disclosed | Sequoia India |
| Loans & Financing | 17 Oct 2016 | $3.5M | not disclosed | not named |
| Loans & Financing | 18 Nov 2016 | $15M | not disclosed | Andreessen Horowitz |
| Loans & Financing | 2 Nov 2016 | $5.0M | not disclosed | Globalive |
| Loans & Financing | 9 Sep 2016 | $1.9M | not disclosed | East Ventures |
| Funding Societies Loans & Financing | 11 Aug 2016 | $7.5M | not disclosed | Sequoia India |
| Octane Loans & Financing | 3 Aug 2016 | $6.3M | not disclosed | IA Ventures and Berenson & Company |
| Loans & Financing | 1 Dec 2016 | $4.0M | not disclosed | American Express Ventures |
Sources
Where this comes from
Reported by 1 source.
Questions
Frequently asked
How much did MPOWER Financing raise in its Series A round?
MPOWER Financing raised $6.0M in its Series A round, announced in Oct 2016.
Who led MPOWER Financing's Series A round?
Zephyr Management led it, with 1776 Ventures, Goal Structured Solutions, Village Capital, Dreamit Ventures and Fresco Capital and 1 more.
What was MPOWER Financing's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Loans & Financing?
26 Series A rounds in Loans & Financing within a year either side disclosed an amount; the median was $5.0M, and this round was 1.2 times the median.
Did MPOWER Financing raise again after this round?
Yes: a Series B round in Nov 2018 of $110M.