Funding round
MPOWER Financing Series B
MPOWER Financing, which works in international student loan services in Washington, raised $110M in a Series B round announced on 27 Nov 2018, led by GrayMatters Capital and Community Investment Management. 13 firms took part. It is MPOWER Financing's second venture round on record; the one before was a Series A in Oct 2016.
$110M
Amount raised
Not disclosed
Post-money valuation
13
Investors
2 leads
Valuation
What this round says about the price
MPOWER Financing did not disclose a valuation in this round. It came 25 months after MPOWER Financing's Series A. It is 51% of the $216M MPOWER Financing has raised in the venture rounds on record. MPOWER Financing raised again 32 months later: a Growth round of $100M in Jul 2021.
MPOWER Financing's funding rounds
MPOWER Financing has 3 venture rounds on record and 5 other deals. This one is highlighted.
- Series A 27 Oct 2016, led by Zephyr Management $6.0M
- Debt not a venture round 14 Aug 2017 $100M
- Series B this round 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
GrayMatters Capital and Community Investment Management led the round with 11 other firms.
Lead investors
- backs 3 venture-backed companies new investor
- backs 4 venture-backed companies new investor
Also in the round
- backs 45 venture-backed companies new investor
- Potencia Ventures new investor
- backs 15 venture-backed companies new investor
- backs 14 venture-backed companies new investor
- 1776 new investor
- backs 6 venture-backed companies new investor
- backs 15 venture-backed companies new investor
- backs 7 venture-backed companies new investor
- backs 7 venture-backed companies new investor
- Goal Structured Solutions new investor
- Lloyd Crescendo Advisors new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, scaling operations and working capital.
- Product development
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
29 Series B rounds in Loans & Financing within a year either side disclosed an amount; the median was $20M, and this round was 5.5 times the median. The closest in time, other companies' Series B rounds in Loans & Financing:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Loans & Financing | 30 Nov 2018 | $18M | not disclosed | Square Peg |
| Loans & Financing | 2 Oct 2018 | $25M | not disclosed | International Finance Corporation and Wyelands Capital |
| Knock Loans & Financing | 15 Jan 2019 | $400M | not disclosed | Foundry |
| Loans & Financing | 6 Sep 2018 | undisclosed | not disclosed | Djarum Group |
| Loans & Financing | 28 Aug 2018 | $20M | not disclosed | Blenheim Chalcot and Legal & General |
| Loans & Financing | 21 Aug 2018 | $18M | not disclosed | not named |
| Loans & Financing | 25 Feb 2019 | $15M | not disclosed | FMO |
| Loans & Financing | 1 Aug 2018 | undisclosed | not disclosed | SBI Holdings |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did MPOWER Financing raise in its Series B round?
MPOWER Financing raised $110M in its Series B round, announced in Nov 2018.
Who led MPOWER Financing's Series B round?
GrayMatters Capital and Community Investment Management led it, with Breega, Potencia Ventures, University Ventures, Village Capital and 1776 and 6 more.
What was MPOWER Financing's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Loans & Financing?
29 Series B rounds in Loans & Financing within a year either side disclosed an amount; the median was $20M, and this round was 5.5 times the median.
Did MPOWER Financing raise again after this round?
Yes: a Growth round in Jul 2021 of $100M.