This fintech’s mission is why it’s the best to work for
This fintech’s mission is why it’s the best to work for
Abstract
Mpower, the top company on American Banker's Best Places to Work in Fintech list for 2022, helps connect international students to the financing they need to attend college in the United States and Canada. The company has a secret sauce in its underwriting formula that allows it to offer loans on those attractive conditions, according to Mukul Gulati, a managing partner at the investment firm Zephyr Peacock, which began investing in Mpower in 2016."Traditional lenders in emerging markets make education loans based on collateral provided by parents of the student," Gulati said. "For students from low-income families, financing options are not available for this reason. Mpower has a unique approach to student lending in that they underwrite loans based on a unique algorithm that predicts a student's future earning potential." Mpower's staff members gathered in April to celebrate the anniversary of the company's founding. Mpower Mpower met a market demand that Zephyr Peacock identified in 2016 - international education loans. "Mpower is solving that need."Not only is the company "Making a difference in the lives of each student they help," he said, but it also gets "Fundamentally superior" returns on the individual loans it makes. Mpower employees give and receive feedback monthly, and the company has weekly all-hands meetings to help "Keep us aligned, connected and productive," Smadja said. "Mpower's international leadership team, their commitment to support employees, the energy and passion of the employees, and high employee retention were important factors in our decision" to invest, he said.