Washington-based finance company MPOWER Financing has secured $100 million in debt financing, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced Aug. 19 and financed by Goldman Sachs.
According to its Crunchbase profile, "MPOWER is the only U.S.-based lender offering student loans to international students studying in the U.S. or Canada without requiring a co-signer, collateral or U.S. credit history."
The startup has raised six previous funding rounds, including a $100 million debt financing round in 2018.
The round brings total funding raised by Washington companies in financial services over the past month to $112 million. The local financial services industry has seen 12 funding rounds over the past year, yielding a total of $350 million in venture funding.
In other local funding news, e-commerce company UrbanStems announced a $12 million Series B funding round on Aug. 15, led by Swan & Legend Venture Partners.
According to Crunchbase, "You can’t buy happiness, but you can send flowers, and that’s pretty much the same thing. That’s why we created UrbanStems — to make it easy, affordable and fun to make someone’s day with stunning bouquets and gifts."
Founded in 2014, the company has raised six previous rounds, including a $6 million Series A round in 2017.
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