MPOWER Financing partners Flutterwave to provide Student Loans for African students

MPOWER Financing partners Flutterwave to provide Student Loans for African students

MPOWER Financing, a social benefit corporation that helps international students access loans and scholarships in the US and Canada, has announced its partnership with Flutterwave, a tech-enabled global payment company focused on Africa, to offer seamless student loan application and payment for international students in Africa. 

MPOWER offers students admitted into any of its 350+ approved schools in the US or Canada fundings without co-signers, collateral, or credit history at a fixed rate that is secured by future earnings. 

According to Open Doors, there are nearly 400,000 students from Africa studying in the U.S. Nigeria makes up over half of this population and is the most rapidly growing population demographic in Africa. 

“As interest in obtaining an education in North America continues to rise throughout Africa, we are delighted to work with Flutterwave to make the entire process, from application to payments, easier for aspiring students,” said Manu Smadja, CEO of MPOWER Financing. “There is so much ingenuity happening on the continent, and being able to help promising students by equipping them with the tools needed for success is part of our mission. We are thrilled to partner with another organization that embodies our core beliefs.”

Founded by international students for international students, MPOWER Financing provides educational loans and scholarships that lack the complex eligibility requirements or the required fees. The company also offers immigration support to aid students to apply for visas, resources for students during and after school to gain employment, and job search preparations best suited for individual students.

Commenting on the partnership, Munya Chiura, Head of Growth, Rest of Africa at Flutterwave explained that the goal of Flutterwave aligns with MPOWER as both organizations are interested in expanding access to education.

“At Flutterwave, we are always looking for innovative client solutions that expand beyond payment technology.”

Flutterwave is a payment gateway company that provides a hustle-free and secure payment experience to banks and businesses in Africa, including Uber, Flywire, Booking.com, and Jumia. Founded in 2016, Flutterwave has become a global fast-growing company. The company has processed close to $2 billion in payments and 25 million transactions across over 33 African countries, including Nigeria, Uganda, Kenya, and South Africa.

“For talented students on the continent who might not have otherwise been aware that they can apply for funding with this unique student lending provider, they will enjoy a seamless payment experience through Flutterwave,” Munya Chiura added.

MPOWER Financing is headquartered in Washington D.C. and has a team of over 50 people, still expanding, from 5 different time zones. The company was rated Best Fintech to work for from 2018 through 2020 by the American Banker, and also Best International Student Loan in 2019. 

 

Sybil Fekurumoh

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