MPOWER Financing adds Nicole West and Erika Norwood, experts in consumer credit, education and impact investing to its board of directors

Nicole West, a seasoned fintech and education executive, has decades of experience in strategic leadership of global listed and emerging companies. His extensive experience in financial services, technology and global higher education, as well as his proven track record of leveraging technology to drive innovation and large-scale operations, will be an asset as MPOWER continues to grow rapidly globally.

“When I made the decision to join the board, what convinced me the most was the combination of MPOWER’s strong position to capitalize on this growing market opportunity, a strong sense of mission and investor and board composition reflecting a diversity of industry experience, professional expertise, and the MPOWER team and the stakeholders it serves,” said West. “This diversity of perspectives will help MPOWER to continue to grow and innovate.”

Erika Norwood, executive director of Gray Matters Capital, is also new to the MPOWER board. Norwood works to increase diversity and women’s leadership in the social sector, and brings her experience in overseeing the programming and grantmaking efforts of gray matter as well as education-related development programs through India.

“We have tremendous respect for the work that MPOWER Financing is doing globally to revolutionize student loans,” Norwood said. “The world is full of obvious things and for us, investing in MPOWER financing was a no-brainer. Many lenders talk about leveling the playing field so that quality education is accessible, but they actually do. We are honored to be a part of their impact and excited to see what happens next on their horizon.”

West and Norwood join external board members Mukul Gulati of Zephyr Peacock India and Ken Ruggiero of structured solutions of objectives. The board members have all been involved in the development of MPOWER prior to their appointment and will meet regularly with the MPOWER leadership team to align internal and external corporate initiatives.

With the addition of West and Norwood, MPOWER has reached an important milestone: gender parity among its external board members. This follows MPOWER’s progress towards achieving gender parity in its student base: over the past year, MPOWER has increased the percentage of students who are female to 47%. MPOWER also recently announced a promoting charity sales with Malala Fund to address the education pipeline challenges highlighted in its first social impact report.

The company’s recently announced partnership with Goldman Sachs for a $100 million The loan facility further brings it closer to the securitization of a new global and impact-oriented asset class. Learn more about MPOWER Plank and social impact initiatives on the MPOWER website.

MPOWER fundingwhose head office is at washington d.c.and with offices in Bangalore, New York Cityand Toronto, is a mission-driven fintech company and global education loan provider. It is the only student lender in the world that leverages both foreign and domestic credit data, as well as future earning potential, to serve high-potential international and DACA students. MPOWER Funding works with over 350 top universities and colleges across the United States and Canada to provide funding to students from over 200 countries. Since 2014, he has received more than $2 billion in credit application volume on its platform. MPOWER financing helps students build their credit history and provides them with personal finance training and career support to help them prepare for life after school. The team is backed by Zephyr Management, Goal Structured Solutions, Gray Matters Capital, Lloyd Crescendo Advisors, 1776, Village Capital, Potentia, Breega, VARIV, DreamIt, Fresco, Chilango, Common Sense Fund, K Street and University Ventures.

Contact: Sasha Ramani202-417-3800, [email protected]


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