Who’s Getting Funded in DC?

Although the summer is just starting to heat up, a number of DC FinTech startups and private equity firms have already secured funds to propel their businesses into the second half of 2017. MPOWER Financing and FS Card Inc are two of DC’s hottest FinTech startups, just named to DCA Live’s Trending 40 Red Hot Companies. Meanwhile, DC Capital Partners and Acon Equity Partners just closed their second and fourth private equity funds respectively.

DC FinTech startup MPOWER Financing has secured $500,000 in financing from 1776’s venture fund. This round comes ahead of MPOWER’s planned Series B that will close later this summer. MPOWER’s mission is to remove financial barriers to higher-education, and it hopes to reach 100,000 students by 2017. MPOWER believes that financing should not be based on how wealthy a student’s family is or where a student comes from. Instead, they believe it’s all about the students’ future potential and their earning power post-graduation. MPOWER closed its $6 million Series A round in October, led by Zephyr Peacock, 1776, and Village Capital.


FS Card Inc

FS Card Inc just closed an $8 million round, newsletter Strictly VC reported on May 25. The DC FinTech startup is on a mission to deliver honest mainstream financial products to underserved consumers, enabling them to meet their everyday liquidity needs in a flexible and convenient way. In doing so, FS Card Inc promises customers upfront pricing, no hidden fees, and tools that help them use and build credit wisely. Its executive team includes Marla Blow, who spent 10 years at Capital One and also previously ran the credit card and payments division at the Consumer Financial Protection Bureau. The card itself has MasterCard branding and is designed to help consumers avoid the growing payday loan industry while also rebuilding their credit score.


dc capital partners

According to Fortune’s Term Sheet on May 25, Alexandria, Va.-based DC Capital Partners closed its second fund at $450 million. DC Capital Partners is a private equity investment firm headquartered in the nation’s capital that makes control equity investments in middle market companies that provide differentiated and innovative services and solutions in the Government Contracting, Engineering, and Construction Services. Their investment strategy emphasizes sectors that offer the most compelling growth opportunities for investment, such as Intelligence, Information Technology, Cyber Security, and Construction.



ACON Investments raised $1.07 billion for its fourth fund, ACON Equity Partners IV, on May 17. ACON is a middle-market private equity investment firm led by a cohesive team that has been investing together for over 20 years. They partner with management teams to create value through separate funds for investors across a wide range of industries in the U.S. and in Latin America. Founded in 1996, ACON is responsible for managing approximately $5.5 billion of assets with a diverse portfolio of companies spanning over 60 investments, including financial services firms InverCap and Credivalores.

And want to learn about other startups disrupting the financial services industry? Discover more @ FinTech Nation.


Author: James Russo

James Russo is a digital product manager with a passion for social entrepreneurship and transforming the financial services industry through design and technology.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s