What a small team did under strict lending-ad rules.
We did this in-house at MPOWER Financing, a student lender with borrowers in 50+ countries, and lived with the results. That was before we founded Rarecraft.
22.9×
Loan applications startedper year
Loan volumeUS dollars, per year
Growth in loan applications, 2018 to 2025, with loan volume close behind at 22.7×.
40,180loan applications started in 2025, up from 1,755 in 2018
$138.2Min loans in 2025, up from $6.1M in 2018
50+countries, reached by one small team
1,7552018
40,1802025
$6.1M2018
$138.2M2025
Our team at MPOWER Financing, before Rarecraft. Each chart shows the first and last year only.
~90%
Acquisition spendshare of loan volume
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Less acquisition spend per dollar lent, 2023 to 2025.
- Constraint
- Strict US lending-ad rules.
- What we did
- Moved budget to referrals, search, and ambassadors.
- Result
- Acquisition spend fell from about 10% to 1% of loan volume.
~10%2023
~1%2025
500+
Ambassadorspeople
Students and alumni in 39 countries, recommending a lender to their friends.
- Constraint
- Buyers in 50+ countries and one small team.
- What we did
- Built a peer network of students and alumni.
- Result
- From 40 ambassadors to 500+, 2023 to 2025.
402023
500+2025
21%
Application rateeligible leads who applied
Of eligible leads who joined a live Q&A applied, against 14% of eligible leads who didn’t.
- Constraint
- Wary buyers, many of them asking, "Is this a scam?"
- What we did
- Trustpilot reviews plus live Q&As with the team.
- Result
- Eligible leads who attended applied at 21%; those who didn’t, at 14%.
14%Did not attend
21%Attended Q&A
1.8×
Loan volume, on a budget that didn’t grow.
- Constraint
- A flat budget.
- What we did
- Cut paid-ad dependence and renegotiated partner and vendor terms.
- Result
- Qualified applications grew 2.3×, 2022 to 2023.
Our team at MPOWER Financing, before Rarecraft. Charts show the first and last year only.