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General Information

Websitewonga.com
Blogwonga.com/blog
Twitter@OfficialWonga
CategoryConsumer Web
Phone0871 288 5704
Emailcustomercare@wong...
Employees
Founded10/2007
DescriptionOnline Provider of Small Cash Advances

Offices

London, GBR
88 Crawford Street
London, W1H 2EJ, GBR

People

Founder & CEO
Co-Founder & CTO, Board Member
Board Member
Director of R&D
Director
Investor
Head of Product Delivery
Chairman & Investor
Show All People

Acquisitions

BillPay, 10/2013

Funding

TOTAL $145M
FUNDING TOTAL $145M
Series A, 6/2007
Balderton Capital
$6M
Series B, 6/2009
Accel Partners
Balderton Capital
Greylock Partners
Dawn Capital
$22.3M
Series C, 2/2011
Oak Investment Partners
Meritech Capital Partners
Wellcome Trust
£73M

Competitors

Service Providers

Accounting

Tags

Wonga

Wonga.com provides small, short-term cash advances to UK consumers online. The company uses sophisticated risk and decisioning technology to make automated yet responsible lending decisions.

Applicants can first determine the exact size and length of the cash advance required, using sliders on the Wonga home page, before submitting personal details online. Wonga offers cash deposits within minutes and loans are available up to £750, for between five and 30 days.

Wonga’s real-time and fully automated loan processing systems means more speed, convenience and flexibility than a typical online lender, or indeed any traditional form of credit.

The principle behind Wonga is that customers use the service on an occasional basis, in reaction to cash emergencies, rather than as an ongoing source of credit. In contrast to credit cards, traditional loans and bank overdrafts, the idea is that money is repaid quickly, thereby avoiding long-term debt.

The alternative for many consumers might be an unauthorised overdraft, which can incur significant bank charges, bounced cheques or a cash loan from friends or family.

The company’s technical innovation has been recognised by several award schemes such as Red Herring Europe 100 and the National Business Awards.

Recent Milestones

Videos

Above:

Errol Damelin, founder & CEO of Wonga.com

Added: 3/29/10

Screenshots

Wonga screenshot
Above: Wonga home page
Uploaded: 10/28/08

Traffic Analytics

Compete

Wonga

Sources

  1. E-Loan Specialist Wonga Buys BillPay, The PayPal Of Germany, To Move Deeper Into Payments (techcrunch.com) [edit]
  2. venturebeat.com [edit]
  3. TechCrunch (uk.techcrunch.com) [edit]
  4. Wonga Raises £73m In Series C Funding To Double-Down On Massive UK Growth (eu.techcrunch.com) [edit]
  5. Wonga.com launches (wonga.com) [edit]
    FT (ft.com) [edit]
    Paid Content post (mooquid.com) [edit]
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Last Edited 4/6/14

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