Wonga

lendingonline loans

STATUS: Closed
FOUNDING YEAR: 2007
LOCATION: United Kingdom
Last Update: 01/05/2020

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About

Wonga is an online payday lender that offers short-term personal cash loans to UK consumers. The company uses sophisticated risk and decisioning technology to make automated yet responsible lending decisions.

Focus

PRODUCTS & SERVICES

Online lending platform for short term loan. It helps people manage their short term cash flow."

REVENUE MODEL

The company follows interest based revenue model. It charges 0.8% interest a day.

MAIN CLIENTS

Onlian retail borrowers

COMMENT

Wonga product features of a new marketing campaign in its latest step to ensure that all lending is conducted responsibly and transparently, delivering the best outcomes for customers.

Traction

VALUATION / MARKET CAP:

$1.47 B in 2015

TRANSACTIONS VALUE:

$893 M

ACTIVE USERS:

0.0030

TRACTION COMMENT:

The company says it is agreed to write off the loans of 330,000 customers. (Aug. 2018)

People

FOUNDERS

Errol Damelin

Jonty Hurwitz

BOARD MEMBERS AND ADVISORS

Laurel Bowden

Josh Bell

Paul Madera

Jason Goodman

Glyn Britton

Meyer Malka

NUMBER OF EMPLOYEES

501-1000

INVESTORS:

83North

Accel Partners

Balderton Capital

Betfair Group

Dawn Capital

Greylock Partners

Holtzbrinck Ventures

Kreos Capital

LocalGlobe

Meritech Capital Partners

Oak Investment Partners

Wellcome Trust

Momentum

FUNDED

YES

TOTAL FUNDING

$158.55 M

DATE OF LAST FUNDING

Aug 2018

SEED CLOSED ON

Jan 2006

FUNDING SERIES

SERIES A  · $6 M  · May 2007

SERIES B  · $22.25 M  · Jun 2009

SERIES C  · $117.3 M  · Feb 2011

OTHERS  · $13 M · Aug 2018

LISTED

NO

BASICS

STATUS:

Closed

FOUNDING YEAR:

2007

LOCATION:

United Kingdom

Views:

293 VISITORS | 636 VIEWS
LATEST FUNDING ROUND

$159 M

TOTAL EMPLOYEES
501-1000

About

Wonga is an online payday lender that offers short-term personal cash loans to UK consumers. The company uses sophisticated risk and decisioning technology to make automated yet responsible lending decisions.

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive Slack community where you can engage in discussions with global industry experts!

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Momentum+
Traction+
People+
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