A Handbook of UK Venture Capital Innovation - BVCA admin ...
A Handbook of UK Venture Capital Innovation - BVCA admin ...
A Handbook of UK Venture Capital Innovation - BVCA admin ...
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Wonga<br />
Nominated by Balderton <strong>Capital</strong> Management<br />
Dawn <strong>Capital</strong><br />
Wonga is an online lender and one <strong>of</strong> the <strong>UK</strong>’s most innovative credit businesses.<br />
The company is different from other online lenders because its risk and decision<br />
engine means the application and approval process takes just minutes to complete.<br />
Wonga is a flexible short-term lender, allowing applicants to choose exactly how<br />
much cash they want to borrow and for how many days they need it. Wonga<br />
customers needn’t borrow a fixed sum they might not require or pay interest for<br />
any longer than necessary. Wonga <strong>of</strong>fers short term loans <strong>of</strong> between five days and<br />
a month and makes a pr<strong>of</strong>it when customers repay, not by continually extending a<br />
growing line <strong>of</strong> credit.<br />
The company, based in London, launched its first website in October 2007.<br />
Key Management Errol Damelin Chief Executive Officer<br />
Get in Touch errol.damelin@wonga.com<br />
Website www.wonga.com<br />
t: +44 (0)20 7420 1800 e: bvca@bvca.co.uk w: bvca.co.uk<br />
DIgITAL<br />
47
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