Wonga - Company Information on Wonga

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Headline: Cash On Demand

Website: http://www.wonga.com/

Blog: http://www.wonga.com/blog/

Wonga is a ground-breaking online lender based in London. We launched our first website in October 2007 and rapidly became one of the UK’s most innovative credit businesses. We're backed by major investors including Balderton Capital and our mission is to provide consumers with instant money whenever they need it - we call it cash on demand.

We are transforming the UK credit market by offering...More»

Address: 88 Crawford Street London W1H 2EJ United Kingdom Map it »

Email: customercare@wonga.com

Founded: 10/2007

Industry: Consumer & Business Services

Sub-Industry: Financial

Legal Structure: Corporation

Ownership: Private

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Management

Board of Directors

Date	Type	Capital Amount	Post-Money Valuation	Investors
06/2007	Series A	6M	Unknown	Balderton Capital
02/2011	Series C	117M	Unknown	Oak Investment Partners

Name:	Wonga cash on demand
Product URL:	http://www.wonga.com/
Date Launched:	10/2007
Description:	We have no interest (no pun intended) in keeping you in debt. Now that may sound like a strange statement for any lender to make, but Wonga provides short term loans for up to 30 days. We want you to repay your loan quickly and, unlike many traditional sources of credit, we're not about keeping payments coming in for as long as possible. Our service is designed to put you in control of your cashflow, for those times when an unexpected expense catches you by surprise. Flexible loan Unlike most lenders, we enable you to choose exactly how much money you want to borrow - down to the last pound - and for exactly how many days. We don't force you to borrow a fixed sum you might not need, nor do you accrue interest for longer than necessary. The amount you apply for and the length of the loan naturally affect the cost of repayment too, so you can make adjustments until you're happy with all elements of your application. Short-term cash In contrast to a credit card or overdraft, you must commit to settling your Wonga loan quickly. You can then use our service again next time you need short-term cash on demand. We make money when you repay us on time, not by continually extending a growing line of credit to you. Wonga doesn't endlessly roll your balance from month to month and no further funds are made available until your existing loan is repaid.
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