A Competition Commission inquiry into the short-term loans industry and recent comments by the Archbishop of Canterbury have put Wonga in the news. The firm’s credit assessment software has provided more than a million consumers and small businesses across three continents with short-term loans. Wonga was founded in 2006 by chief executive Errol Damelin, 44, and its turnover reached £309.3m in 2012.
This profile reflects the company at time of publication and does not reflect any changes that may have subsequently occurred. Fast Track and its sponsors do not endorse, guarantee or recommend investment in any of the companies.