Wonga, the London-based short loans startup, has raised £73 million in Series C funding for its continued expansion (Update – December 2022: The startup seems to be no longer in business and we therefore deactivated the link).
Wonga was founded in 2007 by Errol Damelin and Jonty Hurwitz. With the fresh capital from this round, which was led by Oak Investment Partners, the young company plans to expand even further within the UK.
The fintech company provides small, short-term cash advances to consumers online. The startup uses sophisticated risk technology to make automated, yet responsible, lending decisions.
By the way, you can check out their TV-ad here:
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