Series C funding for the short loans startup


Wonga, the London based short loans startup, has raised £73 million in Series C funding for its expansion. The recent funding round was led by Oak Investment Partners. With the fresh capital, the young company plans to expand even further within the UK. Wonga provides small, short-term cash advances to consumers online. The startup uses sophisticated risk and decisioning technology to make automated yet responsible lending decisions. Wonga was founded in 2007 by Errol Damelin and Jonty Hurwitz. By the way – check out their new TV-ad here: