Tagged: wonga

Wonga: A Post Mortem

Wonga enjoyed a meteoric rise to fame. The company achieved £300 million of revenue in 2012, just six years after it was founded. Managing growth of this nature is enormously challenging and one doesn’t need to look far to spot similar issues at other warp… Read More

Online PayDay Lender Wonga Goes Into Administration

UK online lender Wonga has entered into the process of administration. According to a note provided by the Financial Conduct Authority, Wonga and its affiliates have decided to pursue bankruptcy proceedings and have enlisted the assistance of Grant Thornton whois  in the process of being appointed… Read More

Payment Provider Klarna Purchases BillPay

Klarna, one of Europe’s leading payment providers, has acquired Berlin-based BillPay thus expanding its reach in Europe. BillPay operates in Germany, Austria, and Switzerland. Klarna works with 65,000 merchants to offer payment solutions to more than 45 million users in Europe and North America. BillPay was… Read More

Wonga To Make Significant Changes To Business Operations Following FCA Rebuke

In a public statement by the Financial Conduct  Authority, Wonga has entered into an agreement, known as a voluntary requirement (VREQ), with the FCA that requires it to make significant changes to its business immediately.  Wonga is a payday loan operator in the UK that… Read More