Wonga Group Limited is made up of a number of international financial services businesses. We are best known for our Wonga short term loan product.
Every day, people around the world discover they need help with their finances to deal with unexpected expenses, but find they are ignored by traditional lenders. The closer we looked at the problem, and the more we understood the needs and the pressures faced by those who are cash and credit constrained, the more we realised a new, flexible solution was required.
So in 2007 we launched a lending service in the UK that people could access online, tailor to their needs and understand the cost of upfront. The concept proved popular and we went on to process millions of applications. We continue to trade in the UK as wonga.com, a trading style of WDFC UK Ltd - authorised and regulated by the Financial Conduct Authority under registration number 671454.
As we’ve matured as a business, we know we’ve made mistakes along the way. We believe we’ve learned from those mistakes and have compensated customers who were impacted by them. We have also responded by improving the way that we work, to do our best to ensure customers outcomes are always put first. In particular, we have strengthened our lending criteria and moved to a new decision engine to help ensure we only lend to people we believe can afford to repay.
Representative 1,509% APR
Where we work and what we do
Our products are designed to provide responsible solutions for the everyday financial needs of modern life, especially for people who are not well served by mainstream finance.
Wonga is a household name in the UK. We also help people manage their short term cash flow in South Africa, Canada, Poland and Spain.
Wonga reinvented short term, unsecured loans by giving applicants the ability to choose exactly how much cash they want to borrow and then showing a clear price based on the length of time the money is needed for.
Two of our principles are flexibility and transparency. We provide automated decisions to applicants based on the information they provide in the application, data from Credit Reference Agencies and other sources. All applicants are credit checked and need to pass stringent lending and affordability criteria.
Representative 1,509% APR
BillPay is a Berlin-based ecommerce business providing payment and credit services to retailers and consumers in Germany, Austria, Switzerland and the Netherlands.
It is a payments partner with a number of the largest e-commerce merchants in Europe across a broad range of segments, from travel and fashion to electronics and furniture.
BillPay’s services include PayLater, a simple checkout option based on low-cost instalment payments. Merchants receive money for sales without any risk of default, while shoppers can buy a product immediately, before spreading the cost over three months. Other BillPay services are payment by invoice and direct debit.