Company Directory / Wdfc Uk Limited (wonga.com)

Business Description

“Wonga is a digital finance company. 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.

We continue to trade in the UK as wonga.com, a trading style of WDFC UK Ltd.

WONGA LOANS
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.

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.

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.

BILLPAY
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.

May 2016: Wonga Group full year results to December 31, 2015:
• Revenues declined to £77.3m (2014: £217.2m), … reduction in UK consumer lending volumes following the implementation of stricter lending criteria end 2014 and …. regulatory price cap.
• Operating costs fell to £125.5m (2014: £151.4m)
• Pre-tax loss of £80.2m (2014: £38.1m); post-tax loss of £76.5m (2014: £43.6m).
• Embedded good governance across the Group, including;
o … appointment of three Independent Directors.
o …recruitment of Group leadership team: General Counsel, CTO and Group HR Director.
o … new leadership in South Africa and Spain.
o Overhauled … approach to credit risk … risk decision engine and lending criteria.
o … developing Wonga’s product offer across the Group:
 new 3 month Flexi Loan in the UK,
 longer term product in Poland with plans to roll out in South Africa this year.
 Strong growth in BillPay driven by broader product offer.
 Improved relationships with key stakeholders …including UK debt charities
 BillPay became the first payments business in Germany to receive an operating licence from the financial regulator, BaFin."

Registered Address

C/O Grant Thornton Uk Llp 4 Hardman Square
Spinningfields
Manchester
M3 3EB

Contact Details

Previous Names

NamePeriod
WONGA.COM LIMITED 2007-09-18 - 2013-05-03

Key Data

Sector
8773 Consumer Finance
Company Number
06374235
Type
Private Limited Company
Company Age
12 years
Incorporated
September 18, 2007
Status
Administration
Nature of Business
64929 - Other credit granting n.e.c.
Year End
December 31
Accounts Due
September 30, 2018
Latest Accounts
December 31, 2016

News Feed