Wonga’s staff are keen to put its solution much more comparable to bank overdrafts, rather than rival payday lenders.

Wonga’s staff are keen to put its solution much more comparable to bank overdrafts, rather than rival payday lenders.

“We think that our company is in sector on our very own,” Bowman states, in a cellar boardroom in the business’s head office in a house that is grand the side of Regent’s Park in main London, its white stucco gleaming when you look at the springtime sunlight. Among lots of prizes on display is just one naming Wonga.com as last 12 months’s fastest-growing electronic news business in European countries. “we come across ourselves being a technology that is internet first, and a finance business 2nd,” Bowman claims.

Staff state 1 million individuals go to the site and “hundreds of thousands” of loans are produced every month. The business’s return trebled between 2009 and 2010, to ВЈ73m return, and Errol Damelin, the co-founder and executive that is chief of, is reported to possess taken house ВЈ1.6m this past year. Read more »