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Here’s a timeline revealing the firm’s advancement, as well as how things have gone incorrect lately:
2006: providers started by Errol Damelin and Jonty Hurwitz
2007: Wonga launches beta form of their websites
July 2008: Whole release. By now the firm hires 37 staff members in London with a development employees through the Ukraine. Co-founder Damelin tells the protector that 50,000 people happened to be served during our very own experiment level and that he envisaged “to let many others during the further 12 months”.
December 2010: Sponsorship of brand new Year’s day tour brings in complaints. Campaigners, like work MP Stella Creasy, condemn commitment to let Wonga offer across birmingham move in exchange for purchasing all-night move.
January 2011: Stella Creasy requires limit on cost of credit. The Labour MP manages to protect a vote against precisely what she calls “legal finance pro players”. The resolution was denied but necessitates an amount cap manage.
Summer 2011: reviews begin to appear of struggling consumers; in October the Observer discusses how Wonga received lent income to a number of life on importance. Read more
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