Wish Sport is a campaign set up by the Newcastle Chronicle and Wonga that hopes to give something back to local sports and community clubs in the Tyneside region. Up for grabs is the chance to take home a slice of £30,000. The money can then be put towards a variety of things including buying new kit, refurbishing a clubhouse or improving sports facilities. The campaign is part of an ongoing commitment from Wonga to invest in grassroots sports in the area. One local Irish dancing school is calling on readers of the Chronicle to help them win some of the cash prize by collecting tokens on their behalf.
Wonga CEO Errol Damelin has called for better regulation of the consumer lending sector and of the wider financial services industry within the United Kingdom. The Office of Fair Trading (OFT) is currently responsible for regulating the industry. However, from 2014, responsibility for consumer lending companies will move to the Financial Conduct Authority (FCA), a change Errol Damelin welcomes.
Tougher regulation will mean that the industry can move forward and enable Wonga and other likeminded companies to continue innovating the world of digital finance.
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Dawn Capital has announced it has raised in excess of GBP63 million during the first close of its Capital II fund. Those contributing to the fund include the Future Technologies Fund in the UK and the European Investment Fund. Dawn Capital, whose existing portfolio includes Wonga.com and Mimecast, will use the fund for investment in new technology ventures in both Europe and Great Britain The recent first close was successful in a large part because of the firm's portfolio and the success of companies such as Wonga, which was founded by Errol Damelin in 2007 and that has gone on to become one of the world’s most innovative providers of short term financial solutions.