Wonga’s initial site gained immediate interest. The first transaction was made within 10 minutes of their virtual doors opening. This was when Errol Damelin, the proprietor of Wonga realised that he was on to a winner.
Operating from an office in London, the entrepreneur was providing a solution to a problem that individuals were actively searching for. Within a year, solutions to the value of over £20 million changed hands and after 18 months Wonga conducted over a million transactions. Over 90% of their customers are satisfied with wonga.com and they have no lack of investors eager to be part of this exciting venture.
Continue reading: Wired.co.uk by William Shaw