About us

Wonga is a slang term for cash or money, used in the UK and especially in London (“A whole lotta wonga”). From the Romany word wanger (coal) - coal was sometimes used as a casual term for money in England in the 18th and 19th centuries. In the Nguni languages, the word wonga means status, prestige, a treasure or an accolade and is often used as a name.

Our story

Wonga was founded in the UK in late 2006 by two South Africans who realised that the world needed better and more innovative services to help people with their money. Five years later, in 2012, we launched in South Africa. Since starting out, we've funded well over two million loans... and counting!

We understand that money can be stressful, even at the best of times. So it is our mission to solve people's short-term and urgent cash flow problems with a responsible, equally short-term solution. We aim to help open up cash flow when it's needed, not to constrain people with long-term credit. We're here to help. We're here to make things simpler.

Wonga is a registered Credit Provider and is regulated by the National Credit Act.

 

 

Introducing The Money Academy

 

Get your personal finances back on track with The Wonga Money AcademyFine-tune your financial confidence with this unique personal finance wellness program. At Wonga, we are all about helping people and this is why we launched The Money Academy to help you understand how money works. It will help you make informed choices when it comes to managing your money and making decisions that can affect your financial future.

Built around the four pillars of financial health; debt, saving, budgeting and investing, it’s an educational program consisting of fun and focused videos that will help you take control.

To get going, visit The Money Academy and learn about each financial pillar and how it affects your life. Take the quizzes at the end of each lesson to see how well you’ve done, invite your friends to join you and even stand a chance to win cash each month! 

 


Debt

Saving

Budgeting

Investment

 

We're different

Wonga is different from other online lenders because our sophisticated risk and decision technology means the application and approval process takes literally minutes. We are the first company in the world to fully automate the lending process and we are able to make completely objective and responsible decisions around the clock. There's no paperwork, no need to meet with a bank manager and no sitting for hours on hold on the phone – our entire service is online and real-time. We are also uniquely flexible, allowing applicants to choose exactly how much cash they want to borrow and for how many days they need it. Our customers aren't forced to borrow a fixed sum they might not need, or pay interest for any longer than necessary.

We're responsible

Wonga offers short term loans for up to a month and we make money when our customers repay us quickly, not by continually extending a growing line of credit. We are serious about our commitment to responsible lending.

Wonga moments

In an ideal world no-one would need to borrow money but, in reality, everybody has the occasional Wonga moment - those times in life where an urgent expense or purchase pops up from nowhere and at a really bad time. You need some cash to tide you over for a few days or weeks and you need it fast. We believe it's best to sort out short term cash flow problems with a short term solution. So whether it's the car that's just conked out, an urgent bill has just arrived or you've just remembered your wedding anniversary with hours to spare... Don't worry, Wonga it!