This video is of successful entrepreneur Errol Damelin, who
founded Wonga a short term money lending business. Prior to
founding Wonga, Errol built two other multi-million-pound
businesses. Supply Chain Connect Ltd was one of the world's leading
providers of hosted supply chain collaboration solutions, based in
the US and UK and with more than 250 blue chip customers. Before
that, he was part of the founding team at Barzelan Ltd, and
advanced steel wire production company based in Israel. In 2008
Errol was named Credit Suisse Entrepreneur of the Year at the South
East finals of the UK National Business Awards.
Damelin compares the nature of Wonga to that of a black cab in
London, and how he has developed a system based on trust into a
hugely successful business concept. He speaks of the main marketing
tools used by Wonga and how word of mouth has been the supportive
in customer acquisition. The business also supports Kiva, which
helps give funding to entrepreneurs in the developing world.
The Mobile and internet are also essential tools for the
company, providing accessibility and convenience to customers, and
in a world where people are starting to question the reliance on
the oligopoly of the banks; Wonga provides a great alternative of a
fast and reliable small cash loan service.
- Find out more about Wonga