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July 30, 2015 11:58 PM ET

Consumer Finance

Company Overview of WDFC UK Limited

Company Overview

WDFC UK Limited provides short term loans to customers in the United Kingdom. It offers services online. The company was formerly known as Wonga.com Limited and changed its name to WDFC UK Limited on May 3, 2013. WDFC UK Limited was founded in 2007 and is based in London, United Kingdom.

88 Crawford Street

London,  W1H 2EJ

United Kingdom

Founded in 2007

Phone:

44 8712 885 704

Key Executives for WDFC UK Limited

Co-Founder and Chief Executive
Age: 45
Co-Founder
Compensation as of Fiscal Year 2015.

WDFC UK Limited Key Developments

Wonga Reports Earnings Results for the Year 2014

Wonga reported earnings results for the year 2014. For the year, the company reported net loss of £42.8 million in 2014 compared with a net profit of £30.6 million a year earlier. Revenues slumped 31% to £217.2 million.

Wonga Provides Earnings Guidance for the Year 2014

Wonga provided earnings guidance for the year 2014. For the year, the company expects to disclose losses of GBP 35 million. The company is anticipated to announce this week that a number of regulatory scandals and restructuring costs pushed it deeply into the red last year. The anticipated losses end a long run of profitability for the company which recently became the focus of sustained criticism by opponents of the short term lending sector. The company is expected to reveal that revenues declined to just over GBP 215 million from GBP 314.7 million.

Wonga to Cut 325 Jobs in Restructure Move

Wonga is expected to axe 325 jobs in a restructuring move. The jobs cuts means that Wonga will be halving the workforce supporting its UK business. Offices in London, Dublin, Cape Town and Tel Aviv that currently employ a total of 650 people will be affected. Moreover, The Dublin and Tel Aviv offices are set for full closure.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
February 24, 2015
WDFC UK Limited, Everline
 

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