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Wonga: a premature but overdue eulogy


Wonga, the company once dubbed by UK lawmakers as a “legal loan shark” is in dire straits, and is almost certain to enter administration. In preparation for this delightful and long overdue event, we went ahead and wrote it a eulogy: Wonga, fintech loan shark, is dead at 12. Wonga, a pioneer in the space of pushing poor people into spirals of debt they can ill-afford, passed away quietly today in London, England after a short battle with insolvency. It was 12. Administrators from Deloitte said the cause was its own hubris. Wonga’s demise came after it was forced to…

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