468:-based BillPay and launched Everline, a provider of loans for small and medium-sized businesses. In November 2013 Damelin stepped down as CEO of the company due to its declining profits and allegations that it was exploiting the most vulnerable in society. Several weeks later, Wonga was required by the Financial Conduct Authority to offer about £2.6 million in compensation to customers for poor historic debt collection practices, which had included the sending of fake solicitor letters to its customers. Several months prior, Damelin had called for better regulation of the consumer lending sector and more transparency in the wider financial services industry of the United Kingdom. When asked about Wonga's controversial lending practices after his resignation, Damelin said that he had no moral issues with them, claiming that that credit could be an important force for good when given transparently and fairly and that Wonga's customers were overwhelmingly happy with and supportive of the company. After an increase in customer compensation claims, Wonga went into
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website that provided short term loans to borrowers in the United
Kingdom and abroad. Despite initial skepticism from banks, Wonga processed one hundred thousand loans within two years and lowered its initial 50% default rate significantly. By 2013 the company had grown to over five hundred
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rallies. During this time he was detained for protesting against the apartheid government policy of detention without trial. He graduated from the
University of Cape Town in 1995, before eventually getting an MBA at
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company that gained notoriety for charging extremely high interest on short-term loans. After
Damelin stepped down as CEO of the company in 2013, the company went into
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and ran the
Antarctic Ice marathon, where he raised substantial funds for the charity. In 2015 Damelin became a founding member of
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2009 – Ruban d’Honneur in the RSM International
Entrepreneur of the Year category of the European Business Awards
343:(born 23 August 1969) is a South African entrepreneur and early-stage technology investor. In 2007 he co-founded
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2008 – Credit Suisse
Entrepreneur of the year at the National Business Awards, South East
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Please help update this article to reflect recent events or newly available information.
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Damelin has donated to Jewish charities and has appeared on panels and discussions for
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788:"Wonga boss Errol Damelin: it's time to push the bad guys out of payday loans"
448:. In 2005 Damelin sold the business to ChemConnect for an undisclosed amount.
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991:"The Founders Forum continues to generate innovative discussion (Wired UK)"
586:"Wonga cuts cost of borrowing, but interest rate still 1,509% | Money"
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employees, with revenues of £300 million. That year it also acquired the
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899:"Entrepreneur of the Year 2011 Winners Announced - EY - United Kingdom"
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874:"The Europas European Startup Awards 2010 – The Winners and Finalists"
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2010 – Digital
Entrepreneur of the Year (Digital Entrepreneur Awards)
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from the article and its talk page, especially if potentially
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707:"Wonga's financial insurgent sets sights on small businesses"
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2010 – Entrepreneur of the Year (Growing
Business Awards)
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on 23 August 1969. Damelin grew up in a Jewish family in
762:"Wonga's Ice-cool chief Errol Damelin can take the heat"
668:"Wonga's Errol Damelin profile: Hey big (payday) lender"
642:"Wonga's Errol Damelin profile: Hey big (payday) lender"
375:. Upon graduating from high school Damelin attended the
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2010 – Founder of the Year (Tech Crunch – The Europa's)
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2011 – The
Guardian's Digital Entrepreneur of the Year
958:"Megas Digital Innovation awards 2012: Errol Damelin"
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Damelin has received several entrepreneurial awards:
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Collinson, Patrick; Jones, Rupert (30 August 2018).
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813:"Winners of the 2017 Digital Entrepreneur Awards"
507:2011 – Ernst & Young Entrepreneur of the Year
480:Damelin lives in London and has three children.
303:Entrepreneur and early-stage technology investor
925:"Megas Digital Innovation awards 2011: Winners"
1097:Boston University School of Management alumni
8:
1044:"Jewish Care attacked over Wonga appearance"
559:"Damelin now Wonga chair in board reshuffle"
513:2012 – Founder of the Year (Founders Forum)
50:Learn how and when to remove these messages
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530:. Damelin has also been an ambassador for
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94:about living persons that is unsourced or
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424:, the company developed software for the
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165:Learn how and when to remove this message
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617:"Wonga collapses into administration"
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7:
843:"The 2010 Growing Business Awards"
736:"Wonga pushes web loan innovation"
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584:Rupert Jones (16 December 2014).
31:This article has multiple issues.
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1042:Sandy Rashty (3 October 2013).
704:Cookson, Robert (31 May 2013).
39:or discuss these issues on the
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786:James Quinn (30 June 2013).
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72:biography of a living person
817:Digital Entrepreneur Awards
760:Andrew Cave (13 May 2012).
99:must be removed immediately
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428:of companies, including
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396:. Damelin subsequently
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451:In 2007 Damelin and
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964:. 19 October 2011.
823:on 26 February 2012
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472:on 30 August 2018.
398:emigrated to Israel
355:on 30 August 2018.
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410:cloud based
349:payday loan
278:Nationality
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878:TechCrunch
857:29 January
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262:1969-08-23
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975:3 January
970:0261-3077
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457:Wonga.com
455:launched
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311:Founding
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597:13 April
414:software
319:Children
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446:Corning
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