Update: Cash-strapped Wonga goes into administration in the UK

Update: That’s it for Wonga’s UK business. The beleaguered payday loans company has just confirmed it’s gone into administration. Although it says its overseas businesses are contin

Xiaomi backs Indian consumer lending startup ZestMoney in $13.4M deal

Xiaomi has continued its investment in India after it led a $13.4 million round for fintech startup ZestMoney. The newly-public Chinese firm previously said it would invest up to $1 billion in India

Wonga investors inject £10M so cash-strapped payday lender can fund claims

If you were at Disrupt London four years ago you may remember more than a little awkwardness during an investor panel when two VCs that had invested in European payday loans firm Wonga declined to c

Payday loan firm Wonga suffers data breach affecting up to 270,000

Payday loan firm Wonga has suffered a data breach affecting up to 245,000 customers in the U.K. A further 25,000 customers in Poland may also be affected, according to the BBC.

Klarna buys BillPay, the PayPal of Germany, for $75M from Wonga

Some chopping and changing is afoot in the world of payments in Europe. Today, Klarna, the startup out of Sweden that works with online merchants to enable flexible payment options, confirmed that it

Disgraced Payday Lender Wonga Sells SMB Business To Orange Money, Cuts 325 Jobs

More unravelling for Wonga, the UK-based online lender that last year had to write down £220 million ($340 million) in unpaid loans. The company announced today that it would lay off 325 staff, and

U.K. Confirms Payday Loans Caps Coming In January

Strict new price caps will come into force in the U.K.'s payday loans market in January, sector regulator the Financial Conduct Authority (FCA) has confirmed, affecting any U.K. businesses that offer

Wonga Investors Still Won’t Comment On Censured Payday Loans Firm

A panel of Europe's top investors has publicly declined to comment on what went wrong at payday loans company Wonga, in the wake of a £220 million write down earlier this month. The investors were ta

Investors Stay Silent After Wonga Fiasco

TechCrunch asked Wonga’s investors to comment on whether they thought the payday loan company had acted responsibly -- given the scale of the failures identified by the FCA, and the evident inadequa

Wonga Writes Off 330,000 Debts To People It Should Never Have Lent Money To

Payday loans startup Wonga has agreed to entirely write off the debts of 330,000 customers after the UK regulator found its affordability checks were inadequate.

“Straight Talking” Payday Loans Startup Wonga Found Sending Fake Legal Firm Letters

Wonga's unescapable TV advertising campaign, featuring cute 'elderly' puppets, carries the company slogan "<a target="_blank" href="https://www.youtube.com/user/wonga">straight-talking money</a>". But

E-Loan Specialist Wonga Buys BillPay, The PayPal Of Germany, To Move Deeper Into Payments

<a target="_blank" href="http://www.wonga.com">Wonga</a> is a UK-based startup best known for its online payday loan services, but today the company made a move that could see it not only extending ac

Wonga Extends Its Payday Loans To Small Businesses In UK

<a href="http://Wonga.com">Wonga.com</a>, the successful but controversial payday loans provider, is extending its credit service to small businesses in the UK. The move is a smart one given the curre

Announcing The 2011 Crunchies Finalists And Tickets On Sale Now

The nominations have been tabulated and the votes are in. Over 300,000 nominations were calculated across 20 categories. Along with our partners <a href="http://gigaom.com/" target="_blank">GigaOm</a>

Five European Startups To Watch

Silicon Valley is famously, and rightly, proud of its place as the spiritual home for startups. And it has an inspiring and awesome track record that’s tough to beat. However, as the recent <a hr

Saul Klein’s List Of Europe’s Next Billion-Dollar Tech Companies

Where will the next billion-dollar startups come from? The tech world and most VCs tend to be parochial, looking at Silicon Valley, maybe New York, and a few other hot markets like <a href="https://t