Founder & CEO at Wonga.com
London, United Kingdom
- Current
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- Founder & CEO at Wonga.com
- Advisor at The Dinah Project
- Advisor at Readitswapit.co.uk
- Past
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- Founder & CEO at Supply Chain Connect Ltd
- Vice President, Marketing and Sales at Barzelan Ltd
- Investment Banker at YLR Investment Management
- Education
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- Boston University - School of Management
- University of Cape Town
- King David High School
- Recommended
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9 people have recommended Errol - Connections
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Errol Damelin’s Summary
I'm a global entrepreneur and seasoned executive who loves building innovative businesses with inspirational people. I'm proud of my adaptability, having founded three major businesses on different continents and in completely unrelated industries.
I'm currently the founder and CEO of Wonga.com, a ground-breaking online lender. We provide small, short-term cash advances to UK consumers and our automated, real-time processing systems leave traditional lenders eating dust.
Wonga's mission is to provide a genuine alternative to slow, rigid and long-term sources of credit and we're committed to doing this responsibly. That means transparency, using sophisticated decision technology to ensure we lend to credit-worthy individuals and giving applicants unique control over the size, length and cost of loans.
We're also building a significant partnership with Kiva.org, a non-profit organisation doing great things with micro finance. For every Wonga cash advance we process, we're lending £1 interest-free to entrepreneurs in the developing world.
Prior to creating Wonga I was founder and CEO of Supply Chain Connect Ltd, which I developed to become a leading provider of hosted supply chain collaboration solutions. With offices in the UK and US, the company serviced over 250 blue chip customers and was acquired by ChemConnect in 2005.
My first start-up experience was in Israel where I was part of the founding team at Barzelan Ltd. The business rapidly grew to over 100 employees and became a global leader in advanced steel wire production.
I grew up in South Africa, before spending eight years in Israel. Following business school, I became an investment banker and, while helping entrepreneurs turn their dreams into reality, was inspired to switch roles.
I work hard, but in my limited free time I enjoy an active lifestyle including marathon running, mountain biking, sea kayaking and skiing.
Errol Damelin’s Specialties:
Start-up, internet, enterprise software, software as a service, venture capital, angel funding, corporate finance, turn-around, MBO, merger, acquisition, UK financial services, consumer finance
Errol Damelin’s Experience
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Founder & CEO
Wonga.com
(Privately Held; Financial Services industry)
December 2006 — Present (3 years )
As the Founder CEO, I'm driving the innovative strategy as well as the day to day building of the business. I'm fortunate to be doing this with a great co-founder and we're surrounded by an excellent group of people and this makes the execution a whole lot more enjoyable and rewarding.
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Advisor
The Dinah Project
(Privately Held; Internet industry)
July 2006 — Present (3 years 5 months)
I feel passionately that this is the sort of genuine, grass roots media that the web was meant to unleash: The Dinah Project (www.dinahproject.com) is a ground-breaking content and social networking site that generates honest, original and frank content and facilitates the sharing of information relating to women's sexuality. There are articles, product reviews, a great blog and active forums. Its voice is always credible and always delivered with integrity.
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Advisor
Readitswapit.co.uk
(Internet industry)
May 2006 — Present (3 years 7 months)
The leading free p2p book swapping website. Over 250,000 books listed and great liquidity.
www.readitswapit.co.uk -
Founder & CEO
Supply Chain Connect Ltd
(Privately Held; 11-50 employees; Computer Software industry)
May 2000 — November 2005 (5 years 7 months)
I founded this world class supply chain connectivity and visibility business that we grew to become one of the pre-eminent providers of hosted supplier and customer facing supply chain collaboration solutions.
It's hosted connectivity and visibilty offerings are delivered both directly and through partnerships with leading software and services firms. It's unique RFID Connect solution is delivered in partnership with leading packaging, barcode and systems integrator partners.
The Supply Chain Connect hub and connectivity platform enables supply chain partners to share critical order, demand and inventory information in real-time to reduce administration costs and lower inventory levels.
Headquartered in London and with US offices, Supply Chain Connect had a blue-chip customer base and had become one of the pre-eminent providers of on-demand supply chain connectivity solutions before its 2005 acquisition by Chem Connect Inc. -
Vice President, Marketing and Sales
Barzelan Ltd
(Privately Held; 51-200 employees; Mining & Metals industry)
1998 — 2000 (2 years )
I was part of a small founding team with responsibility for building the commercial side of the business. I created the direct and global channel marketing and sales organisation for what was one of the world's most advanced steel wire businesses.
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Investment Banker
YLR Investment Management
(Public Company; 51-200 employees; Investment Banking industry)
1995 — 1998 (3 years )
I was a successful early-stage corporate finance banker at one of Israel's leading investment banking boutiques (now part of the IDB group).
Errol Damelin’s Education
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Boston University - School of Management
Master of Science in Management (MSM) , Business , 1994 — 1995
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University of Cape Town
Bachelor of Business Science (Honours) , Business and Law , 1988 — 1992
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King David High School
