Speakers 3.0 – Errol Damelin

Errol is a global entrepreneur and seasoned executive who loves building innovative businesses with inspirational people. He has been named Entrepreneur of the Year by Ernst & Young, the Guardian, TechCrunch and the European Tech Tour Association amongst others.

He is currently chief executive officer of Wonga, a ground-breaking online lender backed by Balderton Capital and Dawn Capital. Prior to founding Wonga, he successfully built two other businesses in completely different markets.

He was founder and CEO of Supply Chain Connect Ltd, which he developed to become one of the world’s leading providers of hosted supply chain collaboration solutions. With offices in the UK and US, the company serviced over 250 blue chip customers – including General Cable, Pirelli, Dow Chemical and DuPont – and was acquired by ChemConnect in 2005.

Errol’s first start-up experience was in Israel where, in 1997, he 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.

Wonga is undoubtedly Errol’s most ambitious project yet, with the aim of revolutionising the UK’s huge consumer credit market. It was 2006 when he first set about enabling people to manage their cash flow without the need for a long-term credit card dependency.

Leveraging purpose-built, real-time risk and decisioning technology, Wonga became operational in 2007. The company now provides short-term cash advances to thousands of customers every month – entirely online and with unparalleled speed and convenience.

Errol grew up in South Africa, before spending eight years in Israel. Following graduation from business school, he became a successful investment banker and, while helping entrepreneurs turn their dreams into reality, was inspired to switch roles and become the innovator.