Wonga.com Ltd of London, UK, is a short-term loan[1][2][3][4] company, with services currently available in the UK and South Africa[5][6]. It also owns a subsidiary known as Wongaforbusiness.com which has extended the short-term loan model to small business.[7][8] It was the first company to use fully automated risk processing technology[9], providing short-term, unsecured personal loans online and via mobile. The company was founded by Errol Damelin and Jonty Hurwitz.[10] The initial product was launched in October 2007 [11] and subsequently was the first to provide an instant lending app on the iPhone.[12] As of July 2012, it had funded over 5 million loans.[13]