WWL has sold its Polish subsidiary wonga.pl to Kruk SA.
Warsaw – CFI Poland is pleased to announce that they jointly advised Wonga Worldwide Limited when the company sold its Polish subsidiary wonga.pl, a company operating on the online lending market in Poland, to listed Kruk S.A.
Kruk S.A. (ISIN: PLKRK0000010; Ticker: KRU) is the largest Polish debt collection company. It manages debts purchased on its own account and contracted by third parties. The group manages bank debt (the main client category), debts owed to loan brokers, insurance companies, leasing firms, fixed-line and mobile phone operators, cable TV companies, digital TV platforms and FMCG companies. Aside from Poland, Kruk is present in Romania, the Czech Republic, Slovakia, Germany, Spain and Italy.
Wonga.pl sp. z o.o. is one of the leading consumer lending companies in Poland, focused on online lending.
Wonga has been present in Poland since 2012 and currently employs more than 100 people. It has provided over 1.5m loans since its inception, and its customer base has exceeded 1.1m accounts. In 2017, the company generated revenue of PLN 100m. Wonga offers products for all market segments, selecting customers with the safest risk profiles compared to the rest of the industry.
The transaction was valued at PLN 97.1m and closed in April 2019.
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