Wonga previously raised about $28m since starting in mid-2008 but adds $120m from Wellcome Trust and venture capital firms.

Wellcome Trust, the UK’s largest charity and quasi-corporate venturing unit, has joined a series C round consortium investing £73m ($120m) in consumer lending company Wonga.

Venture capital firm Oak Investment Partners led the round, which included peers Meritech Capital Partners, Accel Partners, Balderton Capital, Dawn Capital, Greylock Partners and TAG.

Wonga previously raised about $28m since starting in mid-2008.