Wanda was built in 1935 by Reginald Yebsley at E.F. Elkins' boatyard in Christchurch for Henry Maxim, the head of a tailoring firm associated with Austin Reed. During the approximately nine months of construction, Maxim and Reed frequently visited the yard. The workforce consisted of no more than a dozen men, primarily experienced in building small sailing boats. Although the motor yacht Wanda was within their craftsmanship capabilities, it stretched the yard’s facilities.

The vessel was a double-ender with a canoe stern and was fitted with two Morris Isis engines. Her original owner primarily used Wanda in the Solent and maintained a friendly relationship with the builder. When weather conditions required leaving Wanda at Cowes or Poole, Yebsley was often dispatched to bring her home.

Wanda’s role during the Dunkirk evacuation is recorded as ferrying troops off the beaches on Saturday, 1 June 1940. Subsequently, it is believed she was equipped with a Bofors gun and served on patrol and pilot boat duties in Portland Harbour.

In 1946, the Royal Navy sold Wanda to a motor engineer in Clacton, Essex. Over the following years, a succession of owners cruised her around the Medway area. During the 1950s, the Finch family owned the vessel; they later owned Ryegate II and Matoya, both also Dunkirk Little Ships. According to Bill Finch, it was his mother who developed a strong affection for Wanda, leading to the purchase. At that time, the boat had not been sailed for years, and Bill’s initial task was to clear seven sacks of empty gin bottles from the vessel. It was reported that the previous owner committed suicide the day after selling her.

Over the next two years, Wanda experienced a series of mishaps that disillusioned the Finch family. However, after they sold her, subsequent owners restored the vessel and continued to enjoy her.

As of 2016, Wanda was owned by a former Commodore and had undergone repairs to address a long-standing leak in the starboard shaft log, including replacement of the cutlass bearings. New radio equipment and chargers were also installed. Planned future projects include renewal of her rigging and sails. The vessel is currently kept at Datchet on the River Thames.

Wanda is featured individually on a series of stamps titled Little Ships of Dunkirk, issued by Palau in 2015 to commemorate the 75th anniversary of Operation Dynamo.