Parade flopped with minimum of wonga invested (5)
I believe the answer is:
swank
'parade' is the definition.
Although both the answer and definition are singular nouns, I don't see how one could define the other.
'flopped with minimum of wonga invested' is the wordplay.
'flopped with' becomes 'sank' (I can't explain this - if you can you should believe this answer much more).
'minimum of' indicates taking the first letters.
'invested' means one lot of letters goes inside another.
The initial letter of 'wonga' is 'w'.
'sank' enclosing 'w' is 'SWANK'.
Can you help me to learn more?
(Other definitions for swank that I've seen before include "Show off (colloq.)" , "Pretentious person" , "Boast" .)