Pocketbook (application)

This article is about the finance app. For the e-book app, see PocketBook International.
Pocketbook
Company typeFinance
Founded2012
FounderAlvin Singh, Bosco Tan, Finlay Harrison
Headquarters
Sydney, New South Wales Australia
Area served
Australia
ParentZip Co Limited
Websitegetpocketbook.com

Pocketbook is a Sydney-based free budget planner and personal finance app launched in 2012.[1][2] The app helps users setup and manage budgets, track spending and manage bills.[3] Pocketbook is the first personal finance app in Australia to offer users the ability to manage their money through linking their bank accounts.[4] As of 2016 Pocketbook claims to support over 250,000 Australians,[5] in January 2018 that number was 435,000.[6]

History

Pocketbook is founded by Alvin Singh and Bosco Tan in 2012.[7] It was conceived in 2011 in a Wolli Creek apartment as a tool for Alvin and Bosco to take control of their money.[8] The app has been featured on CNET, Business Insider and other popular media outlets.[9] In September 2016, Pocketbook was acquired by ZIP Co Ltd (ASX: Z1P).[10]

Features

The app syncs with the bank account of users and organizes spending into different categories.[11] Users of the app can be reminded of bill payments, analyse spending and set spending limits.[12] They can also be alerted of fraudulent transactions and deductions.[13] The app employs security measures like end to end encryption, CloudFlare protection, fraud detection, identity protection etc.[14] Pocketbook is available via web and mobile version.[1]

Funding rounds

Pocketbook has raised $500,000 from technology fund Tank Stream Ventures which is co-founded and backed by Markus Kahlbetzer. Other investors include TV personality David Koch, Geoff Levy, David Shein and Peter Cooper.[15] In September 2016 Digital retail finance and payment industry player zipMoney (ASX:Z1P) bought Pocketbook in a $7.5m deal [16]

Awards

  • Personal Finance Innovator of the Year by Fintech Business Awards 2017[17]
  • Innovator of the Year by OPTUS MyBusiness Awards 2017[18]
  • Best Finance App of 2016 by Australian Fintech[19]
  • Best Personal Finance App: Pocketbook won the 2016 Finder Innovation Awards, presented at a gala dinner hosted by media personality and The New Inventors presenter James O'Loghlin.[20]
  • Best Mobile App of the Year Winner: StartCon hosted the first annual Australasian Startup Awards. Over 200 nominations in 14 categories and an overall winner were reviewed, and winners were determined by public voting, with over 63,000 votes in total.[21]
  • Best New Startup 2014 by StartupSmart.[22]
  • Finalist in the SWIFT Innotribe startup competition in Dubai in 2013.[23]

References

  1. ^ a b "Keeping your hip pocket healthy". The Australian. 2 May 2016. Retrieved 5 January 2017.
  2. ^ Lim, Jason. "Aussie Personal Finance Startup Pocketbook Hits 100,000 Users". Forbes. Archived from the original on September 12, 2014. Retrieved 5 January 2017.
  3. ^ Courtenay, Adam (1 June 2016). "Best apps to manage your money". The Sydney Morning Herald. Retrieved 5 January 2017.
  4. ^ Williams, Hayley. "Top Five Apps For Tax Time". Lifehacker. Retrieved 5 January 2017.
  5. ^ "Afterpay and zipMoney: New instalment of old idea gains momentum". The Australian. Retrieved 7 February 2017.
  6. ^ "Z1P Quarterly Report" (PDF).
  7. ^ "Pocketbook moves into mortgages". The Australian. 8 June 2016. Retrieved 5 January 2017.
  8. ^ "Zipmoney Announces Completion of Pocketbook Acquisition". Morningstar, Inc. 12 September 2016. Retrieved 23 January 2017.
  9. ^ Pash, Chris (12 September 2016). "zipMoney has grabbed fintech Pocketbook in a $7.5 million deal". Business Insider. Archived from the original on September 13, 2016. Retrieved 5 January 2017.
  10. ^ "zipMoney raises $20.6m". News. Special Broadcasting Service. Retrieved 23 January 2017.
  11. ^ "Kochie's best money apps". News.com.au. Retrieved 12 February 2017.
  12. ^ Long, Christine (17 March 2015). "Budget? Bills? Banking? App to it". The Sydney Morning Herald. Retrieved 12 February 2017.
  13. ^ "The financial perks of off-season travel". The Gazette (Cedar Rapids). Retrieved 12 February 2017.
  14. ^ "Security - Pocketbook". Official website. Retrieved 12 February 2017.
  15. ^ "Money management startup Pocketbook gets $500,000 from Markus Kahlbetzer's Tank Stream and investors including TV's Kochie". The Australian Financial Review. 14 November 2013. Retrieved 12 February 2017.
  16. ^ Pash, Chris (2016-09-12). "zipMoney has grabbed fintech Pocketbook in a $7.5 million deal". Business Insider Australia. Archived from the original on September 13, 2016. Retrieved 2018-02-12.
  17. ^ Staff Reporter (2017-02-24). "Fintech Business Awards 2017 winners revealed". Retrieved 2018-02-12.
  18. ^ Hasan, Riaz (2017-11-10). "2017 Winners". MyBusiness Awards 2017. Retrieved 2018-02-12.
  19. ^ "Pocketbook – best finance app of 2016". Australian FinTech. 2016-11-29. Retrieved 2017-10-24.
  20. ^ "Best Personal Finance App: Pocketbook". Finder.com.au. 10 November 2016. Retrieved 23 January 2017.
  21. ^ "Over 3100 attendees gathered in Sydney for StartCon and the Australasian Startup Awards 2016". StartCon. Retrieved 23 January 2017.
  22. ^ Powell, Rose (27 March 2014). "All the winners from the 2014 StartupSmart awards". StartupSmart. Retrieved 7 February 2017.
  23. ^ "Grand Finale at Sibos, Dubai". Innotribe.com. Retrieved 7 February 2017.