Pocketbook (application)

Last updated
Pocketbook
Company typeFinance
Founded2012
FounderAlvin Singh, Bosco Tan, Finlay Harrison
Defunct2022
Headquarters
Sydney, New South Wales Australia
Area served
Australia
Parent Zip Co Ltd (ASX:  Z1P)
Website getpocketbook.com

Pocketbook was a Sydney-based free budget planner and personal finance app launched in 2012. [1] [2] The app helped users setup and manage budgets, track spending and manage bills. [3] As of 2016 Pocketbook claimed to support over 250,000 Australians, [4] in January 2018 that number was 435,000. [5]

Contents

After being acquired by Zip Co Ltd in 2016, [6] it was announced in 2022 that the app was to be shut down and all user accounts deleted. [7] [8]

History

Pocketbook was founded by Alvin Singh and Bosco Tan in 2012. [9] It was conceived in 2011 in a Wolli Creek apartment as a tool for Alvin and Bosco to take control of their money. [10] [11]

In 2013, Pocketbook raised $500,000 from technology fund Tank Stream Ventures, and a group of investors including TV personality David Koch, Geoff Levy, David Shein and Peter Cooper. [12] In September 2016 Digital retail finance and payment industry player zipMoney (now trading as Zip Co Limited) acquired Pocketbook in a $7.5m deal [13]

Features

The app synced with the bank account of users and would organize spending into different categories. [14] Users could also be reminded of bill payments, analyse spending and set spending limits. [15] They can also be alerted of fraudulent transactions and deductions. [16] The app employs security measures like end to end encryption, CloudFlare protection, fraud detection, identity protection etc. [17] Pocketbook was available via web and mobile version. [1]

Awards

References

  1. 1 2 "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. ↑ "Afterpay and zipMoney: New instalment of old idea gains momentum". The Australian . Retrieved 7 February 2017.
  5. ↑ "Z1P Quarterly Report" (PDF).
  6. ↑ "zipMoney raises $20.6m". News. Special Broadcasting Service . Retrieved 23 January 2017.
  7. ↑ Simon Thomsen (July 8, 2022). "Zip-owned money management app Pocketbook is shutting down". Startup Daily.
  8. ↑ "Pocketbook Closure Summary – Pocketbook Help Centre". Archived from the original on August 7, 2022.
  9. ↑ "Pocketbook moves into mortgages". The Australian. 8 June 2016. Retrieved 5 January 2017.
  10. ↑ "How a spreadsheet born in a Sydney living room became a fintech with 300,000 users". Business Insider. May 22, 2017.
  11. ↑ "Zipmoney Announces Completion of Pocketbook Acquisition". Morningstar, Inc. 12 September 2016. Retrieved 23 January 2017.
  12. ↑ "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. Archived from the original on 13 February 2017. Retrieved 12 February 2017.
  13. ↑ Pash, Chris (2016-09-12). "zipMoney has grabbed fintech Pocketbook in a deal valued at $7.5 million". Business Insider Australia. Archived from the original on September 13, 2016. Retrieved 2018-02-12.
  14. ↑ "Kochie's best money apps". News.com.au . Retrieved 12 February 2017.
  15. ↑ Long, Christine (17 March 2015). "Budget? Bills? Banking? App to it". The Sydney Morning Herald . Retrieved 12 February 2017.
  16. ↑ "The financial perks of off-season travel". The Gazette (Cedar Rapids) . Retrieved 12 February 2017.
  17. ↑ "Security - Pocketbook". Official website. Retrieved 12 February 2017.
  18. ↑ Staff Reporter (2017-02-24). "Fintech Business Awards 2017 winners revealed" . Retrieved 2018-02-12.
  19. ↑ Hasan, Riaz (2017-11-10). "2017 Winners". MyBusiness Awards 2017. Archived from the original on 2018-03-25. Retrieved 2018-02-12.
  20. ↑ "Pocketbook – best finance app of 2016". Australian FinTech. 2016-11-29. Archived from the original on 2017-10-24. Retrieved 2017-10-24.
  21. ↑ "Best Personal Finance App: Pocketbook". Finder.com.au. 10 November 2016. Retrieved 23 January 2017.
  22. ↑ "Over 3100 attendees gathered in Sydney for StartCon and the Australasian Startup Awards 2016". StartCon. Archived from the original on 13 February 2017. Retrieved 23 January 2017.
  23. ↑ Powell, Rose (27 March 2014). "All the winners from the 2014 StartupSmart awards". StartupSmart. Retrieved 7 February 2017.[ dead link ]
  24. ↑ "Grand Finale at Sibos, Dubai". Innotribe.com. Archived from the original on 13 February 2017. Retrieved 7 February 2017.
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