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Company type | Finance |
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Founded | 2012 |
Founder | Alvin Singh, Bosco Tan, Finlay Harrison |
Headquarters | Sydney, New South Wales Australia |
Area served | Australia |
Parent | Zip Co Limited |
Website | getpocketbook |
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]
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]
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]
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]