Pocketbook (application)
{{short description|Australian personal finance app}}
{{About|the finance app|the e-book app|PocketBook International}}
{{UDP|date=April 2020}}
{{Infobox company
| name = Pocketbook
| logo = Pocketbook logo.png
| logo_size =
| type = Finance
| area_served = Australia
| parent = Zip Co Limited
| founded = 2012
| founder = Alvin Singh, Bosco Tan, Finlay Harrison
| hq_location_city = Sydney, New South Wales Australia
| website = {{URL|GetPocketbook.com}}
}}
Pocketbook is a Sydney-based free budget planner and personal finance app launched in 2012.{{cite news|title=Keeping your hip pocket healthy|url=http://www.theaustralian.com.au/business/technology/the-apps-to-balance-your-budget/news-story/3a14c7bdb36a61f18e5a6bdc785cb258|accessdate=5 January 2017|publisher=The Australian|date=2 May 2016}}{{cite news|last1=Lim|first1=Jason|title=Aussie Personal Finance Startup Pocketbook Hits 100,000 Users|url=https://www.forbes.com/sites/jlim/2014/09/10/aussie-personal-finance-startup-Pocketbook-hits-100000-users/#431395542a04|archive-url=https://web.archive.org/web/20140912083456/http://www.forbes.com/sites/jlim/2014/09/10/aussie-personal-finance-startup-pocketbook-hits-100000-users/#431395542a04|url-status=dead|archive-date=September 12, 2014|accessdate=5 January 2017|work=Forbes}} The app helps users setup and manage budgets, track spending and manage bills.{{cite news|last1=Courtenay|first1=Adam|title=Best apps to manage your money|url=http://www.smh.com.au/money/saving/apps-and-tools-to-manage-your-money-from-your-mobile-device-20160527-gp5is4.html|accessdate=5 January 2017|publisher=The Sydney Morning Herald|date=1 June 2016}} Pocketbook is the first personal finance app in Australia to offer users the ability to manage their money through linking their bank accounts.{{cite news|last1=Williams|first1=Hayley|title=Top Five Apps For Tax Time|url=http://www.lifehacker.com.au/2016/06/top-five-apps-for-tax-time/|accessdate=5 January 2017|publisher=Lifehacker}} As of 2016 Pocketbook claims to support over 250,000 Australians,{{cite news|title=Afterpay and zipMoney: New instalment of old idea gains momentum|url=http://www.theaustralian.com.au/business/opinion/tim-boreham-criterion/afterpay-and-zipmoney-new-instalment-of-old-idea-gains-momentum/news-story/c03a011a511b976899bc0f27d0daba33|accessdate=7 February 2017|publisher=The Australian}} in January 2018 that number was 435,000.{{Cite news|url=https://www.asx.com.au/asxpdf/20180129/pdf/43r338bkr4z86d.pdf|title=Z1P Quarterly Report}}
History
Pocketbook is founded by Alvin Singh and Bosco Tan in 2012.{{cite news|title=Pocketbook moves into mortgages|url=http://www.theaustralian.com.au/business/technology/Pocketbook-moves-into-mortgages/news-story/1b94299895ac3f684abc0eddb7175f43|accessdate=5 January 2017|publisher=The Australian|date=8 June 2016}} It was conceived in 2011 in a Wolli Creek apartment as a tool for Alvin and Bosco to take control of their money.{{cite news|title=Zipmoney Announces Completion of Pocketbook Acquisition|url=https://www.morningstar.com/news/null/SIGNALG_1138957_367358/zipmoney-announces-completion-of-Pocketbook-acquisition.html|accessdate=23 January 2017|publisher=Morningstar, Inc.|date=12 September 2016}} The app has been featured on CNET, Business Insider and other popular media outlets.{{cite news|last1=Pash|first1=Chris|title=zipMoney has grabbed fintech Pocketbook in a $7.5 million deal|url=http://www.businessinsider.com.au/zipmoney-has-grabbed-fintech-Pocketbook-in-a-7-5-million-deal-2016-9|archive-url=https://web.archive.org/web/20160913153944/http://www.businessinsider.com.au/zipmoney-has-grabbed-fintech-pocketbook-in-a-7-5-million-deal-2016-9|url-status=dead|archive-date=September 13, 2016|accessdate=5 January 2017|publisher=Business Insider|date=12 September 2016}} In September 2016, Pocketbook was acquired by ZIP Co Ltd ({{asx|Z1P}}).{{cite news|title=zipMoney raises $20.6m|url=http://www.sbs.com.au/news/article/2016/06/06/zipmoney-raises-206m|accessdate=23 January 2017|work=News|publisher=Special Broadcasting Service|language=en}}
Features
The app syncs with the bank account of users and organizes spending into different categories.{{cite news|title=Kochie's best money apps|url=http://www.news.com.au/finance/david-and-libby-koch/david-koch-managing-money-used-to-be-time-consuming-but-now-there-are-apps-to-help-you/news-story/f072d33611e4ef3979143176e80495de|accessdate=12 February 2017|publisher=News.com.au}} Users of the app can be reminded of bill payments, analyse spending and set spending limits.{{cite news|last1=Long|first1=Christine|title=Budget? Bills? Banking? App to it|url=http://www.smh.com.au/money/planning/budget-bills-banking-app-to-it-20150312-1426n7.html|accessdate=12 February 2017|publisher=The Sydney Morning Herald|date=17 March 2015}} They can also be alerted of fraudulent transactions and deductions.{{cite news|title=The financial perks of off-season travel|url=http://www.thegazette.com/subject/life/people-places/the-financial-perks-of-off-season-travel-20161228|accessdate=12 February 2017|publisher=The Gazette (Cedar Rapids)}} The app employs security measures like end to end encryption, CloudFlare protection, fraud detection, identity protection etc.{{cite web|title=Security - Pocketbook|url=https://getPocketbook.com/security/|publisher=Official website|accessdate=12 February 2017}} Pocketbook is available via web and mobile version.
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.{{cite news|title=Money management startup Pocketbook gets $500,000 from Markus Kahlbetzer's Tank Stream and investors including TV's Kochie|url=http://www.afr.com/leadership/entrepreneur/money-management-startup-Pocketbook-gets-500000-from-markus-kahlbetzers-tank-stream-and-investors-including-tvs-kochie-20131113-jz5d0|accessdate=12 February 2017|agency=The Australian Financial Review|date=14 November 2013}} In September 2016 Digital retail finance and payment industry player zipMoney (ASX:Z1P) bought Pocketbook in a $7.5m deal {{Cite news|url=https://www.businessinsider.com.au/zipmoney-has-grabbed-fintech-pocketbook-in-a-7-5-million-deal-2016-9|archive-url=https://web.archive.org/web/20160913153944/http://www.businessinsider.com.au/zipmoney-has-grabbed-fintech-pocketbook-in-a-7-5-million-deal-2016-9|url-status=dead|archive-date=September 13, 2016|title=zipMoney has grabbed fintech Pocketbook in a $7.5 million deal|last=Pash|first=Chris|date=2016-09-12|work=Business Insider Australia|access-date=2018-02-12|language=en}}
Awards
- Personal Finance Innovator of the Year by Fintech Business Awards 2017{{Cite news|url=https://www.fintechbusiness.com/industry/650-fintech-business-awards-2017-winners-revealed|title=Fintech Business Awards 2017 winners revealed|author=Staff Reporter|date=2017-02-24|access-date=2018-02-12|language=en}}
- Innovator of the Year by OPTUS MyBusiness Awards 2017{{Cite news|url=https://www.mybusiness.com.au/my-business-awards/2017-winners|title=2017 Winners|last=Hasan|first=Riaz|date=2017-11-10|work=MyBusiness Awards 2017|access-date=2018-02-12|language=en-gb}}
- Best Finance App of 2016 by Australian Fintech{{Cite news|url=https://australianfintech.com.au/pocketbook-best-finance-app-2016/|title=Pocketbook – best finance app of 2016|date=2016-11-29|work=Australian FinTech|access-date=2017-10-24|language=en-US}}
- 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.{{cite news|title=Best Personal Finance App: Pocketbook|url=https://www.finder.com.au/2016-finder-innovation-awards-best-personal-finance-app|accessdate=23 January 2017|publisher=Finder.com.au|date=10 November 2016}}
- 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.{{cite news|title=Over 3100 attendees gathered in Sydney for StartCon and the Australasian Startup Awards 2016|url=https://www.startcon.com/blog/2016/3100-attendees-gather-for-startcon-2016-australasian-startup-awards|accessdate=23 January 2017|publisher=StartCon}}
- Best New Startup 2014 by StartupSmart.{{cite news|last1=Powell|first1=Rose|title=All the winners from the 2014 StartupSmart awards|url=http://www.smartcompany.com.au/growth/41272-all-the-winners-from-the-2014-startupsmart-awards/|accessdate=7 February 2017|publisher=StartupSmart|date=27 March 2014|language=en-AU}}
- Finalist in the SWIFT Innotribe startup competition in Dubai in 2013.{{cite web|title=Grand Finale at Sibos, Dubai|url=https://innotribe.com/2013-startup-challenge/2013-grand-finale/|website=Innotribe.com|accessdate=7 February 2017}}
References
{{Reflist|2}}
External links
- [https://web.archive.org/web/20160416055118/https://itunes.apple.com/au/app/pocketbook-personal-finance/id653330894?mt=8 iPhone Pocketbook app]
- [https://play.google.com/store/apps/details?id=com.getpocketbook&hl=en&referrer=ts%3Dedf5196f-49a5-4672-bdcb-e6022f142208 Android Pocketbook app]