zipMoney acquires finance management app Pocketbook

Australian payments and finance app zipMoney is acquiring personal finance management app Pocketbook for $7.5m.

The deal will see zipMoney pay $6m in cash upfront with another $1.5m added on if agreed milestones are reached.

Pocketbook’s app allows users to manage their spending and set savings goals.

Its entire team will join zipMoney, including its founders.

For zipMoney the acquisition will give it access to Pocketbook’s 250,000-plus users’ data, which it says will be used to further enhance its credit and fraud detection technology.

Copyright © 2016 FINTECH GLOBAL

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