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ASX-listed financier buys wellbeing app

ASX-listed financier buys wellbeing app

Gavin Hammerschlag

Two national firms have advised on the acquisition of a leading Australian personal financial management app, which has a strong focus on consumer financial wellbeing.

Firms: Arnold Bloch Leibler (zipMoney Limited); Thomson Geer (Pocketbook)

Deal: zipMoney has acquired Pocketbook.

Value: $6 million upfront consideration (compromising mix of cash and new zipMoney shares) and up to $1.5 million in deferred consideration (in new zipMoney shares) subject to certain performance milestones being met.

Area: M&A

Key players: The team advising zipMoney was led by Arnold Bloch Leibler corporate and M&A partner Jeremy Leibler, senior associate Gavin Hammerschlag (pictured), and foreign lawyer Alon Greenspan.

The team advising Pocketbook was led by Thomson Geer partner Dan Kramer and senior associate Lucinda Girdlestone.

Deal significance: Pocketbook is a leading Australian personal financial management app with a strong focus on consumer financial wellbeing.

zipMoney is a key player in the digital retail finance industry, offering point-of-sale credit and digital payment services to consumers.

zipMoney provides a range of retail finance solutions to small-to-medium enterprise merchants across numerous industries, both online and in-store, including interest-free and buy now, pay later.

Arnold Bloch Leibler senior associate Gavin Hammerschlag said the acquisition of Pocketbook strengthens zipMoney’s position in the local fintech sector.

“We are pleased to have been able to assist zipMoney on another key transaction, having recently acted on its successful $20.6 million capital raising,” he said.

“We look forward to working with zipMoney as it continues its phenomenal expansion.”

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ASX-listed financier buys wellbeing app
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