Pocketbook Secures New Project Funding

News: Australia-based finance software startup Pocketbook has secured US$467,911 in funding from a number of local investors, reports ZDNet. The company, which began in late 2012, has 40,000 customers using its service to track US$6.5bn worth of transactions. Pocketbook intends to use the new funding to build its team of developers and to support the necessary marketing to encourage growth.

BMI View: Australian IT sales are expected to reach AUD26.413mn in 2013, up 4%, with the market continuing to offer opportunities despite business concerns about a domestic economic slowdown and the global economic situation. Tablet sales growth is compensating for the decline in desktop and notebook shipments, while investments in broadband infrastructure are boosting Australia's digital economy, and enabling wider adoption of services such as cloud computing, online banking and e-commerce.

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Geography: Australia

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