Australian FinTech Zip has announced it will close its money management app.
In Brief:
Zip bought Pocketbook in 2016, which helps customers manage their finances.
Now, it will focus on its buy now, pay later offering.
The app has 800,000 users but Zip says it wants to focus on one core product in the current climate.
What does this mean?
Zip has put the move down to a changing operative environment and says it is seeking global profitability, foremost in the ANZ market, by refocusing its strategy like this.
