A new smart wallet has taken crowdfunding site Indiegogo by storm by offering a built-in battery for phone charging, a distance alarm and WiFi hotspot.

The Volterman Bifold also contains a GPS tracking sensor and a thief detection camera that snaps images of anyone who opens the wallet when it’s lost.

The built-in powerbank has a 2,600 mAh battery which is capable of fully charging a smartphone battery, while it also has wireless charging capabilities for use with compatible devices.

The distance alarm connects to a user’s phone via Bluetooth and works in both directions – sending an alert to your phone should you move away without your wallet and vice versa if you get up without your phone.

The wallet will sound a small alarm which can be turned off with a tap.

Volterman Bifold charging

All this promised functionality certainly caught the attention of backers on Indiegogo – the Bifold wallet reached its funding goal on its first day, and at the time of writing had exceeded it by more than 950%, having raised over $429,000 after initially only asking for $45,000.

The start-up has previously launched a smart cardholder and travel wallet that can hold a passport as well as credit cards and a boarding pass.

The new Bifold is currently scheduled to start shipping in December. Backers of the Indiegogo campaign – which still has just over two weeks to run – can get the tech-loaded wallet for $139 (£106), significantly less than the retail price of $238 (£182), Volterman says.