Tech Investment Booms As Square Sets Up Engineering Hub

22 May 2018

Global financial technology leader Square will establish its first engineering hub outside North America in Melbourne and expand its Australian headquarters, creating more than 60 new jobs and taking its local head-count beyond 100 employees.

The Andrews Labor Government attracted Square’s Australian headquarters to Melbourne’s fintech sector in 2016 and the company is now increasing its presence with the new hub, which will be at the forefront of the development of new payment technologies.

This major investment by the high-profile tech leader, headed by Twitter co-founder Jack Dorsey, is a significant vote of confidence in Victoria’s fintech sector, its highly skilled workforce and its culture of innovation.

Most of the jobs created by this investment will be in engineering, helping Victoria retain talented local development engineers as well as attracting the best minds from overseas to be part of our tech sector.

Australia has one of the most advanced payment markets in the world which, coupled with its thriving small business community, makes it the perfect place to introduce new payment technology.

The Labor Government is investing heavily in the state’s tech sector to position Victoria as the number one destination for business and tech investment in the Asia Pacific.

Since November 2014, more than 3,000 new tech jobs have been created across the state by direct investments attracted by the Labor Government.

Square joins a long list of global tech leaders choosing to set up and expand operations in Victoria as our local tech sector grows and our reputation as a centre for innovation spreads.

Victoria has attracted many large US-based tech companies including Apple, Slack, CyberInc and 99designs, which returned their headquarters to Melbourne earlier this year after a stint in San Francisco.

Quotes attributable to Minister for Trade and Investment Philip Dalidakis

“This decision by Square to choose Melbourne as the home of its first engineering hub outside of North America is a great vote of confidence in our booming tech sector.”

“This is about placing Victoria at the front of the queue for new jobs, new investment and new opportunities for this generation and the next.”

“Square is a great example of how tech disruption can help our local businesses – they’re giving our small businesses financial flexibility and removing their reliance on the big banks.”

Quote attributable to Square Australia Country Manager Ben Pfisterer

“We’re investing in our workforce here in Melbourne, and adding new engineering capabilities, so that we can introduce more of the products and services that will help Australian businesses grow.”

Reviewed 19 August 2020

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