Square sets up Melbourne engineering hub
Melbourne will be home to Square’s first engineering hub outside of North America.
The company’s expansion will create more than 60 jobs, meaning more than 100 employees will ultimately be based in Australia.
Square was initially attracted 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.
“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,” said Minister for Trade and Investment Philip Dalidakis.
“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.”
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 its tech sector.
“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,” said Square Australia Country Manager Ben Pfisterer.
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 Victorian 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 region.
Since November 2014, more than 3000 new tech jobs have been created across the state by direct government investments.
Victoria has attracted many large US-based tech companies including Apple, Slack, CyberInc and 99designs, the latter of which returned their headquarters to Melbourne earlier this year after a stint in San Francisco.
The World Economic Forum has recognised QuintessenceLabs as a Technology Pioneer for 2018.
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