Jack Dorsey’s fintech startup, which offers contactless and chip readers that connect wirelessly with tablets and point of sale, had first chosen Melbourne as their Australian headquarters back in 2015 due to its “thriving small business community of merchants,” and “growing reputation as Australia’s technology hub.” Last week an even stronger commitment to the emerging local tech sector was made, with the announcement of Square’s first engineering hub outside of North America and a larger Bourke Street office location.
“We have been humbled by the support Square has received from Australia’s business community over the past two years,” CEO Dorsey, who is also the co-founder of Twitter, told media last week.
Since its Australian launch in 2016, Square has experienced strong demand from small businesses and sole traders who have adopted the point-of-sale app, with Dorsey affirming more businesses are joining the platform every day.
“As our seller base continues to grow, our team needs to grow with it, which is why we are investing more in Australia – adding new high-skill jobs and expanding our local operations in Melbourne.”
This expansion is supported by a state government with one of the lowest rates of business tax, and will see the company’s local workforce reach 100 employees over the next few years. Victoria’s tech industry already boasts both emerging and established companies like Alibaba, Amazon, Hired, Zendesk and CyberGym. Square Australia Manager Ben Pfisterer expressed how impressed they were with the take-up of the product and how many Australian businesses were using the platform, citing a 150% increase in usage since March 2017.
“With a thriving small business community and thirst for innovation, the Australian market has proven to be quick-adopters of new payments technology. We are investing in our local workforce this year, and adding new engineering capabilities so that we can introduce a greater range of products and services that will help more Australian businesses,” Mr. Pfisterer said.