AN Australian financial technology company is set to create more than 60 new jobs through a Scottish expansion.
HALO Invest, which offers data analysis services for financial firms, is opening its first UK office in Glasgow.
The expansion, backed by £800,000 in Scottish Enterprise funding, is expected to cost £8 million in total.
Douglas Boyce, CEO of HALO Invest, said Glasgow was the "ideal city" for the firm's UK operations to be based in.
He continued: "Glasgow demonstrated itself as the ideal city for us to base ourselves with its well-established mix of financial services and fintech talent.
"We know that just being here will significantly increase our chances of success."
The firm is a subsidiary of Sydney-based HALO Technologies, which builds investment technology platforms.
It expects that the new jobs set to be created by the expansion will come over the next two years.
The expansion comes after Scotland was ranked in July as the best UK location outside London for foreign direct investment projects by consultancy firm EY.
George Paxton, CEO of HALO Technologies, said: “The launch of HALO Invest in the United Kingdom in January of this year represented a key strategic milestone in our continued growth.
"With a solid platform of ongoing success in the Australian market on which to build, we are looking forward to taking our unique product offerings to the UK.
"We know that Glasgow, a world class city with a highly skilled workforce, will make the perfect base for our UK operations.”
Scotland hosts more than 220 financial technology companies, which provide a range of services to businesses and consumers.
The National reported in January that the country's fintech sector has seen a significant increase in jobs since 2021.
Jane Martin, a managing director at Scottish Enterprise, said: "It’s fantastic to see HALO Invest choosing Scotland and investing around £8 million in establishing a presence here, demonstrating our globally recognised reputation for financial services and fintech excellence.
“Glasgow has a rich pool of talent and the city is well on its way to becoming a world leading tech hub, making it an attractive destination for innovative fintechs looking to disrupt the market.
“We’re committed to growing Scotland’s fintech community alongside partners such as FinTech Scotland.
"Revenues in the fintech industry are predicted to grow almost three times faster than those in the traditional banking sector over the next three years.
"We see this as being an important breeding ground for new scaling businesses that will help drive Scotland’s future economic growth.”
