Fintech—financial technology—is usually associated with Sydney or Melbourne. But Geelong has a growing cluster of companies building in this space.

It’s smaller than agtech or health tech locally, but it’s significant and growing.

What’s Here

Several types of fintech activity are happening in Geelong:

Payments and Processing

Companies building payment infrastructure, merchant services, and transaction processing.

One company has built a payment gateway serving specific industry verticals. They handle significant transaction volumes with a team split between Geelong and Melbourne.

“We can hire engineers who don’t want CBD commutes. That’s a recruitment advantage.”

Lending Technology

Software for managing loans, credit assessment, and lending operations.

A company building for the credit union and mutual bank sector is headquartered in Geelong. Their customers are regional financial institutions—a natural fit for regional builders.

Financial Planning Software

Tools for financial advisors, accountants, and wealth managers.

This subsector has multiple Geelong players, building everything from portfolio analysis to compliance management to client communication platforms.

Insurance Tech

Software for insurance processes—claims, underwriting, policy management.

One company has built significant scale serving insurance brokers across Australia, with their engineering team predominantly in Geelong.

Why Geelong for Fintech

What makes Geelong work for financial technology?

Deakin connection: Deakin’s business and technology programs produce relevant graduates. Some fintech companies maintain research relationships.

Existing financial sector: Banks, accountants, and financial advisors in Geelong provide domain expertise and initial customers.

Regulatory distance: Fintech in Sydney is intensely competitive and closely regulated. Geelong offers space to build without constant competitive pressure.

Cost structures: Fintech often requires significant development before revenue. Lower costs extend runway.

Melbourne access: Close enough for regulatory meetings, banking relationships, and investor connections.

The Talent Picture

Fintech requires specific skill combinations—financial domain knowledge plus technical capability.

“Finding people who understand both finance and software is hard everywhere. In Geelong, it’s harder. But not impossible.”

Solutions include:

Training business graduates in tech: Taking finance or accounting graduates and building technical skills.

Training developers in finance: Starting with technical capability and adding domain knowledge.

Remote hires: Bringing in specialist expertise remotely while building local teams for core functions.

Partnership with education: Working with Deakin to shape curriculum toward industry needs.

Regulatory Considerations

Financial services are heavily regulated. This creates both barriers and opportunities.

“Regulation is a moat. Once you’re compliant, it’s hard for new competitors to enter. But getting compliant takes time and expertise.”

Geelong fintech companies navigate regulation in different ways:

• Some avoid regulated activities, building tools for regulated entities rather than being regulated themselves
• Others embrace regulation as competitive protection, investing in compliance capability
• Some partner with licensed entities to access markets without direct licensing

Understanding where you sit in the regulatory landscape is essential before building in fintech.

Investment and Growth

Geelong fintech companies have accessed various funding sources:

Bootstrap: Several companies have grown entirely from revenue, avoiding external investment.

Angel investment: Local and Melbourne angels have backed Geelong fintech.

Venture capital: Larger raises have come from Melbourne VC firms, typically requiring Melbourne board presence.

Strategic investment: Financial institutions investing in relevant technology companies.

The funding environment is harder than Sydney, where fintech-focused investors are concentrated. But viable paths exist.

What’s Working

Patterns among successful Geelong fintech companies:

Vertical focus: Building for specific industries or customer segments rather than generic financial services.

B2B orientation: Selling to businesses rather than consumers—smaller markets but more sustainable unit economics.

Regional advantage: Using Geelong location as advantage (cost, lifestyle, talent attraction) rather than hiding it.

Melbourne presence: Maintaining some Melbourne touchpoint for business development and investor relations while keeping operations regional.

Challenges

Honest assessment of difficulties:

Talent competition: Melbourne fintech companies can outbid on salary. Geelong competes on lifestyle, not compensation.

Investor perception: Some investors assume fintech must be in Sydney or Melbourne. Proving otherwise requires results.

Network limitations: Fintech networks, events, and communities are Melbourne-concentrated. Building relationships requires travel and effort.

Scale constraints: Large fintech companies often outgrow regional bases. Several originally-Geelong companies now have more staff in Melbourne than locally.

For Builders Considering Geelong

If you’re thinking about building fintech in Geelong:

Validate the location. Some fintech business models require Sydney or Melbourne presence. Others don’t. Understand which applies to you.

Build Melbourne relationships early. Investors, regulators, and potential customers are mostly there. Plan for regular presence.

Leverage the advantages. Cost savings, talent attraction, and lifestyle benefits are real. Use them strategically.

Connect locally. The Geelong fintech community is small but supportive. Others have faced your challenges and can help.

Think long-term. Building from regional takes longer. The advantages compound over time; impatience undermines them.

The Future

Geelong fintech is early-stage. The cluster exists but isn’t yet self-sustaining in the way Sydney’s fintech ecosystem is.

Growth depends on:

• Success stories that attract attention and talent
• Continued support from education and government
• Remote work trends maintaining talent access
• Local community development

The trajectory is positive. Whether it reaches critical mass depends on choices by founders, investors, and policy-makers over the coming years.

For those building now, the opportunity is being early in an emerging regional sector. That carries risk but also potential.