Auckland technology company Vend says it will create 54 new jobs in Auckland by March and another 71 overseas to meet booming demand for its cloud-based point-of-sale software.
Vend was founded in 2010 with the goal of being for the retail sector what cloud software company Xero is for accounting, and its software is currently used in about 25,000 stores around the world.
Chief executive Alex Fala said Vend had identified a “previously untapped channel to market in North America” via payment processors and resellers that was putting it in a strong position in the market.
“The sheer size of the North American independent retailer market and the opportunity to reach them through Vend’s partner-led approach to technology, is massive.
“We’ve tested the US market and we’re confident that our best-in-class point-of-sale software, combined with our open ecosystem, sets us apart from the competition,” he said.
Vend’s chief people officer Shirvani Mudaly said that in the “context of a slowing global and New Zealand economy” Vend was bucking the trend by hiring the extra 125 workers to add to its existing workforce of 300.
Unlike Xero, Vend is privately-owned by 38 shareholders and does not need to publish its accounts.
Fala would not disclose revenues or whether the company was profitable.
Vend’s largest shareholders include founder Vaughan Fergusson, (formerly Vaughan Rowsell), venture capital company Movac, and Trade Me founder Sam Morgan who is on the company’s board.
The company raised $13m from investors in 2016 and another $10m last year but Fala said it had no plans to list in the near future.
“We are just focused on building the business.”
About 40 of the Auckland hires would be for its product and engineering team.
Vend was looking for developers with different levels of experience, Fala said.
“We are seeing great graduates come through, but also we want some experience as well so we have got people who can lead teams and mentor graduates and develop them.”
Vend would definitely be hiring two permanent graduates and two interns, spokeswoman Joanne Fullam said.
“Last week we had 18 high calibre graduates come through our office, as potential hires. The two interns we hire will be from Tupu Toa. Alex Fala is of Pacific Island descent, so supporting Maori and Pacific students in tech is something that is very close to his heart.”
