Beginning as a passion project geared toward saving money and optimizing finances, New Brunswick’s WeyMedia has morphed from a financial content creator into one of Canada’s fastest-growing fintech firms. The Dieppe-headquartered company is dedicated to revolutionizing personal finance education and helping Canadians make smarter everyday choices with their money.
Led by co-founders Stephen and Maria Weyman, WeyMedia operates two financial platforms, moneyGenius.ca and creditcardGenius.ca, and is launching a mobile application, GeniusCash, this month. GeniusCash is a cash-back rewards program that sends money directly into a user’s bank account. It is designed to help Canadians get the most from credit card rewards, find great deals on financial products, and get big cash bonuses and extra cash back on their spending in the process.
The launch of the app caps off an impressive 2024 for WeyMedia, which saw it listed among The Globe and Mail’s Report on Business Magazine’s list of Canada’s Top Growing Companies, and land a spot on this year’s Deloitte Technology Fast 50.
From side hustle to fintech leader
Stephen Weyman was passionate about saving money and optimizing his finances and decided to help Canadians find reliable personal finance information and money-saving tips. He launched HowToSaveMoney.ca to produce finance-themed content. “Maria came on board in 2015 and led our incorporation as WeyMedia in 2016. Given my background in software development, we moved from content into fintech, building custom software around financial product recommendations and analysis,” he says. “The goal was the same: help people make better financial choices.”
With moneyGenius (which the company bills as the Amazon of personal finances) and creditcardGenius (the TripAdvisor for credit cards), now well established, WeyMedia expects the launch of its GeniusCash app will further cement the company’s status as one of Canada’s top fintech players. Since launching its web-based GeniusCash platform in 2021, WeyMedia has given away over four million dollars to Canadians. “It’s really resonating with people; who doesn’t want cash sent directly to them?” notes Maria. “With the mobile app, we’re expanding our reach. We launched a beta of about 1,000 users in late 2024 with some great early adopter feedback, so we’re really excited about this month’s full rollout.”
Still bootstrapped and debt-free
Stephen says that most companies’ rewards programs are aimed at new customer acquisition, and those programs are often loss leaders. That’s not the case with GeniusCash, however. “We are still a bootstrapped company, entirely self-funded with no debt. We have been able to engineer GeniusCash to reward people as a natural, sustainable part of our business model.”
“We’re still enjoying that bootstrapped independent route. No doubt, we could have grown faster with more cash injected early, but we’re happy with our strong organic growth,” says Maria. “For now, we love having the freedom and privilege to invest in projects and initiatives that we truly believe in and will make a positive difference for Canadians.”
She says growing its New Brunswick-based business comes with many challenges, however, the load has been more manageable with support from ONB and Venn Innovation, a local startup incubator in Moncton. “The team at ONB has helped us forge valuable connections, as well as pursue non-equity funding options for team expansion and patent application. They also connected us to the team at IRAP, whom we have collaborated with on two projects over the years. The ONB team does a great job connecting entrepreneurs through events like the NB Export Awards and being a dependable resource for emerging businesses like ours.”
Looking ahead to 2025
When asked what trends they’re watching in 2025, both co-founders note the rise and adoption of AI technology. They say that while they’ve experimented with AI previously in their recommendation algorithms, their focus will remain on building products that are valuable to Canadians regardless of what trajectory AI technology takes. “We’ll leverage AI where we can, but we don’t want to get too swept away by the AI tide, since it seems to shift daily. Quantum computing seems poised to take off further too. If AI is the first shoe to drop, quantum computing will likely be the second. We plan to keep growing regardless of how those technologies evolve.”
Maria says the recognition from Deloitte and The Globe and Mail has given the company further credibility with customers. “It’s validation of the work our team has done already, while also motivating us to keep aiming high. We’ve made great strides as a team of just over 20, and there are many milestones still to come.”
The GeniusCash mobile app is now available on Apple and Android, learn more at https://geniuscash.com/.
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