Bootstrapping Success: How WeyMedia is Redefining Canadian Fintech from Atlantic Canada
WeyMedia made the Deloitte Fast 50 last year with 431% growth over three years, as the company continues to expand and reach more customers across Canada. They're the New Brunswick fintech best known for its highly successful creditcardGenius, hosting a number of offerings including moneyGenius and their recent launch of the GeniusCash app. A husband and wife team, Maria and Stephen Weyman have bootstrapped WeyMedia to over $5M in size.
WeyMedia is an inspiring story of grit, innovation, and determination and proof of what’s possible in Atlantic Canada.
Stephen & Maria Weyman, WeyMedia
Building Without Debt: The Advantages and Challenges of Bootstrapping
Maria and Stephen bootstrapped WeyMedia to over $5M CAD – without outside funding or debt. This approach has meant complete autonomy over strategy and execution, the ability to pivot quickly based on market feedback, and a disciplined, necessity-driven focus on creating value for Canadians. For them, bootstrapping has forced them to avoid the "planned failure" mindset that can come with venture capital, where startups have to scale quickly with high risk.
Bootstrapping, however, also came with challenges. Growth was slower, especially in the early days when the founders had to manage everything themselves – from administrative tasks to the core business operations. Maria reflected on the value of this experience, highlighting how it gave them deep insight into every aspect of their company, but equally reflected on how hard the challenges have been as well.
Focused Experimentation and Strategic Growth
The secret recipe to WeyMedia's growth strategy involves hyper-focused experimentation: they seek to understand their market intimately, test new ideas aggressively, and scale only what works. This disciplined approach allows them to build a suite of fintech products without overstretching their resources.
The pandemic, for example, tested their resilience when their revenue dropped drastically. They adapted by pivoting to a cashback rewards program and launching their own cashback rewards app, GeniusCash, which has since driven new growth.
Known for creative and bold initiatives, WeyMedia recently crafted an eye-catching marketing director job description aiming to acquire 1 million mobile app users within 18 months — with a $1 million bonus.
Building a Strong Company DNA
One principle they live by is embracing being different by design, which encourages boldness in what and how they do things. This has been reflected in their team dynamics as the company has scaled. Stephen and Maria emphasized the importance of company culture and ‘DNA’, confirming their guiding principles in a 16-page WeyMedia DNA document. This resource details why they operate in fintech, why they bootstrap, and their core beliefs. It focuses, for example, on execution and the power of consistent, focused effort, rather than the size of the team.
Lessons Learned and Advice for Founders
Among the many insights Stephen and Maria shared, key lessons include:
Just get started – even if you don’t know all the challenges ahead. Persistence and optimism are key.
Focus on initiatives that resonate deeply with your market.
Maintain trust and accuracy, especially when handling people's money.
Lean operations and cost discipline are fundamental to long-term survival.
Experiment in small, controlled ways to balance innovation with financial prudence.
Team building and leadership skills are critical to develop early on.
Stephen left attendees with this advice: "Consider operating your business in a lean way, because it forces you to make hard decisions, innovate out of necessity, try things quickly, and get to profitability quickly if you can."
Both Stephen and Maria Weyman are proof that grit – and not geography – determine success. Their company, WeyMedia, stands as a beacon of innovation and determination, proving that great fintech success stories can and do emerge from Atlantic Canada. From an informative finance blog, HowToSaveMoney.ca, launched in 2010, to a leading financial platform over $5M in size, the Weymans are not slowing down yet. Neither is the region.
Want a deeper dive? Watch the recording with Atlantic Fintech and WeyMedia here.
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