Jennifer Cameron, CEO of INVRS
Jennifer Cameron, co-founder and CEO of INVRS, is at the forefront of innovative financial education, developing a platform that provides the tools and knowledge needed to enable smarter investment decisions. We follow Cameron on her remarkable journey, from her childhood struggles to her challenges as a co-founder. HyperWALLET, what was acquired by Paypal in 2018 for $400 million and finally transform his new company INVRS into a fun investment education platform. It’s a story of resilience. Cameron emerges as not only a successful businesswoman, but also a strong advocate for financial literacy.
Cameron was born in Hamilton, Ontario, Canada, moved several times before finally settling in Ancaster, Ontario. The transition was particularly difficult, with Cameron having difficulty making friends in second grade. The childhood sense of belonging had faded and Cameron faced a lack of self-confidence, feeling like an outsider. She keeps,
“Our college had a bad reputation. I didn’t think it would be too bad because I thought I would be invisible, probably because of my sophomore experience. It turned out to be quite the opposite. I was the target of a group of terrifying eighth grade girls. “Freak” was the most common label applied to me, but there was also “weird,” “scrag,” “slut,” and “skank.” I didn’t know how to handle it. I played hooky for a week; I tried to run away; I refused to go to school; I thought I was going to do drugs; I planned to kill myself.
Amidst the challenges, the vice-principal of her school intervened and the librarian gave her some comfort by recommending “The Outsiders” by SE Hinton. Since then, the library has become one of his favorite places.
Growing up in the 1980s was a crazy time, filled with drugs, alcohol and some mischief. Despite this, Cameron excelled academically, particularly in mathematics and science. She eventually landed at the University of Toronto majoring in commerce and business. Cameron maintained good grades, but his excessive drinking remained a coping mechanism to hide his shame about not fitting in. Things started to change, however,
“I had an accident one evening coming home from the bar. I jumped onto a railing that blocked an eight-foot drop. I took a step back but… a trash bag at the bottom of the stairs stopped my fall, even though I suffered a crushed vertebra. This accident was a wake-up call…”
Cameron eventually graduated with a double major in economics and business, and briefly considered academia, but ultimately pursued a career in finance on Bay Street.
Breaking into the financial industry was a challenge, but she eventually landed a job as a broker’s assistant. After some time on Bay Street, she traveled around before settling in Vancouver, working for a sports betting startup where she oversaw operations and customer service.
After a few years, some team members decide to leave and start their own business. Lisa Shields and Cameron became co-founders of hyperWALLET, Shields as Chief Technology Officer (CTO) and Cameron as Chief Executive Officer (CEO), along with five other founding team members. hyperWALLET’s original goal was to enable online cash transactions, a solution ahead of its time at the turn of the century. Over the years it grew into a payments company and was eventually acquired by PayPal for $400 million in 2018. His experiences at hyperWALLET were difficult:
“The beginnings of hyperWALLET were difficult. We founded the company in the early 2000s, just as the cold winds of the Internet industry crisis were beginning to blow. We raised $400,000 before investment dried up. But like all startups, we needed more funds. Fundraising is difficult at the best of times. It was horrible at first if you were a tech company and even harder if you were a tech company founded by women.
The period was stressful, causing tension between Shields and Cameron. Shields had more professional experience and held a master’s degree from MIT in aeronautical engineering. This was well received. Meanwhile, people began to question Cameron’s credibility. She thinks,
“People really loved him [Shields]. On the other hand, I heard that I had no credibility. The people I met for the first time were rude. Those with whom I had a business relationship became harsh and demeaning. At the time, we were trying to raise money and our potential investor’s manager told me that no one was out to assassinate my character, which I had never alluded to… I had to It felt like seventh grade again and I finally left the company. It was a difficult decision, but I had to be pragmatic: sometimes when you get in the ring, you take a beating. What happens next is what matters. This experience pushed me to close the credibility gap, because I knew that once I healed my wounds, I would want to get back in the ring.
Returning to Ontario, Cameron became the mother of twins in 2004. Balancing motherhood, Cameron earned her CPA designation which she earned in 2013 and earned her CFA in 2021. In 2010, Cameron began working part-time partial on what would later become the INVRS.
The creation of INVRS occurred while Cameron was pursuing his CPA studies. She explains,
“There was a class on the importance of financial statements. He wondered if you could extract actionable information from it to make investment decisions. The course described two models developed in academia, published, peer-reviewed, and demonstrated to be effective in finding Alpha (defined as extraordinary or unexpected returns). Because I had a background and interest in investing, these models fascinated me. However, their construction was difficult. They required a lot of input and calculations. I realized that to use them properly you needed software. There was no software to create investment models. The first iteration of INVRS, launched in 2010, was a tool for creating investment models using financial statements and market data.
Entrepreneurship has always been a dream for Cameron, inspired by his roots.
“I observed my father and grandfather in their businesses. My friend and I screen printed t-shirts and sold them when we were in high school. I made scones for the British when I was traveling. I co-founded hyperWALLET based on an idea I had about online cash. And now INVRS seeks to make young people more financially literate by providing them with tools, games and education to become smart investors.
Cameron launched INVRS to create a powerful tool for retail investors. Originally, the tool would make it possible to create investment models without having to delve into financial statements and create flimsy models in Excel. This has changed.
“As we evolved, we realized that the tool we really needed was knowledge, knowledge of investing. However, investing is a complex subject, so we need a way to make it accessible to everyone and make people more resilient to fraud.”
In early 2023, Cameron and the team began laying the foundation for their gamified investment education platform. Insights gathered through testing and conversations revealed strong interest in game-like elements. Additionally, concerns about a lack of investment knowledge were widespread in the market. So, they combined gamification and education and introduced “Motion to Invest” allowing users to create investment proposals subject to peer voting; They also added games like “FinTrivia” and “FinSearch,” as well as investing competitions.
Cameron believes pivoting is vital for any business, adding: “It’s like tacking when you’re crossing the sea; you know your goal, but to get there you need to adjust your sails to catch the wind. The wind is attention and interest.
The results have been exceptional: traction figures have shown consistent growth since the substantial rollout of gamification in summer 2023. October saw a 97% month-over-month increase in registrations, with an increase monthly active users (MAU) by 138% over 3 months.
This is just the beginning. Over the next decade, Cameron aims to become the premier investing community on the Internet because it offers more than a platform to talk about stocks,
“Through our games, education and tools, we help people become smart investors. We will partner with financial institutions, who understand that an educated investor is a better customer and that encouraging people to over-trade is wrong. Our vision is to create an additional trillion dollars of wealth in a generation.
Cameron continues to be inspired by some incredible women she has met along the way:
“Lisa Shields, my co-founder of hyperWALLET, is a brilliant woman and a masters in business. Joanne Fedeyko, founder of the Canadian Women’s Network and Connection Silicon Valley, is an extraordinary connector. Audie McCarthy, former president and CEO of Mohawk College Enterprise, is one of the best examples of emotional intelligence I have.
I also met a lot of wonderful women entrepreneurs who I adore: Kristine Beese (Untangling the money) supports other entrepreneurs, opens his network in the blink of an eye and knows how to listen with empathy when business gets complicated. Thyagi DeLanerolle (OOt Social Health) doesn’t just send a five-second email when you ask for help. She jumps on the phone, listens, connects and says all the right things to give me heart.
Jennifer Cameron’s advice to future female entrepreneurs?
“Be kind to each other and support each other. When you take a beating, learn from it. Adjust your strategy, close the gaps and get back in the ring.
As Jennifer Cameron propels INVRS into the future, her journey serves as an inspiration to aspiring entrepreneurs. Whether facing adversity in her early years or adapting to personal and professional setbacks, Cameron’s story resonates with determination and resilience toward her broader mission to make a financial impact sustainable. In his words,
“Being a leader is hard. You have to give courage when you don’t feel any; you must listen actively; you have to be curious and have self-confidence. I don’t find anything so easy. But I know I’m improving as a leader. I know I’m better than when I started hyperWALLET… I can evaluate my decisions objectively. Sometimes I blame myself for these decisions, but I know others were right. It helps me build my confidence. Confidence is a good thing that women should cultivate in themselves. We need more. »