nesto, a Canadian mortgage technology and financing platform, announced the closing of a CAD 302 million Series E financing round at a CAD 1.47 billion valuation.
The financing, which included a combination of primary and secondary capital, attracted new investors, including La Caisse, Fidelity Investments Canada ULC, PICTON Investments, and Endeavor Catalyst. Existing investors Portage, Diagram, NAventures, Fonds de solidarité FTQ, Fondaction, and National Bank of Canada’s venture capital arm also participated in the round.
The latest investment marks a significant milestone for the Montreal-based company, which has emerged as one of Canada’s fastest-growing mortgage lenders and technology providers.
Since its founding, nesto has focused on combining mortgage financing with proprietary cloud software and AI capabilities. The company recently introduced Maestro AI, an AI-native orchestration platform designed to streamline end-to-end mortgage operations and modernize financial workflows.
Through its Nesto Cloud platform and lending expertise, the company is seeking to transform Canada’s approximately CAD 2.1 trillion mortgage market while expanding its AI-powered offerings to the broader financial services sector.
The newly raised capital will be used to accelerate the development of nesto’s technology and artificial intelligence capabilities, speed the onboarding of partners and customers, and further scale its platform across the industry.
The company said it has generated more than CAD 37 billion in mortgage originations this year and currently manages over CAD 80 billion in residential and commercial mortgages under administration. nesto operates nationwide and is profitable.
Operating through the CMLS, nesto, and Nesto Cloud brands, the company has been recognized among Deloitte’s Fast 50 companies for three consecutive years. Its mission is to build Canada’s mortgage ecosystem of the future and establish a leading domestic lending technology platform.
KEY QUOTES:
“We have executed with focus and consistency on our mission to build the mortgage ecosystem of the future. This new capital will allow us to accelerate our technology and AI development while onboarding partners at turbo speed.”
Malik Yacoubi, Co-Founder And CEO, nesto
“This investment reflects our confidence in nesto, a Montréal-based fintech that stands out for its business model and innovative approach. By simplifying and modernizing the mortgage experience, nesto is playing a tangible role in transforming the lending sector in Canada.”
Kim Thomassin, Executive Vice-President And Head Of Québec, La Caisse
