nesto, Canada's leading mortgage technology and financing platform, has successfully closed a CAD 302 million Series E financing round, combining primary and secondary capital at a CAD 1.47 billion valuation. This milestone marks a significant step in the company's continued growth and expansion.
New Investors and Renewed Support
The funding round brings together prominent new investors, including La Caisse (formerly CDPQ), Fidelity Investments Canada ULC (certain funds), PICTON Investments, and Endeavor Catalyst. Existing investors such as Portage, Diagram, NAventures, National Bank of Canada's corporate venture capital arm, Fonds de solidarité FTQ, and Fondaction also renewed their participation.
Accelerating AI and Technology Development
The new capital will accelerate deployment of Nesto Cloud's AI-powered lending platform across mortgage financing and financial services sectors. Since its inception, nesto has distinguished itself as a leading provider of mortgage technology and financing solutions. Recently, the company launched Maestro AI, a unique AI-native orchestration platform designed to simplify end-to-end mortgage operations and modernize financial workflows.
By combining deep lending expertise with proprietary cloud technology through Nesto Cloud and advanced AI solutions, nesto is transforming Canada's $2.1 trillion mortgage industry. The company is redefining the mortgage experience for homeowners, lenders, and financial institutions alike. Building on this momentum, nesto is now expanding beyond mortgages to bring next-generation AI-powered solutions to the broader financial services industry.
Rapid Growth and Profitability
With this new capital, nesto will accelerate technology and AI development, enabling faster onboarding of partners and clients while further scaling its platform across the industry. The company is growing rapidly across all business units, with more than $37 billion in originations this year. nesto manages over $80 billion in mortgages under administration, operates nationwide, and is profitable.
“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,” said Malik Yacoubi, Co-Founder and CEO of 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,” said Kim Thomassin, Executive Vice-President and Head of Québec at La Caisse.
