nesto raises $302 million Series E at $1.47 billion valuation to accelerate growth

nesto, Canada’s leading mortgage technology and financing platform, today announced the successful closing of a CAD 302 million Series E financing round, comprising a combination of primary and secondary capital, at a CAD 1.47 billion valuation, marking a significant milestone in nesto’s continued growth and expansion.

The funding round brings together prominent new investors, including La Caisse (formerly CDPQ), Fidelity Investments Canada ULC [certain funds], PICTON Investments, and Endeavor Catalyst, alongside renewed participation from existing investors—Portage, Diagram, NAventures, National Bank of Canada’s corporate venture capital arm, Fonds de solidarité FTQ and Fondaction.

Since its inception, nesto has stood out through its unique positioning as a leading provider of mortgage technology and financing solutions. Recently, nesto launched Maestro AI, a unique AI-native orchestration platform designed to drastically simplify end to end mortgage operations and modernize financialworkflows.

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 and 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.

With this new capital, nesto will accelerate the development of its technology and AI capabilities, enabling faster onboarding of partners and clients while further scaling its platform across the industry. Today, 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.

*Source: CMHC