The Montréal fintech now manages over $80 billion in mortgages and has its sights on broader financial services
Nesto, the Montréal-based mortgage technology and financing company, has closed a $302 million Series E financing round. The round values the company at $1.47 billion and combines primary and secondary capital.
The Nesto Series E funding draws in several new institutional investors. They include:
- La Caisse (formerly CDPQ)
- Fidelity Investments Canada ULC
- PICTON Investments
- Endeavor Catalyst
Existing backers also participated:
- Portage
- Diagram
- National Bank of Canada’s venture arm NAventures
- Fonds de solidarité FTQ
- Fondaction
“We have executed with focus and consistency on our mission to build the mortgage ecosystem of the future,” said Malik Yacoubi, co-founder and chief executive of Nesto. “This new capital will allow us to accelerate our technology and AI development while onboarding partners at turbo speed.”
What the Nesto Series E funding will be used for
Nesto said the capital will go toward expanding its technology and AI capabilities. The company also plans to speed up onboarding for new partners and clients and scale its platform across the broader financial services sector.
The company recently launched Maestro AI, described as an AI-native orchestration platform designed to simplify end-to-end mortgage operations.
The company reported more than $37 billion in originations so far in 2026 and manages over $80 billion in mortgages under administration.
La Caisse leads new investor group
Kim Thomassin, executive vice-president and head of Québec at La Caisse, said the investment reflects confidence in Nesto’s approach to mortgage modernization.
“By simplifying and modernizing the mortgage experience, nesto is playing a tangible role in transforming the lending sector in Canada,” Thomassin said.
Nesto operates across three brands — nesto, CMLS, and Nesto Cloud. The CMLS acquisition, completed in June 2024, marked a turning point for the company’s commercial lending operations. The acquisition pushed its combined mortgages under administration past $60 billion at the time.
Nesto Series E funding and the push beyond mortgages
The company is now positioning itself to move beyond residential lending. Nesto said it plans to bring its AI-powered platform to the wider financial services market.
That expansion follows a string of strategic moves in recent years. In October 2025, Nesto Group made a strategic equity investment in Maple Financial, an alternative mortgage lender, through its CMLS subsidiary. A year earlier, the company had entered the broker channel through an exclusive alliance with M3 Group, giving over 8,500 M3 brokers access to its products.
Nesto has been named to Deloitte’s Fast 50 list of Canada’s fastest-growing technology companies for three consecutive years. The company operates nationwide and is headquartered in Montréal. Nesto Group’s next phase will focus on deploying its AI platform across financial services beyond the mortgage market.
