nesto, a Montréal mortgage technology and financing platform, closed a C$302m (about $220m) Series E round at a C$1.47bn (about $1.07bn) valuation, announced on 10 June 2026. The round combines primary and secondary capital, and neither La Caisse's release nor Pulse 2.0 gave the split. No lead investor was named.
New investors are La Caisse, formerly CDPQ, certain funds of Fidelity Investments Canada, PICTON Investments and Endeavor Catalyst. Returning investors are Portage, Diagram, NAventures (the venture arm of National Bank of Canada), Fonds de solidarité FTQ and Fondaction. Pulse 2.0 dated its report 13 June.
“a Montréal-based fintech that stands out for its business model and innovative approach”Kim Thomassin, Executive Vice-President and Head of Québec, La Caisse
What nesto does
nesto calls itself Canada's leading mortgage technology and financing platform. It operates under the CMLS, nesto and Nesto Cloud brands. It says it administers more than C$80bn in residential and commercial mortgages, has originated more than C$37bn this year, operates nationwide and is profitable. Those figures are the company's and were not independently verified.
It describes itself as the fastest-growing mortgage lender in Canada and says Deloitte named it to its Fast 50 for three consecutive years. The release cites Canada's mortgage industry at roughly C$2.1tn, sourced to the Canada Mortgage and Housing Corporation.
The company recently introduced Maestro AI, an AI-native orchestration platform for mortgage operations, alongside Nesto Cloud, its AI-powered lending platform.
The release did not say how many customers or partner financial institutions nesto serves, and did not name the other co-founders besides Yacoubi. Its description of itself as the fastest-growing mortgage lender in Canada is a company claim.
What the money is for
nesto said it will develop its technology and AI capabilities, onboard partners and clients faster, and scale its platform across the industry, expanding beyond mortgages into broader financial services.
Malik Yacoubi, co-founder and chief executive, said the company had executed with focus and consistency on its mission to build the mortgage ecosystem of the future. He said the new capital will allow it to accelerate technology and AI development while onboarding partners at turbo speed.
Who invested
Kim Thomassin, executive vice-president and head of Québec at La Caisse, said the investment reflects confidence in nesto, "a Montréal-based fintech that stands out for its business model and innovative approach." La Caisse's release describes the company as playing a tangible role in transforming Canada's lending sector.
The sources opened did not report the size of each investor's contribution, nor how much of the C$302m is new money for the company as opposed to shares sold by existing holders.
The funding so far
Neither La Caisse's release nor Pulse 2.0 listed nesto's earlier rounds, total funding or headcount, so the history field is empty. The company calls the round a Series E, and the C$ figures are used here as announced.
The valuation of C$1.47bn is stated in the company's announcement. The dollar conversions in this article are approximate and use the announcement-date exchange rate.
Company website: nesto.ca