Nesto Celebrates Five Years Reshaping Property Financing Topography in Canada

Nesto, a Canadian digital mortgage lender, reflected this week on a transformative journey that has reshaped the country’s property financing topography.

Five years in, the Montreal fintech feels this milestone is a testament to the company’s steadfast commitment to innovation and growth.

Nesto today boasts billions in annual mortgage volume. Dating back to 2018, the startup asserts its success trajectory has solidified a status as the prime digital mortgage platform in Canada.

“We are immensely proud of what nesto has accomplished in the last five years, becoming the fastest company in Canadian history to reach the stage of extended lender offering end-to-end mortgage experience,” stated CEO Malik Yacoubi.

The company’s proprietary, end-to-end mortgage technology platform encapsulates acquisition, digital mortgage application, document storage, advisor and underwriting portals, servicing, and more.

Since 2022, nesto’s technology has been integrated into existing financial institutions via the nesto Mortgage Cloud. This turnkey solution enhances partner mortgage operations and replicates the distinctive nesto experience, according to the company.

IG Wealth Management was the inaugural financial institution to utilize the nesto Mortgage Cloud technology.

“Our mission has always been to simplify and empower property financing, and we have remained steadfast in delivering on that promise,” Yacoubi said. “From our humble beginnings as a broker to becoming Canada’s leading digital mortgage lender, our growth and success is a testament to the tireless efforts of our team, the support of our valued partners, and customers’ trust since day one.”

Nesto, with a 310-strong workforce across Canada, has raised successfully mobilized $165 million across three funding rounds, with participation from prominent venture capital firms and financial institutions, including Diagram Ventures, Portage, NAventures (National Bank of Canada’s corporate venture capital arm), BMO Capital Partners, IGM Financial, and Mike Paulus and Mike Rowell.