Nesto Inc.

Based in Canada, Nesto Inc. functions as a digital mortgage lender, offering a seamless, technology-driven experience for consumers seeking mortgage financing across various regions in Canada. Nesto Inc. was founded in 2018 in Montreal, Canada, as a digital mortgage lender specializing in streamlined financing solutions.

The company was established by founders Chase B. , Damien Charbonneau, Karim Benabdallah, and Malik Yacoubi, who serves as CEO. Nesto has successfully raised a total of CAD 80. 00 mn through 4 deals, with the most recent funding round, Series C, occurring on December 13, 2022, and backed by investors including IGM Financial, BMO Capital Partners, and others.

Nesto is a digital mortgage lender that specializes in providing a streamlined and technology-driven mortgage financing experience for consumers in Canada. Its core offerings include traditional fixed-rate mortgages, variable-rate mortgages, and refinancing options targeted at first-time homebuyers and those looking to renew existing mortgages. Utilizing advanced AI algorithms, Nesto helps users access competitive mortgage rates tailored to their financial profiles, thereby simplifying the complexities of mortgage financing, such as the mortgage stress test and amortization periods. The company serves customers across Canadian provinces, including Ontario, Alberta, British Columbia, and Quebec.

Nesto generates revenue primarily through facilitating mortgage transactions between clients and lenders, operating as an online brokerage. The company earns commissions based on the mortgages processed when customers secure financing through its platform. Clients benefit from personalized mortgage rates and expert advice without upfront fees, as the model is commission-based. Additionally, Nesto’s low-rate guarantee and tools like mortgage calculators enhance customer engagement and retention.

Nesto plans to leverage its recent Series C funding of CAD 80. 00 mn, raised in December 2022, to support the development of new mortgage products and expand into additional Canadian provinces. The company aims to enhance its service offerings by introducing innovative solutions that cater to evolving consumer needs. Specific future market targets include increasing its presence in Saskatchewan and Manitoba by the end of 2023, thereby broadening its geographic reach and customer base.