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Nesto raises USD 80 million in a Series C funding round
Neobanks
Dec 13, 2022
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Dec 13, 2022

Nesto raises USD 80 million in a Series C funding round

Funding

  • Nesto, a Canadian online mortgage lender , raised USD 80 million in a Series C funding round led by IGM Financial, with participation from new and existing investors such as Diagram Ventures, Portage, National Bank of Canada, and BMO Capital Partners. The company’s total funding stands at USD 151.4 million.

  • It aims to use the fresh funds to further develop its proprietary technology, expand its marketing capabilities across Canada, and launch nesto Mortgage Cloud.

  • Nesto Mortage Cloud is a white-label platform designed for financial institutions to offer an end-to-end digital mortgage service to their customers. With this launch, the company hopes to diversify its customer base and revenue streams.

  • Founded in 2018, nesto offers personalized mortgages to retail customers through its proprietary AI-powered online lending platform. It also has a network of over 250 advisors to assist customers with the mortgage financing process. 

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