nesto raises $80M Series C financing round

nesto announced the closing of an oversubscribed $80 million Series C financing. The financing round was led by IGM Financial (IGIFF), with support from existing and new investors; Diagram Ventures, Portage, NAventures, National Bank of Canada’s corporate venture capital arm (NTIOF), BMO Capital Partners (BMO), as well as Michael Rowell and Michael Paulus. The Series C financing round will enable nesto to further develop its proprietary technology, expand its marketing capabilities across Canada and launch nesto Mortgage Cloud. nesto intends to offer the nesto Mortgage Cloud to financial institutions in order to support their ongoing digital transformation, search for efficiency and their continuing efforts to modernize their mortgage operations with best-in-class technology for an effortless customer experience. By doing so, nesto will diversify its customer base and revenue streams, and strengthen its position as the leader in digital mortgage lending.