Nesto

Name

Nesto

Legal name

nesto Inc.

Website

https://nesto.ca

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

501–1,000 employees

Ownership category

akta.pro rank

Product category

Online Mortgage Lending

NAICS

Mortgage and Nonmortgage Loan Brokers (522310), Mortgage and Nonmortgage Loan Brokers (52231)

SIC

Loan Brokers (6163), Mortgage Bankers & Loan Correspondents (6162)

akta.pro industry

PRIMARYFSALALAJ

Automated Valuation Models (AVM) & Property Data/Analytics

Financial & Insurance/Mortgage & Housing Finance/Mortgage Technology, Underwriting & Valuation Services (LOS/AUS/Appraisal)

SECONDARYFSALAGAJ

Home Equity Valuation & Collateral Management (AVM/Appraisal/BPO)

Financial & Insurance/Mortgage & Housing Finance/Home Equity Lending & HELOCs

Keywords

• Online mortgage brokerage
• Digital mortgage lending
• Mortgage technology platform
• Home equity lending
• AI mortgage underwriting

Headquarters

HQ city

Montreal

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure, Others

Revenue model

1. Mortgage origination commissions: Earned commission from 20+ Canadian lenders on funded mortgages; nesto is a licensed brokerage across all Canadian provinces (Ontario #13044, BC #X300823, Saskatchewan #316917, New Brunswick #180045101, Nova Scotia #2022-3000221, Newfoundland & Labrador #18-07-NE107-1, plus Alberta, Manitoba, PEI, Yukon, Nunavut, NWT). Commission structure is not passed on to clients (salaried, commission-free experts), supporting a low-rate guarantee.
2. Mortgage servicing and administration: Ongoing management of mortgages under administration, including CMLS Group servicing portfolio; nesto manages over CAD 80 billion in mortgages under administration, generating recurring fee income.
3. Nesto Cloud B2B platform fees (white-label SaaS): White-label, embedded technology suite that financial institutions license to power their own mortgage lending. Revenue grows with the number of institutional partners and the volume of mortgages originated through the platform.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels8 records

Core offering

Nesto is a Montreal-based online mortgage brokerage and lending platform that matches Canadian consumers with the lowest available mortgage rate from a panel of approximately 20 of Canada's largest lenders using an AI-powered rate-matching algorithm, supported by salaried commission-free mortgage experts. The company also operates Nesto Cloud, a white-label B2B mortgage technology suite that financial institutions license to embed digital mortgage origination and AI-driven underwriting (Maestro AI) into their own consumer products.

Product overview

Nesto operates a dual-architecture offering: (1) a direct-to-consumer core platform at nesto.ca — an online Canadian mortgage brokerage and lender that uses an AI-powered algorithm to match borrowers with the lowest rate from a panel of approximately 20 of Canada's largest lenders, supported by sub-products such as nesto HELOC, Cash Back Mortgage, Prime Time Mortgage (Flexitaux), and Purchase Plus Improvement, plus the Mortgage Calculators suite and nesto Academy educational content; and (2) a B2B platform-plus-modules architecture under Nesto Cloud (formerly nesto Mortgage Cloud, launched 2022 and rebranded 2025), which licenses nesto's proprietary digital mortgage technology — including the Maestro AI underwriting engine (2026) built on the CMLS Group acquisition (June 2024) — to financial institutions, brokerages, and credit unions such as IGM Financial. Both arms are unified by the same proprietary AI-driven rate and underwriting technology stack.

Differentiator

Problem solved

Functional benefit

Brands

• Nesto Mortgage Cloud: B2B mortgage technology platform launched in December 2022 that enables financial institutions to modernize mortgage operations, with IGM Financial as its first customer.
• Nesto Cloud
• Maestro AI
• Nesto Group

Products and services

• Nesto Consumer Mortgage Platform Direct-to-consumer online Canadian mortgage brokerage and lending platform that uses an AI-powered algorithm to match borrowers with the lowest available rate from a panel of approximately 20 of Canada's largest lenders; offers a fully digital application with advice from licensed, salaried mortgage experts.
• Nesto Cloud (formerly Nesto Mortgage Cloud) White-label B2B technology suite that enables banks, lenders, brokerages and credit unions to launch and operate their own fully digital, branded mortgage experience powered by nesto's proprietary technology; includes CRM, POS, and back-office workflow tools.
• Maestro AI AI-powered underwriting engine embedded in Nesto Cloud that automates mortgage underwriting by combining AI/ML models with rule-based workflows; reportedly evaluates mortgage deals in under two minutes.
• Nesto HELOC Home equity line of credit product offered through the nesto platform, providing Canadian homeowners with revolving access to home equity.
• Cash Back Mortgage Mortgage product that returns a percentage of the mortgage value as cash to the borrower, offered through the nesto platform's lender panel.
• Prime Time Mortgage (Flexitaux) Variable-rate mortgage product offered via nesto, allowing borrowers to take advantage of prime-rate fluctuations through the Flexitaux structure.
• Purchase Plus Improvement Mortgage product that bundles the purchase price and the cost of planned home improvements into a single loan, offered through the nesto platform.
• Mortgage Calculators Suite Suite of free online mortgage calculators (payment, refinance, renewal, affordability, land transfer tax, CMHC insurance) used to estimate costs and pre-qualify users for nesto's products.
• CMLS Group (Acquired Brand) Canadian independent mortgage finance company acquired by nesto in June 2024, providing institutional mortgage origination, securitization, and underwriting capabilities that underpin Maestro AI within Nesto Cloud.

Quantifiable outcome

• Helped 450,000+ Canadian customers secure a mortgage
• +6 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability6 records

Feature5 records

Partnerships

Four partnerships are on record, tiered flagship / acquired entity (nesto group), strategic gtm / co-marketing partner, major / part of nesto group and core / multi-lender panel providing funding for nesto's origination volume.

• CMLS Groupflagship / acquired entity (nesto group)Strategic or Co-development Partner · 21 June 2024Acquired by nesto in June 2024 to combine complementary mortgage origination and servicing capabilities; cited as a strategic fit for nesto's pivot from direct-to-consumer lender to 'mortgage ecosystem' builder.
• Canada Lifestrategic gtm / co-marketing partnerGTM or Marketing PartnerFeatured integration on nesto.ca as a Canada Life co-branded mortgage partnership, with a dedicated FAQ and landing page for clients of Canada Life.
• Maple Financialmajor / part of nesto groupStrategic or Co-development PartnerMaple Financial merged with nesto as part of the broader Canadian mortgage industry consolidation wave; part of the Nesto Group alongside CMLS Group.
• Big Six Canadian banks (TD, RBC, BMO, BNS, CIBC, NBC) and other major lenders (Desjardins, Tangerine, First National)core / multi-lender panel providing funding for nesto's origination volumeChannel Partner/ Reseller/ DistributorNesto originates mortgages through a panel of more than 20 Canadian lenders — the six largest chartered banks (TD, RBC, BMO, Scotiabank, CIBC, National Bank of Canada) and the top 10 lenders including Desjardins, Tangerine, First National Financial, and nesto itself. nesto does not favour any financial institution in comparing rates for users.

Scale indicators16 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Better.com: US digital mortgage lender using an AI-driven, salaried-expert model similar to nesto's value proposition. Compares directly on product, technology, and consumer brand experience, though Better.com is more US-focused and has had well-publicized execution turbulence.
• Dominion Lending Centres: Canada's largest mortgage brokerage network with thousands of brokers and a national lender panel. Direct competitor for mortgage originations and a potential partner/customer for Nesto Cloud's white-label technology.
• True North Mortgage: Canadian direct-to-consumer mortgage brokerage with a salaried-expert model and broad lender panel access — a very close analog to nesto's D2C value proposition and commission structure within Canada.
• Ratehub.ca: Canadian financial comparison marketplace for mortgages, insurance, and credit cards, with a mortgage brokerage arm. Direct competitor for D2C mortgage demand in Canada using a comparable SEO-, content-, and rate-comparison-led acquisition model.
• Blend: US-based B2B mortgage and consumer banking SaaS platform that powers digital mortgage, deposit, and lending workflows for banks and lenders. Direct analogue to Nesto Cloud's white-label mortgage technology strategy and the B2B pivot nesto is pursuing with Maestro AI.

Emerging players

• Roostify: US-based digital mortgage point-of-sale and automation platform used by banks and credit unions. Direct peer to Nesto Cloud's B2B SaaS offering; both target financial institutions seeking to modernize mortgage origination and underwriting.
• Wealthsimple: Canada's largest independent fintech offering investing, savings, and recently mortgages and lending. Comparable as a Canadian digital-first financial services platform pursuing adjacent products, though not a direct mortgage originator.
• Borrowell: Canadian fintech offering credit scores, loans, and mortgage products. Comparable as a Canadian digital financial services platform serving similar consumers with similar SEO/content-led demand-gen, though with a smaller mortgage book.

Broad incumbents

• SoFi: US digital-first bank and lender offering mortgages alongside student loans, personal loans, and deposit products. Comparable as a publicly traded, vertically integrated digital mortgage and consumer finance platform pursuing both D2C and partner distribution.
• Rocket Companies: Detroit-based parent of Rocket Mortgage, the largest US mortgage originator and a publicly traded mortgage fintech. Comparable as a vertically integrated digital mortgage platform pursuing both D2C and partner/B2B distribution, though operating in a much larger and more competitive US market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/nestomortgages
• Xx.com/nestomortgages
• LinkedInlinkedin.com/company/nesto-ca

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries2 records

Funding overview

Funding rounds8 records

Investors14 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Nesto