Nesto secures nearly $1.5-billion valuation in new Series E round (opens original article in a new tab)

Montréal-based mortgage lender Nesto secured a $1.5-billion valuation in a Series E funding round, including $107 million in primary capital and $195 million in secondary capital, to develop AI technology for faster mortgage approvals.

• Nesto raised $107 million in primary capital and $195 million in secondary capital in its Series E round.
• The funding will be used to enhance AI capabilities for faster mortgage underwriting and platform scaling.
• Nesto's Maestro AI platform aims to reduce underwriting time to under 2 minutes.