# Nesto Group

> Montreal-based Nesto Group has evolved from a direct-to-consumer digital mortgage broker into a profitable, vertically integrated mortgage technology and financing company. Through nesto, CMLS and Nesto Cloud, it originates and services residential and commercial mortgages, supplies white-label operations and software to financial institutions, and is now pushing AI-assisted underwriting into a market it says includes more than C$80 billion under its administration.

- **Founded:** 2018
- **Headquarters:** Montreal, Canada
- **Founders:** Malik Yacoubi (Co-founder and CEO), Karim Benabdallah (Co-founder and CTO), Damien Charbonneau (Co-founder and COO), Chase Belair (Co-founder and Principal Broker)
- **Team size:** More than 1,000 employees across Canada, according to Nesto Group in 2026
- **Products:** nesto residential mortgages, Nesto Cloud, CMLS commercial and residential mortgage services, Maestro AI
- **Notable:** Acquired CMLS Group in June 2024, combining nesto with Canada's then third-largest mortgage finance company and more than 50 years of operating history., Reported more than C$80 billion in residential and commercial mortgages under administration in 2026., Reported more than C$37 billion in originations during 2026 by June and said the company was profitable.

## Products & services

- **nesto residential mortgages** — Direct and broker-distributed mortgages for purchases, renewals, refinancing and related home-financing needs, supported by licensed mortgage experts and a digital application flow.
- **Nesto Cloud** — A white-label, API-first cloud platform and optional outsourced operation spanning mortgage origination, adjudication, funding and servicing for banks, wealth managers, credit unions and commercial lenders.
- **CMLS commercial and residential mortgage services** — Commercial origination, underwriting, advisory, asset management and servicing plus residential lending through broker channels, added through the CMLS acquisition.
- **Maestro AI** — A Nesto Cloud add-on that reads mortgage documents, applies lender policies and produces auditable underwriting decisions; Nesto markets sub-two-minute underwriting for appropriate files.

## Achievements

- Acquired CMLS Group in June 2024, combining nesto with Canada's then third-largest mortgage finance company and more than 50 years of operating history.
- Reported more than C$80 billion in residential and commercial mortgages under administration in 2026.
- Reported more than C$37 billion in originations during 2026 by June and said the company was profitable.
- Ranked number 10 in Deloitte Canada's 2024 Technology Fast 50 with 2,360% three-year revenue growth.
- Named Canadian Mortgage Lender of the Year by the Canadian Lending Association in 2023 and 2024.
- Nesto was named a Top Mortgage Employer by Canadian Mortgage Professional in 2025.
- CMLS held Morningstar DBRS residential and commercial mortgage servicer rankings and Fitch commercial servicer ratings following the acquisition.

## Latest updates

- **2026-06** — Closed a C$302 million Series E comprising primary and secondary capital at a C$1.47 billion valuation to accelerate Nesto Cloud and AI development.
- **2026-06** — Reported more than C$80 billion under administration, over C$37 billion originated in 2026 to date and profitability.
- **2026** — Introduced Maestro AI, an AI-native underwriting orchestration add-on for Nesto Cloud.
- **2025-06** — CMLS launched commercial mortgage origination in Quebec as Nesto Group expanded its Montreal presence and opened a Quebec City office.
- **2025** — Nesto received Canadian Mortgage Professional's Top Mortgage Employer recognition.
- **2024-12** — Alterna Savings selected Intellifi technology and processing services to modernize its mortgage journey.
- **2024-06** — Acquired CMLS Group, adding commercial mortgages, broker distribution, servicing, software and more than 50 years of institutional expertise.

## Links

- Website: https://nestogroup.ca/
- LinkedIn: https://www.linkedin.com/company/nestogroup-e/
- YouTube: https://www.youtube.com/@nestogroup.e
- Instagram: https://www.instagram.com/nestogroup.e/
- Facebook: https://www.facebook.com/nestogroup.e/

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Profile page: https://yespress.io/nesto-group-e
Published by YesPress — https://yespress.io
Last updated: 2026-08-23