The people
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Working at nesto
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On the TechTO stage
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About
Malik Yacoubi and Karim Benabdallah founded nesto in Montreal in 2018 to sell mortgages online rather than through a branch, joined that year by Chase Belair and Damien Charbonneau. It moved from broker to direct lender by 2022 and bought CMLS Group in 2024, which took it into mortgage servicing at scale. It now says it administers over $80 billion in mortgages, operates nationally and is profitable. Yacoubi gave TechTO a full Founder Journey episode in February 2023.
Backers
Investors include Investissement Québec, IGM Financial and Diagram Ventures; the June 2026 Series E investor list is not fully published
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Quick answers
What does nesto do?
It originates and services residential mortgages online across Canada. It started as a digital broker in 2018 and became a direct lender by 2022.
Who founded nesto?
Malik Yacoubi and Karim Benabdallah in 2018, joined the same year by Chase Belair and Damien Charbonneau.
How big is nesto?
More than $80 billion in mortgages under administration, with a $302-million Series E at a $1.47-billion valuation announced in June 2026.