Nesto secures nearly $1.5-billion valuation in new Series E round

Montréal-based online mortgage lender Nesto has secured a nearly $1.5-billion CAD valuation as part of a new Series E funding round meant to bring AI into the lending process. The news: Nesto announced the fresh funding, which included $107 million in primary capital and $195 million in secondary capital, on Wednesday morning. Nesto said it will use the money to develop its technology and AI capabilities so it can faster onboard partners and clients while scaling its platform.