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Online mortgage lender Nesto acquires mortgage finance company CMLS Group

In a significant move within the Canadian mortgage industry, online mortgage lender Nesto has acquired CMLS Group, a major player in mortgage financing. This acquisition aims to strengthen Nesto's position in the market and expand its range of services. Nesto, known for its digital-first approach, plans to leverage CMLS's established infrastructure to enhance its offerings and reach more customers across Canada.

The deal is expected to bring various benefits to both companies. For Nesto, acquiring CMLS Group means gaining access to a broader range of mortgage products and services, which can attract a wider customer base. On the other hand, CMLS Group will benefit from Nesto's advanced technology and digital expertise, which can streamline operations and improve customer experience.

This acquisition reflects the growing trend of digital transformation in the financial services sector, where companies are increasingly adopting technology to improve efficiency and meet customer expectations. By combining Nesto's innovative platform with CMLS's extensive experience in mortgage financing, the newly merged entity aims to offer more competitive and comprehensive mortgage solutions to Canadians.

The financial details of the acquisition have not been disclosed, but the strategic partnership is expected to drive significant growth for both companies. This move highlights Nesto's commitment to expanding its market presence and enhancing its service capabilities, positioning itself as a leading player in the Canadian mortgage market.



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