The Caisse de Depot made headlines earlier this year when it announced a multi-bullion investment in public transit in Montreal, but Quebec's pension fund is also looking at investments that find in the palm of your hand.

On Wednesday the Caisse announced it is investing $40 million in an app that will help you find the cheapest airfares.

"The right sector, the right tool, the right target market. So we're quite excited about it," said Christian Dubé, Executive VP of the Caisse de Depot.

Quebec's pension fund expects the app will grow.

Hopper launched early this year and now handles $1 million in flight sales each day, and is adding 1 million users each month.

"This application has been done solely on the mobile to target the millennials," said Dubé.

Five other investment funds which were already raising capital for Hopper have pitched in an additional $42 million.

Hopper's CEO Frederic Lalonde said the app is designed to take what can be a confusing experience and make it simple -- and accurate.

"[Consumers] are kind of struggling and bouncing around through all these websites. So we looked at that and said that's a problem that's suited for data. We could engineer our way into a much better user experience, that's on the consumer's side," said Lalonde.

What makes Hopper unique is a feature that tells you the best time to buy your ticket.

"In a given month we will process 300 billion flight prices that were shopped around the world. And with that, we build a forecast that is accurate to up year in advance, to the day, within 5 dollars," said Lalonde.

Fund director Thomas Birch said Hopper is being smart about handling data.

"The best thing about Hopper is it's all about math. They have 5.3 trillion records of every single flight purchased in the world for the last five years.We can see the growth month over month, day over day, year over year, so it's a very solid investment for the Caisse," said Birch.

Lalonde said the funding will help Hopper compete against more establish companies, and keep Quebecers employed.

"The best way to create value for the Quebec economy, and our investors which include basically every citizen in Quebec now, is to get the best talent in the world working for this company," said Lalonde.