Nevis raises $70M to expand its AI platform for wealth advisers

New York-based Nevis, which builds AI software for wealth management firms, has raised $70M in a Series B round led by EQT Ventures. The company announced the funding on Monday.

Two new backers joined: Charles Schwab, one of the largest US brokers, and QuantumLight, the venture fund set up by Revolut founder Nik Storonsky. Existing investors Sequoia Capital, ICONIQ and Ribbit Capital also put in more money.

The round brings Nevis’s total funding to $110M. The startup came out of stealth in December 2025 with $40M, which included a $ 35M Series A led by Sequoia.

Nevis was founded in late 2024 by three former Revolut executives: chief executive Mark Swan, chief product officer Philipp Burda and chief operating officer Ivan Chalov.

Its platform combines customer records, meeting notes, financial planning and account paperwork in one place. AI agents then carry out routine tasks for financial advisers, such as preparing plans and opening client accounts.

According to the company, its agents have handled over 100,000 of these jobs so far. It added that advisers using Nevis can save up to 10 hours a week and hold 30% more meetings with potential clients.

Nevis also said its revenue has grown more than 25 times this year. Over the same period, client assets managed through its platform rose from $50bn to $700bn, and the company now adds about $75bn a month. Customers include Focus Financial Partners, IEQ Capital and United Capital.

“Nevis agents finish the work, so every advisor can give every client the white-glove attention of a full-service team,” Swan said.

Schwab’s investment comes as it takes a firm line on other AI agents. Earlier this month, it said it was blocking outside agents, including Meta’s Muse, from moving client money. Jon Beatty, who heads Schwab’s adviser services business, said the Nevis deal widens the range of AI tools Schwab offers advisers.

EQT Ventures’ head, Carolina Brochado, will take a seat on the Nevis board as part of the deal.

Nevis plans to use the money to add more agent features, connect with more custodians and wealth software, and hire for its product and sales teams.

I am the Editor in Chief for TNW, covering technology not as a parade of launches and valuations, but as a system of influence, persuasion, (show all) I am the Editor in Chief for TNW, covering technology not as a parade of launches and valuations, but as a system of influence, persuasion, and change. I write about startups, venture capital, digital policy, and Europe ecosystem, with an eye on the larger story beneath them: who gets to build the future, who profits from it, and how Europe is learning to speak in a louder voice of its own. Before moving into senior editorial leadership, I've built my career for over +10 years across journalism, storytelling, content strategy, SEO, and digital publishing, with experience in SaaS, hospitality, art, and culture.

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