Nevis raises $70M to expand AI platform for wealth management

Securing major new backing

New York-based Nevis recently announced it raised $70M in a Series B funding round. The investment was led by EQT Ventures and included participation from two new backers: Charles Schwab and QuantumLight. These new partners join a list of existing investors that includes Sequoia Capital, ICONIQ, and Ribbit Capital.

This latest injection of capital brings the total funding for the startup to $110M. The company previously emerged from stealth in December 2025 with $40M in funding, which included a $35M Series A led by Sequoia. The new capital is intended to fuel the company's expansion into new markets and product features.

The investment comes at a time of rapid growth for the firm. According to the company, its revenue has increased more than 25 times this year alone. The startup is positioning itself as a primary infrastructure layer for the next generation of wealth management technology.

How the AI platform functions

Nevis provides software designed to consolidate the disparate data points of wealth management into a single location. The platform integrates customer records, meeting notes, financial planning data, and account paperwork. By centralizing these elements, the software creates a foundation for automated workflows.

The core of the technology involves AI agents that perform routine administrative tasks for financial advisers. These agents are capable of preparing complex financial plans and opening new client accounts. To date, the company reports that its agents have successfully completed over 100,000 of these specific jobs for its users.

By automating these repetitive tasks, the platform aims to remove the friction of manual paperwork. The goal is to allow human advisers to focus on high-level strategy rather than data entry. This shift allows firms to provide a more consistent experience for their clients across different types of accounts.

Impact on wealth management

The practical benefits for financial advisers are centered on time management and client capacity. The company claims that advisers using the Nevis platform can save up to 10 hours of work every week. This time savings directly translates into the ability to hold 30% more meetings with potential clients.

For the firms involved, the scale of adoption is already significant. Client assets managed through the Nevis platform rose from $50bn to $700bn over the course of the year. The company currently adds approximately $75bn in new assets every month as it continues to onboard more users.

Current customers include established firms such as Focus Financial Partners, IEQ Capital, and United Capital. These organizations are using the tool to manage the increasing complexity of modern portfolios. The software helps these firms maintain a high level of service as their asset bases grow larger.

Strategic moves and expansion

The involvement of Charles Schwab is a notable strategic move for the industry. Schwab has recently taken a firm stance on AI agents, specifically blocking outside agents from moving client money. Jon Beatty, who leads Schwab’s adviser services business, noted that the Nevis deal expands the specific range of AI tools the firm offers to its advisers.

Nevis was founded in late 2024 by three former executives from Revolut: Mark Swan, Philipp Burda, and Ivan Chalov. The company is now looking to use its new funding to hire for its product and sales teams. They also plan to connect the platform with more custodians and existing wealth software systems.

As part of the Series B deal, Carolina Brochado, the head of EQT Ventures, will take a seat on the Nevis board. This move signals a commitment to long-term governance as the company scales. The leadership team aims to ensure that every advisor can provide what Swan calls "white-glove attention" to every client.

The road ahead for AI agents

The expansion of Nevis highlights a growing trend where AI agents are used to handle the heavy lifting of professional services. By automating the