Nevis raises $70M to automate wealth management operations

Nevis, a maker of AI tools for wealth managers, said it has raised $70 million in a Series B round led by EQT Ventures, bringing the company’s total raised to $110 million within two years of its founding, according to the announcement. New strategic investors include Charles Schwab, which serves more than 48 million client accounts and $13 trillion in total client assets, and QuantumLight, a fund started by Revolut founder and chief executive Nik Storonsky. Existing backers Sequoia Capital, ICONIQ and Ribbit Capital also added to their investments.

Nevis was started in late 2024 by former Revolut executives Mark Swan, Philipp Burda, and Ivan Chalov. Wowtale reported that Fortune put the Series B valuation at $500 million, citing unnamed sources, but Nevis has not confirmed the figure.

The software combines customer-relationship management, meeting intelligence, financial planning, and custodial workflows in one place, and its AI agents handle operational work from start to finish. The company says advisors get back as much as 10 hours each week and can open accounts in days rather than weeks. Revenue rose more than 25-fold in 2026, and platform assets climbed from $50 billion to $700 billion, adding roughly $75 billion each month, according to the announcement. The agents have completed more than 100,000 tasks for clients such as Focus Financial Partners, IEQ Capital and United Capital. CEO Mark Swan said customers measure Nevis in business results: “more client calls, hours back every week, and accounts opened every day.”

Carolina Brochado, partner and head of EQT Ventures, is joining Nevis’s board, while Kaushik Subramanian, also a partner at the firm, becomes a board observer, the announcement said. Brochado said the founders “have built an exceptional AI platform at a time when wealth management faces a growing capacity gap,” with advisors retiring as demand for advice grows. Jon Beatty, who leads Schwab Advisor Services, said the partnership “expands that ecosystem, helping advisors harness AI to operate more efficiently, increase their capacity and ultimately serve more investors.”

The funding will go toward building out agent capabilities, connecting more deeply with custodian and wealth-tech systems, and growing product and go-to-market teams, according to the announcement. Wowtale named Jump as the closest direct rival in advisor-facing AI software; Jump took in $80 million in a Series B from Insight Partners in February and supports more than 27,000 advisors overseeing $12 trillion in assets.