Nevis Raises $70 Million to Automate Wealth Advisory Work

By Daniel Okafor

Nevis raised $70 million in a Series B led by EQT Ventures, bringing the startup's total funding to $110 million. CEO and co-founder Mark Swan disclosed the financing in a company blog post on October 26, 2026.

Charles Schwab, Sequoia Capital, ICONIQ, QuantumLight and Ribbit Capital also participated. Nevis said the financing represented $110 million in total funding across the company’s first two years.

Who is backing Nevis?

EQT Ventures led the investment. Carolina Brochado, Partner and Head of EQT Ventures, will join Nevis's Board of Directors, while Kaushik Subramanian will join as Board Observer. Swan wrote that EQT followed Nevis from its early days.

“Mark, Philipp and Ivan have built an exceptional AI platform at a time when wealth management faces a growing capacity gap, with advisors retiring as demand for advice rises,” Brochado said in the announcement.

She said Nevis helps firms serve more clients and scale efficiently. She expects EQT to support its ambition to become the industry's foundational AI platform. Swan said EQT's global network across wealth management and financial services will be invaluable as Nevis scales.

Charles Schwab joined as a strategic investor. The announcement says its deepened partnership will extend Nevis's agents across Schwab's custodial infrastructure, adding new automations for advisors and their firms.

Schwab says it supports more than 17,000 independent registered investment advisors, over 48 million client accounts and $13 trillion in client assets across its business.

Jon Beatty, Head of Schwab Advisor Services, said Schwab has built an AI ecosystem intended to give advisors greater choice and access to capabilities that can help them run and grow their firms.

“Our investment in and partnership with Nevis expands that ecosystem, helping advisors harness AI to operate more efficiently, increase their capacity and ultimately serve more investors,” Beatty said.

QuantumLight, the venture firm founded by Revolut founder and CEO Nik Storonsky, also joined the round. Swan said he and co-founders Philipp and Ivan knew Storonsky from their time at Revolut, where they learned what it takes to build and scale a financial technology company.

Sequoia Capital, ICONIQ and Ribbit Capital each increased their investments. Swan described the three firms as instrumental partners throughout Nevis's journey.

What does Nevis automate?

Nevis combines CRM, meeting intelligence, financial planning and custodial workflows in one platform. Its AI agents complete operational work end-to-end. The company's stated mission is to let financial advisors spend more time with clients, deliver better advice and grow their businesses.

Swan wrote that he, Philipp and Ivan founded Nevis two years ago around three beliefs:

• Financial advice is human-led, and AI should empower advisors rather than replace them.
• The industry's existing technology was fundamentally broken, leaving advisors to navigate dozens of disconnected systems, while the first AI wave added only point solutions such as meeting note-takers and document parsers.
• The largest opportunity lies in a single integrated platform connecting a firm's data, systems and workflows, so agents can complete operational work while advisors focus on clients, advice and growth.

At the center is a linked operating model that connects firm data, systems and workflows, allowing agents to complete operational work while advisors retain responsibility for clients, advice and growth.

Unlike the meeting note-takers and document parsers Swan criticized, Nevis aims to finish multi-step operational work across connected systems. The company argues that fragmented advisory technology requires one integrated platform rather than isolated AI point solutions.

Nevis says it works with some of the largest and fastest-growing US wealth management firms, including Focus Financial Partners, IEQ Capital and United Capital. Its customers represent more than $700 billion in assets.

How strong are the reported results?

According to Nevis, advisors using the platform:

• Reclaim up to 10 hours every week.
• Take 30% more prospect meetings.
• Generate financial plans and proposals in minutes.
• Open client accounts in days instead of weeks.

Swan reported that assets on Nevis grew from $50 billion to more than $700 billion. The platform was adding $75 billion every month.

Swan also said revenue has grown more than 25x, Nevis's AI agents have completed over 100,000 operational tasks, and the company has shipped dozens of new products. Nevis employs 70 people.

What changes with the new capital?

New capital will accelerate the development of Nevis's AI agents and expand the platform across the wealth-management technology stack.

Swan said he believes AI will fundamentally redefine what financial advisors and wealth management firms can achieve. He described a future in which every advisor can serve more clients and deliver a broader range of services, while firms grow faster and operate at significantly higher margins.

The stated ambition is to make Nevis the operating system for the global wealth management industry. The next checkpoint is whether Nevis can convert Schwab's advisor reach and $75 billion in monthly asset additions into durable growth at a 70-person scale.