Nevis, a New York company building AI software for wealth advisers, has raised a $70 million Series B. EQT Ventures led the round. The Charles Schwab Corporation came in as a strategic investor, along with QuantumLight, the fund started by Revolut chief executive Nik Storonsky. Sequoia Capital, ICONIQ and Ribbit Capital, all existing backers, put in more.
That brings total funding to $110 million for a company founded in 2024. Valuation was not disclosed.
What Nevis actually sells
Wealth advisers spend a surprising share of the week on work clients never see. Meeting notes, plan drafts, prospect proposals, account opening forms, custodian paperwork. Most firms stitch this together across a CRM, a planning tool, a notetaker and the custodian’s portal.
Nevis folds those into one system aimed at registered investment advisers and larger wealth firms. Its AI agents do the tasks end to end. They draft financial plans, build proposals for prospects and push account openings through. The pitch is that the agent finishes the job instead of handing the adviser a summary to act on.
Customers named in the announcement include Focus Financial Partners, IEQ Capital and United Capital.
The numbers Nevis is putting out
Assets held by firms on the platform grew from $50 billion to $700 billion over 2026, according to the company, and it says about $75 billion is being added each month. Revenue grew more than 25 times this year. Its agents have finished over 100,000 operational tasks. Nevis also claims advisers win back up to 10 hours a week, prospect meetings rise by about 30%, and account opening drops from weeks to days.
These are company figures, and “assets on platform” measures what clients manage, not what Nevis earns. Still, a jump from $50 billion to $700 billion in under a year says the product is getting through procurement at serious firms.
Why Schwab’s check matters
Schwab is the largest custodian for independent advisers in the US. Its money comes with a closer working tie to the platform Nevis needs most. For a tool that automates account opening and custodial workflows, a direct line into the custodian is worth more than the cash.
Carolina Brochado of EQT Ventures joins the board, and EQT’s Kaushik Subramanian becomes an observer.
Founders from Revolut
All three founders came from Revolut. Mark Swan is chief executive, Philipp Burda runs product and Ivan Chalov is chief operating officer. That background shows in the speed. Building a consumer fintech at Revolut’s pace and selling into the conservative adviser market are different jobs, but the team seems to have found a niche where the paperwork burden is heavy and buyers are ready.
The new money goes into more agent capabilities, deeper custodian and wealthtech integrations, and bigger product and sales teams.
Adviser software has been a crowded, slow-moving market for years. Agents that complete work rather than assist with it give a newcomer a real opening. The question for Nevis is whether incumbents like Salesforce and the big planning vendors can ship the same thing before Nevis locks in the custodians.