AI wealth-management startup Nevis raises $70 million Series B two years after founding

Nevis, a US-focused maker of artificial intelligence software for wealth management firms that was founded in 2024, raised a $70 million Series B led by EQT Ventures, the company said in a blog post dated October 2026. Charles Schwab joined as a strategic investor, and the round brings total funding to $110 million.

How it started

Mark Swan, the chief executive and a co-founder, wrote in the post that he, Philipp Burda and Ivan Chalov founded Nevis two years ago "with a shared conviction: AI could fundamentally transform what financial advisors and wealth management firms are capable of achieving." The founders knew Nik Storonsky, the founder and chief executive of Revolut, "from our time at Revolut," Swan wrote.

The company describes itself as "the AI operating system for wealth management." According to the post, it brings customer relationship management, meeting intelligence, financial planning and custodial workflows together in one platform, with AI agents that complete operational work end to end. Swan wrote that the founders built the company around the idea that financial advice is human-led and that AI should support advisors rather than replace them.

Swan also described a problem he saw in the industry: advisors "navigate dozens of disconnected systems and spend valuable time on manual processes," and the first wave of AI "only added more point solutions, from meeting note-takers to document parsers."

How it grew

Nevis said assets on its platform grew from $50 billion to more than $700 billion over the past year and that it is now adding $75 billion every month. These are assets of its customers' clients, not of Nevis. Revenue grew more than 25 times, its AI agents completed more than 100,000 operational tasks, and the team has 70 people, Swan wrote. The company did not publish revenue in dollars.

Named customers in the post include Focus Financial Partners, IEQ Capital and United Capital. Swan wrote that advisors using the platform are "reclaiming up to 10 hours every week" and "taking 30% more prospect meetings." The company's customers page lists more than $700 billion in assets across Nevis customers and 90% weekly active usage. These are company-reported figures that FinanceInTime could not check independently.

Total funding of $110 million after a $70 million round implies about $40 million raised before this round, a figure computed from the two numbers in the post.

What the investors say

EQT Ventures led the round and Carolina Brochado, partner and head of EQT Ventures, joins the board of directors; Kaushik Subramanian joins as a board observer. QuantumLight, the venture firm founded by Storonsky, joined the round. Sequoia Capital, ICONIQ and Ribbit Capital each increased their investment, according to Swan.

Jon Beatty, head of Schwab Advisor Services, was quoted in the post as saying: "We've built an AI ecosystem that gives advisors greater choice and access to capabilities that can help them run and grow their firms." The post says Schwab supports more than 17,000 independent registered investment advisers and that the partnership would extend Nevis agents across Schwab's custodial infrastructure.

What the founders say

Swan wrote that the funding "marks the beginning of our most ambitious chapter yet." He described what he saw as the industry's problem before Nevis: "the existing technology paradigm was fundamentally broken."

What's next

The company said it plans to accelerate development of its AI agents and expand across the entire wealth management technology stack. Swan wrote that the ambition is to make Nevis "the operating system for the global wealth management industry." That is the company's stated goal, not an outcome the post demonstrates.

The post did not disclose a valuation.