Nevis raises $70M in a Series B round led by EQT Ventures, giving the New York AI startup fresh fuel to automate the paperwork that clogs wealth advisory firms. The company announced the deal on Monday, October 26, 2026. The new money lifts Nevis’s total funding to $110 million in roughly two years since three former Revolut executives launched it.
Nevis Series B at a Glance
- Round size: $70 million Series B
- Lead investor: EQT Ventures
- New investors: Charles Schwab and QuantumLight
- Returning investors: Sequoia Capital, ICONIQ and Ribbit Capital
- Total funding: $110 million
- Platform assets: up from $50 billion to $700 billion in a year
- Reported valuation: about $500 million (not confirmed by the company)
Who Backed the Nevis $70 Million Series B?
EQT Ventures took the lead, and its partner and head, Carolina Brochado, now joins the Nevis board of directors. EQT partner Kaushik Subramanian joins as a board observer. Two new backers also write checks: Charles Schwab, which comes in as a strategic investor, and QuantumLight, the investment fund created by Revolut founder and CEO Nik Storonsky.
Every early investor returned. Sequoia Capital, ICONIQ and Ribbit Capital, who funded Nevis at the seed and Series A stages, all joined the new round. That repeat support signals strong confidence in how fast the startup is growing.
Why Schwab’s Investment in Nevis Matters
Schwab’s stake gives Nevis something money alone cannot buy: distribution. Schwab supports more than 17,000 independent registered investment advisors (RIAs) and serves over 48 million client accounts holding about $13 trillion in client assets. Under the deal, Nevis will extend its AI agents across Schwab’s custodial infrastructure and add new automations for advisors and their firms.
Jon Beatty, head of Schwab Advisor Services, said the partnership helps advisors use AI to work more efficiently, expand their capacity and serve more investors.
Nevis Platform Assets Jump From $50 Billion to $700 Billion
Growth explains the round. Assets managed by advisory firms on the Nevis platform climbed from $50 billion to $700 billion in a single year, and the company says it adds roughly $75 billion more every month. Nevis also points to a 25x jump in revenue.
The startup serves about 20 customers, including United Capital, IEQ Capital, GC Wealth and Focus Financial Partners. A team of roughly 70 people now builds the product, and Nevis has opened a second office in London.
What Does Nevis Do? AI That Finishes Advisor Work
Nevis builds what it calls an AI operating system for wealth management. Instead of adding one more chatbot to an advisor’s screen, its agents complete operational tasks from start to finish. These tasks include opening accounts, drafting meeting notes, filling out forms, entering data and pulling information from disconnected systems.
CEO Mark Swan argues that AI should not replace financial advisors. He wants it to remove the busywork so advisors can spend more time with clients. Brochado backed that view, noting that the average advisor juggles about seven outdated systems to get through a single workflow.
Ex-Revolut Founders Behind the AI Wealth Management Startup
Mark Swan, Philipp Burda and Ivan Chalov worked together at Revolut before leaving to build Nevis full time. They launched the company in October 2024 and came out of stealth in December 2025 with a $35 million Series A on top of an earlier $5 million seed. Reports at that time put the company’s value near $200 million. Fresh reports now place the valuation around $500 million, although Nevis has not confirmed any figure.
Why AI for Financial Advisors Is Attracting Big Money
Wealth management faces a growing capacity gap. Many advisors are retiring while demand for financial advice keeps rising, so firms need software that lets each advisor handle more clients. That shortage makes AI for wealth advisers one of the hottest corners of wealthtech and fintech funding.
The Nevis round also fits a wider pattern of huge AI bets. Investors recently pushed the OpenAI valuation to $1.25 trillion in a $30B raise, and they backed AI startup Lovable with $400 million at a $13.3 billion valuation. Nevis shows the same appetite for focused AI companies that solve one industry’s expensive problems.
What Nevis Plans to Do With the $70M
Nevis will use the funding to build out its AI agents, deepen its Schwab integration and grow its enterprise customer base in the United States and the United Kingdom. With assets on the platform rising by tens of billions each month, the company must scale its engineering, deployment and support teams fast to keep up.
Frequently Asked Questions About the Nevis Funding
How much did Nevis raise?
Nevis raised $70 million in a Series B round, which brings its total funding to $110 million.
Who led the Nevis Series B?
EQT Ventures led the round, with Charles Schwab, QuantumLight, Sequoia Capital, ICONIQ and Ribbit Capital also taking part.
What is Nevis’s valuation?
Nevis has not announced a valuation. Reports citing a person familiar with the matter put it near $500 million.
What does Nevis do?
Nevis builds an AI operating system that automates operational work for wealth management firms and registered investment advisors.
This article reflects publicly announced details as of October 27, 2026. Valuation figures come from unconfirmed reports.
