Nevis, a New York company that builds AI software for wealth management firms, has raised a $70m Series B led by EQT Ventures. Co-founder and chief executive Mark Swan announced the round on 26 October 2026.
Charles Schwab joined as a new strategic investor, as did QuantumLight, the venture firm set up by Revolut founder and chief executive Nik Storonsky. Existing investors Sequoia Capital, ICONIQ and Ribbit Capital all increased their investment. The round brings Nevis's total funding to $110m in the two years since it was founded.
Nevis did not disclose a valuation. According to TechStartups, Fortune reported that the round values the company at about $500m, citing a person familiar with the deal.
“Nevis is helping firms serve more clients and scale efficiently.”Carolina Brochado, Partner and Head of EQT Ventures
What Nevis does
Nevis calls its product an AI operating system for wealth management. It brings customer relationship management, meeting notes, financial planning and custodial paperwork into a single platform, and uses AI agents to complete operational tasks from start to finish, such as preparing client documents, drafting proposals and handling account-opening forms.
The company says advisers using it save up to 10 hours a week, take 30% more prospect meetings and open client accounts in days rather than weeks. These figures come from the company. Its customers include Focus Financial Partners, IEQ Capital and United Capital, and Fortune reported that it has about 20 customers, according to TechStartups.
Swan, Philipp Burda and Ivan Chalov founded the company after working together at Revolut. Swan wrote that Nevis now has 70 employees.
Growth since the Series A
Nevis came out of stealth in December 2025 with a $35m Series A from Sequoia Capital, ICONIQ and Ribbit Capital, TechStartups reported. At that time its early customers represented more than $50bn in client assets.
The company says assets held by advisory firms using its software have since grown to more than $700bn, with about $75bn being added each month, and that revenue has grown more than 25 times. Its AI agents have completed more than 100,000 operational tasks. These assets belong to the firms' clients, not to Nevis, and the company did not disclose its revenue.
Schwab, which supports more than 17,000 independent registered investment advisers, plans to let Nevis agents work across its custodial infrastructure. Jon Beatty, head of Schwab Advisor Services, said the investment and partnership expand the range of AI tools available to advisers.
What the money is for
Nevis will use the money to speed up development of its AI agents and to extend its platform across the whole wealth management technology stack.
Carolina Brochado, partner and head of EQT Ventures, joins the Nevis board, with Kaushik Subramanian as a board observer. Brochado pointed to a growing capacity gap in the industry, with advisers retiring as demand for advice rises.
Company website: neviswealth.com