Nevis, the AI operating system for wealth management, announced a $70 million Series B funding round on October 26, led by EQT Ventures. The round takes the company’s total funding to $110 million since its founding in late 2024. New investors include The Charles Schwab Corporation and QuantumLight, while Sequoia Capital, ICONIQ and Ribbit Capital all expanded their commitments. Nevis says its revenue has grown more than 25 times in 2026, with assets on its platform rising from $50 billion to $700 billion. Its AI agents handle advisors’ operational work end to end, and the new money will expand agent capabilities, integrations and hiring.
The Round And The Investors
According to the company’s announcement, EQT Ventures led the $70 million round. Carolina Brochado, a partner and head of EQT Ventures, will join Nevis’ board of directors, with EQT Ventures partner Kaushik Subramanian joining as board observer. Brochado said the firm has followed the founders since the company’s early days and wants to help Nevis become the foundational AI platform for the wealth management industry.
The new strategic investors bring industry weight. Schwab serves more than 48 million client accounts, holds $13 trillion in total client assets and supports more than 17,000 independent registered investment advisers. QuantumLight is the fund of Revolut founder and chief executive Nik Storonsky. Jon Beatty, head of Schwab Advisor Services, said the investment expands Schwab’s AI ecosystem and helps advisers operate more efficiently and serve more investors.
Startup funding for AI platforms stayed active through the autumn. Ailytics raised a $7.4 million Series A for its industrial vision AI platform in the same week Nevis announced its round, showing investors still backing applied AI tools with paying customers.
Growth Behind The Raise
Nevis ties the round to rapid growth in 2026. Assets on the platform grew from $50 billion to $700 billion during the year, at a current run rate of $75 billion in new assets added each month. Customers include Focus Financial Partners, IEQ Capital and United Capital, which Nevis describes as some of the largest and fastest-growing firms in the United States.
The company says its AI agents have completed more than 100,000 operational tasks for advisers. Across customer deployments, Nevis says advisers reclaim up to 10 hours every week, increase prospect meetings by 30 percent, generate personalized financial plans and prospect proposals in minutes, and cut account opening from weeks to days. Chief executive Mark Swan said customers measure Nevis in business results: more client calls, hours back every week and accounts opened every day.
What Nevis Agents Do
Nevis brings customer relationship management, meeting intelligence, financial planning and custodial workflows together in a single AI platform. Its agents orchestrate paperwork, signatures and custodial workflows end to end, so advisers spend less time on administration and more time with clients. The company says the platform lets firms serve more clients, take more prospect meetings, deliver a broader range of services and build deeper client relationships.
The funding will expand agent capabilities, deepen integrations across the custodian and wealth technology ecosystem, and grow the company’s product and go-to-market teams. Swan said Nevis wants to make AI agents core infrastructure for advisory firms, giving every adviser the attention of a full-service team for every client.
Why It Matters
Wealth management faces a capacity gap that Nevis is built to close. Brochado pointed to advisers retiring while demand for advice rises, leaving firms needing to serve more clients without adding staff at the same pace. An AI platform that finishes operational work, rather than only drafting it, changes the maths for a firm: each adviser can carry more clients, and smaller firms can offer services once limited to large ones.
Schwab’s participation matters beyond the cheque. As the custodian and platform behind thousands of independent advisers, Schwab’s backing signals that established wealth infrastructure sees agent platforms as partners, not threats. The same week brought another large AI deal in financial services, with Itaú buying AI startup NeoSpace for $589 million, underlining how banks and wealth firms are buying and backing AI capability rather than building it all in-house.
Background
Nevis was founded in late 2024 by Mark Swan, Philipp Burda and Ivan Chalov, former executives at Revolut, the digital bank the company describes as Europe’s most valuable private technology company. The founders are applying their experience building financial products at scale to wealth management, where advisers still lose hours each week to manual processes. Since launch, Nevis has raised $110 million from Sequoia Capital, ICONIQ, Ribbit Capital, EQT Ventures, Charles Schwab and QuantumLight.
Sources: Business Wire: Nevis $70 million round
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