Nevis raises $70M in Series B funding backed by Charles Schwab as AI wealth management platform grows to $700B in assets

The latest financing brings Nevis’ total funding to $110 million since its founding in 2024. The round drew participation from QuantumLight, the investment firm founded by Revolut CEO Nik Storonsky, alongside returning investors Sequoia Capital, ICONIQ, and Ribbit Capital.

“Today, I’m excited to announce that Nevis has raised a $70 million Series B, led by EQT Ventures, with participation from Charles Schwab, Sequoia Capital, ICONIQ, QuantumLight, and Ribbit Capital. This brings our total funding to $110 million in just two years since founding the company,” Nevis co-founder and CEO Mark Swan said in a blog post.

The latest funding follows Nevis’ emergence from stealth less than 11 months ago, when it raised $35 million in Series A funding from Sequoia Capital, ICONIQ, and Ribbit Capital to bring AI automation to wealth management. TechStartups covered the company’s launch in December 2025, when Nevis had raised $40 million in total funding, and its early customers represented more than $50 billion in client assets.

Since then, Nevis has reported remarkable growth. The company says its revenue has increased more than 25-fold in 2026, with client assets associated with firms using its platform climbing from $50 billion to $700 billion. Nevis reports that roughly $75 billion in assets are being added to the platform each month. These assets belong to clients of advisory firms using Nevis’ software, not to Nevis itself.

The startup’s customers include major wealth management firms such as Focus Financial Partners, IEQ Capital, and United Capital. Nevis currently serves about 20 customers, according to Fortune, a relatively small base for a platform connected to such substantial client assets.

From Revolut executives to a $500 million AI startup

Founded in October 2024 by former Revolut executives Mark Swan, Philipp Burda, and Ivan Chalov, Nevis is building software that handles the administrative work financial advisors spend hours completing every week.

Nevis founders

The platform combines customer relationship management, meeting intelligence, financial planning, and account administration. Its AI agents can prepare client documents, generate financial proposals, coordinate signatures, and process account-opening paperwork across connected systems.

Nevis says its agents have completed more than 100,000 operational tasks. Across customer deployments, the company reports that advisors can save up to 10 hours per week, increase prospect meetings by 30%, and reduce account-opening timelines from weeks to days. These performance figures are company-reported, not independently audited.

“Our customers measure Nevis in business results: more client calls, hours back every week, and accounts opened every day. Nevis agents finish the work, so every advisor can give every client the white-glove attention of a full-service team,” said Swan, Nevis CEO and co-founder.

The founders’ experience at Revolut helped shape the business. Swan previously worked on automating internal financial operations using AI, an experience that exposed opportunities to replace repetitive manual processes across traditional financial institutions.

Schwab’s participation gives Nevis access to a major player in the financial advisory business. The brokerage supports more than 17,000 independent registered investment advisors and serves over 48 million client accounts.

“We’ve built an AI ecosystem that gives advisors greater choice and access to capabilities that can help them run and grow their firms. Our investment in and partnership with Nevis expands that ecosystem, helping advisors harness AI to operate more efficiently, increase their capacity and ultimately serve more investors,” said Jon Beatty, Head of Schwab Advisor Services.

The investment arrives as wealth management faces a staffing challenge. Research from McKinsey projects a shortage of roughly 100,000 financial advisors by 2034, with an aging workforce and rising demand for financial advice pressuring existing firms. Nevis bets that automation can help close part of that gap without replacing advisors.

The company plans to spend its new funding on developing more capable AI agents, integrating its software with financial custodians, and hiring across engineering, product development, and sales.

As part of the deal, EQT Ventures partner Carolina Brochado will join Nevis’ board, with fellow partner Kaushik Subramanian serving as a board observer.

For Nevis, the larger test is whether its early success can translate into broader adoption across an industry where client trust, data security, and regulatory compliance remain major concerns. Its growth suggests financial advisory firms are increasingly willing to let AI handle operational work, leaving human advisors to focus on investment decisions and client relationships.