Nevis launches with $35M in funding from Sequoia, ICONIQ, and Ribbit to bring AI automation to wealth management

Nevis is stepping into the wealth-management tech market with a big lift. The AI startup launches today with a $35 million Series A from Sequoia Capital, ICONIQ, and Ribbit Capital. The round brings the company’s total funding to $40 million, less than a year after its founding, the company announced Monday.

The startup was created by former Revolut executives Mark Swan, Philipp Burda, and Ivan Chalov, who spent years building products for a global banking audience. They’re now turning that background toward one of the industry’s most complex problems: wealth advisors drowning in paperwork and fragmented tools.

The timing tracks with what’s happening across the advisor market. Americans rely heavily on financial advisors—more than 50 million households work with one—and the pool of clients with meaningful investable assets keeps growing. Yet advisors often spend most of their day on administrative work rather than helping clients plan for retirement, fund education, or manage a business. Many firms call this the “capacity problem,” where demand grows but advisor time doesn’t.

With $35M in Series A funding, Revolut-founded startup Nevis aims to become the operating system for wealth management

Nevis is trying to break that bottleneck. The company says its AI platform automates the operational load that eats up as much as 80% of an advisor’s day. That includes meeting preparation, follow-up tasks, and workflows tied to opening accounts or managing documentation with custodians. By handling operational work end-to-end, the platform aims to give advisors more time with clients and help firms scale without adding large support teams.

“We’re building a future where every financial advisor is supported by an AI platform that can actually complete operational tasks end-to-end. From helping advisors prepare for client meetings to opening custodian accounts, Nevis streamlines the workflows that consume the majority of an advisor’s time,” said Mark Swan, CEO of Nevis. “With this level of automation, advisors can focus on what matters most: delivering best-in-class client service and growing their business.”

The company is already working with firms representing more than $50 billion in client assets. That roster spans national RIAs such as United Capital and Apollon Wealth Management, as well as firms that serve ultra-high-net-worth families, including GC Wealth. Early customers describe the platform as a way to unify what had been scattered systems.

“Nevis will completely transform our technology stack, updating it for the future with critical AI-enabled features that will have a meaningful impact on how we do our jobs every day and service clients,” said Jim Rivers, President of United Capital, which manages $24 billion and serves more than 14,000 clients. “This will give everyone more time to spend with clients.”

“We’ve explored every so-called ‘AI wealth tech,’ but Nevis stood out for being the real thing, a purpose-built, modern platform reimagining the advisor experience from the ground up,” added Dave Breslin, Executive Vice President of GC Wealth and former SVP at First Republic. “Most solutions either try to automate one small part of the process or modernize old software. Nevis felt different — a cohesive, intelligent platform built for the next decade of wealth management.”

Investors say the company’s early traction comes from its focus on unifying fragmented advisor workflows rather than layering new tools on top of outdated software. Sequoia’s Luciana Lixandru, who is joining the board, said, “We believe wealth managers face a defining opportunity. When AI takes on the operational load, advisors are freed to focus on clients and business growth.”

ICONIQ shared a similar view in a blog post, writing that “wealth management is a $50 trillion industry built on trust and long-term relationships, but its infrastructure hasn’t kept pace,” and that Nevis is “unlocking the true potential wealth management firms can achieve once freed from outdated and fragmented systems.”

The founding team is betting that wealth management is on the cusp of a shift. As firms take on more clients and assets, they need infrastructure that can grow with them without burying advisors in administrative work. Nevis argues that the path forward isn’t more support staff or more software add-ons, but a unified platform that handles the operational load directly.

The fresh funding gives the startup room to scale across an industry that has long talked about modernization but struggled to get there. With AI taking on client-ready tasks in other parts of finance, the advisor community is now facing its own inflection point. Nevis wants to be the team that moves it forward.