Nevis has raised $70 million in Series B funding to expand an AI operating system for wealth management firms, bringing total financing to $110 million.
The round was led by EQT Ventures, with participation from Charles Schwab, Sequoia Capital, ICONIQ, QuantumLight and Ribbit Capital.
Founded by Mark Swan, Philipp and Ivan, former colleagues at Revolut, Nevis is attempting to automate the administrative work performed by financial advisers and wealth management firms.
The company reports serving organizations representing more than $700 billion in assets, including Focus Financial Partners, IEQ Capital and United Capital.
That figure represents assets associated with firms using Nevis, not assets owned or managed by Nevis itself.
What Does Nevis Actually Do?
Financial advisers typically work across numerous applications.
A single client relationship can require CRM software, financial planning systems, custodial platforms, email, meeting tools and document management.
Information often needs to be transferred manually between those systems.
Nevis combines these workflows within a platform that uses AI agents to execute operational tasks.
Its software can prepare advisers for client meetings, summarize communications, create follow-up actions and assist with financial planning documentation.
It also supports account opening and other custodial workflows.
The company is developing integrations that allow agents to perform work across financial services infrastructure rather than requiring employees to operate each application separately.
For example, an adviser might complete a client meeting and then use Nevis to organize follow-up tasks, prepare documentation and initiate an account-opening workflow.
The Charles Schwab Partnership
Charles Schwab participated in the Series B as a strategic investor.
The relationship is significant because Schwab provides custody and related services to thousands of registered investment advisers.
Nevis intends to expand its integrations with Schwab infrastructure, supporting automated workflows for participating advisory businesses.
The company also offers account-opening capabilities involving Fidelity.
These integrations are important because wealth management technology is not simply a document-generation problem.
Advisers must work with regulated financial accounts, client permissions and operational procedures that require strong controls.
Growth and Customer Adoption
Nevis reports substantial commercial expansion.
According to its funding announcement, assets represented on its platform increased from approximately $50 billion to more than $700 billion within a year.
The company says its revenue increased more than 25-fold, although it has not disclosed absolute revenue.
Its AI agents have completed more than 100,000 operational tasks.
Nevis also reports that advisers using the platform can save up to ten hours per week, take 30% more prospect meetings and complete certain financial planning tasks in minutes.
These are company-reported outcomes, not independently established averages across the wealth management industry.
The company currently employs approximately 70 people.
Competition in Wealth Management Technology
Nevis competes with established adviser technology systems, including CRM providers, financial planning software and specialized AI tools.
Some businesses focus on meeting transcription or client communication, while others manage investment reporting and account administration.
Nevis is pursuing a broader platform strategy that combines those functions through AI agents.
Its potential advantage is reducing the number of disconnected workflows advisers must coordinate.
However, established financial technology vendors already have extensive relationships with advisory firms.
Security, reliability and integration quality will play an important role in customer retention.
What Nevis Needs to Prove
Financial advisers handle sensitive personal and financial information.
Any AI system executing account-related actions must maintain clear authorization, auditability and human oversight.
The company must also demonstrate that its agents remain reliable when working across changing systems and complex client circumstances.
The $700 billion asset figure demonstrates the scale of organizations using the product, but does not reveal Nevis' revenue capture.
Nevis is betting that wealth management firms need an integrated AI operating system rather than additional point solutions. Its next challenge is converting rapid adoption into durable recurring revenue while maintaining the controls required in financial services.