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Nevis Raises $70M Series B to Build AI Operating System for Wealth Management
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Nevis, a two-year-old startup building an AI operating system for wealth management, has closed a $70 million Series B round led by EQT Ventures. Charles Schwab, Sequoia Capital, ICONIQ, QuantumLight and Ribbit Capital also participated. The round brings total funding to $110 million. CEO Mark Swan founded Nevis with co-founders Philipp and Ivan.
The platform unites CRM, meeting intelligence, financial planning and custodial workflows. Its AI agents complete operational work end to end, reducing administrative burden. Swan said advice will always be human-led, and AI should empower advisors rather than replace them. The company positions its technology as a capacity multiplier.
Advisors using Nevis reclaim up to 10 hours per week and open client accounts in days instead of weeks. Assets on the platform have grown from $50 billion to over $700 billion in a year. Revenue has risen more than 25 times. Its agents have completed over 100,000 tasks for clients including Focus Financial Partners and IEQ Capital.
Carolina Brochado, Partner and Head of EQT Ventures, joins the board. She said Nevis is helping firms address a growing advisor capacity gap. Jon Beatty, Head of Schwab Advisor Services, said the partnership will help advisors use AI to increase capacity. QuantumLight was founded by Revolut CEO Nik Storonsky.
The funding will accelerate development of Nevis’s AI agents across the wealth management technology stack. As firms face pressure to serve more clients with limited staff, AI-driven efficiency is becoming critical. Nevis’s rapid asset growth and revenue expansion show strong demand for integrated operating systems.
With backing from major financial institutions and venture firms, Nevis aims to scale its agent capabilities. The company’s human-led approach may help ease concerns about AI replacing advisors. Its next phase will focus on expanding across the wealth management technology stack.
