Nevis Raises €62M Series B to Scale AI-Powered Wealth Management Platform

Nevis, a London and New York-based WealthTech startup developing an AI operating system for wealth management, has raised €62 million ($70 million) in a Series B funding round led by EQT Ventures.

The round brings the company's total funding to €98 million ($110 million) since its founding in 2024. Strategic investors joining the round include The Charles Schwab Corporation and QuantumLight, the investment fund of Revolut founder and CEO Nik Storonsky. Existing investors Sequoia Capital, ICONIQ and Ribbit Capital also increased their commitments.

Founded by Mark Swan, Philipp Burda and Ivan Chalov, Nevis develops AI products that automate administrative and operational workflows for financial advisors. The company plans to use the new capital to expand its AI agent capabilities, deepen integrations across the custodian and WealthTech ecosystem, and grow its product and go-to-market teams.

Automating financial advisory workflows with AI

Financial advisors spend a considerable amount of time on operational and administrative activities, including client relationship management, meeting preparation, financial planning and account opening.

Nevis aims to bring these workflows together through a single AI platform that connects CRM systems, meeting intelligence, financial planning tools and custodial workflows.

Its AI agents are designed to handle operational tasks end-to-end, allowing financial advisors to spend more time engaging with clients and expanding their businesses.

The company reports that its agents have completed more than 100,000 operational tasks. Across customer deployments, Nevis says its platform helps financial advisors:

• Reclaim up to 10 hours every week.

• Increase prospect meetings by 30%.

• Generate personalised financial plans and prospect proposals in minutes.

• Reduce account-opening timelines from weeks to days.

These outcomes are based on customer deployments and figures reported by the company.

Serving wealth management firms with more than €625 billion in assets

Nevis says its customers collectively represent more than €625 billion ($700 billion) in client assets.

Its customer base includes Focus Financial Partners, IEQ Capital and United Capital.

The company also reported revenue growth of more than 25x over the past year, highlighting the commercial traction it says it has achieved as wealth management firms adopt AI-powered workflows.

CEO and co-founder Mark Swan says customers measure the platform through business outcomes such as increased client calls, time saved each week and faster account openings.

Nevis wants its AI agents to take on more of the operational work involved in financial advisory services, giving advisors greater capacity to serve clients.

Founders combine financial services and technology experience

Nevis was founded in 2024 by three co-founders:

• Mark Swan, CEO

• Philipp Burda, Chief Product Officer

• Ivan Chalov, COO

The founding team is building the company around the idea that AI agents can become core infrastructure for financial advisory firms.

The company is targeting a capacity gap in wealth management, where demand for financial advice is rising while experienced advisors are retiring. EQT Ventures Partner and Head of EQT Ventures Carolina Brochado highlighted this industry challenge when discussing the investment.

According to Brochado, Nevis is helping financial advisory firms serve more clients and scale their operations more efficiently. EQT also plans to bring its network across wealth management and financial services to support the company's expansion.

Strategic investment from Charles Schwab and QuantumLight

The participation of The Charles Schwab Corporation and QuantumLight adds strategic investors to Nevis' latest funding round.

Schwab Advisor Services head Jon Beatty said the investment and partnership are intended to expand the ecosystem of capabilities available to financial advisors.

The partnership reflects a broader interest in applying AI to financial advisory operations, particularly in areas where automation can improve efficiency and increase the capacity of advisory firms.

Alongside the new strategic investors, existing backers Sequoia Capital, ICONIQ and Ribbit Capital increased their investments in the company.

Funding to expand AI agents and integrations

Nevis plans to direct the €62 million Series B funding towards three main priorities:

1. Expanding AI agent capabilities: Developing additional capabilities to automate more financial advisory workflows.

2. Deepening integrations: Connecting more deeply with custodians and companies across the WealthTech ecosystem.

3. Growing teams: Expanding product development and go-to-market operations.

The company is positioning its platform as an integrated AI operating system for wealth management rather than a standalone automation tool.

With €98 million raised since 2024, Nevis is looking to build on its reported customer traction and expand its role in the financial advisory technology ecosystem.