Nevis, a New York company that builds AI software for wealth management firms, raised a $70 million Series B led by EQT Ventures on Monday, bringing its total funding to $110 million. Charles Schwab and QuantumLight, the venture fund set up by Revolut founder Nik Storonsky, joined as new investors, and Sequoia Capital, ICONIQ and Ribbit Capital all put in more.
The growth numbers behind the round are steep. Nevis says client assets managed through its platform rose from $50 billion to $700 billion this year, and it is now adding about $75 billion a month. The company says revenue grew more than 25 times over the same period and that its agents have completed more than 100,000 jobs.
The platform pulls customer records, meeting notes, financial planning and account paperwork into one system, and AI agents handle routine work such as preparing financial plans and opening client accounts. Nevis says advisers using it save up to 10 hours a week and hold 30% more meetings with prospective clients. Last December it acquired Ledra AI, a conversational and voice AI startup, to build a voice and analytics agent.
Key facts
- 01Nevis raised a $70 million Series B led by EQT Ventures on October 26, 2026, bringing total funding to $110 million.
- 02Charles Schwab and Nik Storonsky's QuantumLight joined; Sequoia, ICONIQ and Ribbit Capital reinvested.
- 03Assets on the Nevis platform rose from $50 billion to $700 billion this year, adding about $75 billion a month.
- 04Nevis says its agents have handled over 100,000 jobs and revenue grew more than 25x this year.
- 05Its $35 million Series A last December valued Nevis at $200 million; the Series B valuation was not disclosed.
Nevis was founded in late 2024 by three former Revolut executives: CEO Mark Swan, Chief Product Officer Philipp Burda and COO Ivan Chalov. The company is named after Ben Nevis, Scotland's highest mountain.
“Nevis agents finish the work, so every advisor can give every client the white-glove attention of a full-service team”— Mark Swan, CEO of Nevis
Schwab's participation stands out. Earlier this month the broker said it was blocking outside AI agents, including Meta's Muse, from moving client money. Jon Beatty, who heads Schwab Advisor Services, said the Nevis investment widens the range of AI tools Schwab offers the advisers who custody assets with it.
Nevis also announced a strategic partnership with Focus Financial Partners that makes its enterprise platform available across Focus and its subsidiary firms. Focus made what the companies called a "significant investment" in Nevis, without disclosing the amount. Other clients include United Capital, IEQ Capital and GC Wealth.
“We've built an AI ecosystem that gives advisors greater choice and access to capabilities”— Jon Beatty, Head of Schwab Advisor Services
The round comes less than a year after Nevis emerged from stealth in December 2025 with $40 million, including a $35 million Series A led by Sequoia that valued the company at $200 million. The Series B valuation was not disclosed.
Carolina Brochado, partner and head of EQT Ventures, joins the Nevis board, and EQT partner Kaushik Subramanian joins as a board observer. Brochado said Nevis is helping firms serve more clients and scale efficiently.
Nevis plans to spend the new money on more agent features, integrations with additional custodians and wealth software, and hiring across its product and sales teams.
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