Nevis Raises $70M Funding at $500M Valuation to Build the AI Operating System for Wealth Management

Nevis, the New York and London-based AI operating system for wealth management, has raised $70 million in Series B funding at a $500 million valuation, led by EQT Ventures. The round includes strategic investments from Charles Schwab, one of the largest US brokers serving more than 17,000 independent RIAs, and QuantumLight, the fund set up by Revolut founder Nik Storonsky. All existing investors—Sequoia Capital, ICONIQ, and Ribbit Capital—also expanded their commitments .

The round brings Nevis’s total funding to $110 million in just two years since founding, following a $35 million Series A led by Sequoia in December 2025 at a $200 million valuation .

The funding comes as Nevis reports explosive growth: revenue has grown more than 25x in 2026, assets on the platform grew from $50 billion to $700 billion, and the company is adding roughly $75 billion in new assets each month. Its AI agents have completed over 100,000 operational tasks .

Nevis Funding Overview By CREDX Media

Startup Name	Nevis
Founders	Mark Swan (CEO), Philipp Burda (CPO), Ivan Chalov (COO)
Founded	October 2024
HQ	New York, USA & London, UK
Round	Series B Funding
Amount Raised	$70M
Valuation	$500M
Category	Fintech, Wealth Management AI, Enterprise Software
Lead Investor	EQT Ventures
New Strategic Investors	Charles Schwab, QuantumLight
Returning Investors	Sequoia Capital, ICONIQ, Ribbit Capital
Total Funding Raised	$110M
Employees	~70
Platform Assets	$700B (up from $50B in 2026)
Revenue Growth	25x in 2026
Key Customers	Focus Financial Partners, IEQ Capital, United Capital

💡 Use of Funds

• Agent Capabilities: Expanding the scope of tasks Nevis AI agents can complete end-to-end .
• Custodian Integrations: Deepening connections across the custodian and wealth tech ecosystem .
• Team Growth: Hiring for product and go-to-market teams .

Startup Overview: Nevis

What Nevis Is Building in Simple Words

Nevis has built an AI operating system for wealth management that brings together the fragmented tools financial advisors use every day—CRM, meeting intelligence, financial planning, and custodial workflows—into a single platform. Its AI agents then complete the operational work end-to-end, rather than just assisting with it .

• Unified Platform: Combines client records, meeting notes, financial planning, and account paperwork in one place .
• End-to-End Agents: AI agents prepare financial plans, open client accounts, and handle the paperwork and signatures that typically consume advisor time .
• Measurable Impact: Advisors on Nevis reclaim up to 10 hours per week, hold 30% more prospect meetings, and open accounts in days rather than weeks .
• Built for Scale: The platform is designed for Registered Investment Advisors (RIAs) and wealth management firms, with integrations across custodians and legacy wealth tech .

Why Nevis Matters

1. Advisors Are Drowning in Admin Work CEO Mark Swan observed that financial advisers can spend up to 80% of their time on administrative tasks, juggling anywhere from 8 to 10 different software packages . Nevis attacks that inefficiency directly.
2. The Wealth Management Capacity Gap Is Real As advisors retire and demand for advice rises, firms need to serve more clients with the same or fewer people. EQT Ventures’ Carolina Brochado framed the thesis: “Mark, Philipp and Ivan have built an exceptional AI platform at a time when wealth management faces a growing capacity gap, with advisors retiring as demand for advice rises” .
3. Schwab’s Investment Is Strategic Validation Charles Schwab serves more than 48 million client accounts, $13 trillion in total client assets, and supports 17,000+ independent RIAs . Its investment signals that the incumbent custodian sees Nevis as complementary infrastructure, not a threat.
4. Growth Is Extraordinary Revenue grew 25x in 2026. Platform assets grew 14x, from $50 billion to $700 billion. The company is adding $75 billion in new assets monthly .

Founder Background: The Revolut Deskmates Building Wealth’s AI Layer

Nevis was founded in October 2024 by three former Revolut executives who sat next to each other at the London fintech’s offices .

Mark Swan (CEO) led global strategy and operations at Revolut. The light bulb moment came when he led a project using early OpenAI models to automate back-office work at Revolut. He saw an opening to build similar tools for traditional financial firms that might struggle to develop the technology themselves . Swan is Scottish, and named the company after Ben Nevis, the UK’s highest mountain .

Philipp Burda (CPO) led AI at Revolut. Ivan Chalov (COO) led the consumer retail business. All three left Revolut together to build Nevis full-time .

Sequoia had Swan on its radar as a potential founder. Luciana Lixandru and George Robson, former Revolut employees who left in 2020, met with him and led the $5 million seed round in September 2024. The original plan was to target the UK, but Sequoia’s partners pushed them toward the US market, which they felt was a bigger opportunity .

The AI Wealth Management Race Nobody Expected

Nevis operates in an increasingly crowded field of AI-native wealth management startups.

Jump, the AI meeting assistant for advisers, raised $80 million in Series B led by Insight Partners and aims to become a full AI operating system for advisers . Savvy Wealth, an AI advisory firm, raised $100 million in Series C at a $600 million valuation and is close to $100 million in ARR . Arca emerged from stealth with $64 million .

Nevis’s differentiation is its integration depth and end-to-end execution. While competitors focus on specific workflows or advisory services, Nevis built a unified platform that handles CRM, planning, and custodial workflows together, with agents that complete tasks rather than just assist .

The competitive moat, if it materializes, is workflow entrenchment. Once a firm’s client records, meeting notes, financial plans, and account opening processes run through Nevis, switching costs become high—especially as assets on the platform grow .

Founder Intelligence: What Founders Can Learn from Nevis

• Build for the workflow, not the feature: Nevis didn’t build another CRM or planning tool. It built an operating system that connects them all and completes the work. The integration is the product.
• Let your previous company be your training ground: The founders learned how to build financial products at scale at Revolut. That experience—and the credibility it carries—attracted Sequoia before the product was even built .
• Follow the market, not the original plan: Nevis was going to start in the UK. Sequoia pushed them to the US. Listening to investors who understand the market can change the trajectory of a company .
• Strategic investors can be ecosystem partners: Charles Schwab’s investment isn’t just capital—it’s a signal that the largest custodian in the US sees Nevis as part of the advisor toolkit. That validation opens doors to Schwab’s 17,000 RIAs .

Investor Intelligence: Why This Round Gets Premium Capital

EQT Ventures led the round. Carolina Brochado, Partner and Head of EQT Ventures, joins Nevis’s board. She framed the thesis around the capacity gap in wealth management and the founders’ execution: “Mark, Philipp and Ivan have built an exceptional AI platform… Nevis is helping firms serve more clients and scale efficiently” .

Charles Schwab joined as a strategic investor. Jon Beatty, head of Schwab Advisor Services, framed the investment as expanding the AI ecosystem Schwab offers its advisors: “Our investment in and partnership with Nevis expands that ecosystem, helping advisors harness AI to operate more efficiently” .

QuantumLight, Nik Storonsky’s fund, participated. The backing of Revolut’s founder for a team of former Revolut executives is a strong signal of founder-market fit .

Sequoia Capital, ICONIQ, and Ribbit Capital all returned, continuing their conviction from the seed and Series A rounds .

The Road Ahead for Nevis

Expansion Targets

With $70 million in capital, Nevis will:

• Expand agent capabilities to handle more of the advisor workflow .
• Deepen custodian integrations across the wealth tech ecosystem .
• Grow product and go-to-market teams beyond the current ~70 employees .

Competitive Response

Expect:

• Jump and Savvy Wealth to deepen their AI operating system offerings.
• Custodians like Schwab and Fidelity to build or invest in competing AI layers.
• Traditional wealth tech vendors to acquire or build agentic features.
• Nevis’s moat: end-to-end workflow execution + custodian integrations + strategic backing from Schwab.

Conclusion

Nevis’s $70 million Series B at a $500 million valuation validates the thesis that wealth management’s biggest bottleneck is administrative work, and AI agents can solve it. The company’s 25x revenue growth, $700 billion in platform assets, and strategic backing from Charles Schwab position it as a leading contender to become the AI operating system for financial advisors.

Market tailwinds favor Nevis: the advisor capacity gap, Schwab’s validation, and the broader shift toward AI-native professional services. The company’s Revolut pedigree, end-to-end agent capabilities, and custodian integrations give it a credible path to scale as wealth management firms seek to do more with less.

For deep analysis of fintech funding, AI wealth management innovation, and companies reshaping professional services, explore CREDX Media for comprehensive coverage of startup funding trends, valuation intelligence, and founder playbooks.

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Frequently Asked Questions

1. What is Nevis’s total funding and latest round size?
Nevis has raised $110 million** total. Its **$70 million Series B was led by EQT Ventures in October 2026, following a $35 million Series A in December 2025 .

2. How much did Nevis raise in its Series B and who led the investment?
Nevis raised $70 million led by EQT Ventures, with new strategic investors Charles Schwab and QuantumLight, and returning investors Sequoia, ICONIQ, and Ribbit Capital.

3. What is the valuation of Nevis?
Nevis is valued at $500 million following its Series B, up from $200 million at its Series A.

4. Who are the major investors in Nevis?
Major investors include EQT Ventures (lead), Charles Schwab, QuantumLight, Sequoia Capital, ICONIQ, and Ribbit Capital .

5. Who are Nevis’s founders?
Nevis was founded in October 2024 by Mark Swan (CEO), Philipp Burda (CPO), and Ivan Chalov (COO), all former Revolut executives .

6. What is Nevis’s business model?
Nevis operates a B2B SaaS model, selling its AI operating system to wealth management firms and RIAs on a subscription basis. Pricing is not publicly disclosed .

7. How does Nevis’s AI platform work?
Nevis combines CRM, meeting intelligence, financial planning, and custodial workflows into one platform. AI agents then complete operational tasks end-to-end, such as preparing financial plans and opening accounts.

8. What traction justifies Nevis’s $500 million valuation?
Nevis grew revenue 25x in 2026, assets on its platform grew from $50 billion to $700 billion, and it adds roughly $75 billion in new assets monthly. Its agents have completed over 100,000 tasks .

9. What are Nevis’s plans for the $70 million Series B capital?
Nevis will expand agent capabilities, deepen custodian integrations, and grow its product and go-to-market teams.

10. Who are Nevis’s key customers?
Customers include Focus Financial Partners, IEQ Capital, and United Capital.

11. Who is the CEO of Nevis?
Mark Swan serves as CEO and co-founder. He previously led global strategy and operations at Revolut.