October 26, 2026 — Nevis, which builds an AI operating system for wealth management firms, has raised a $70 million Series B led by EQT Ventures — and Charles Schwab has joined as a strategic investor. Why it matters: AI agents are moving from chat sidekicks into the operational core of advisory firms, and one of the industry’s biggest custodians is now backing that shift with its own money.
What happened
Nevis announced the $70 million Series B on Monday, October 26. The round brings the company’s total funding to $110 million in the two years since its founding in late 2024. Alongside lead investor EQT Ventures, new strategic investors include The Charles Schwab Corporation and QuantumLight, the investment fund of Revolut founder and CEO Nik Storonsky. Existing backers Sequoia Capital, ICONIQ and Ribbit Capital all increased their commitments. Nevis did not disclose a valuation; Fortune reported the round values the company at about $500 million, citing a person familiar with the matter. Its previous round, a $35 million Series A last December, valued it at $200 million, according to WealthManagement.com.
What Nevis actually sells
Nevis is a single AI platform for registered investment advisers and wealth management firms. It pulls together the tools advisors usually juggle separately — client records, meeting intelligence, financial planning and custodial workflows — and puts AI agents to work completing operational tasks end to end, from preparing plans to opening accounts. The company says its agents have completed more than 100,000 operational tasks so far. Nevis was founded by three former Revolut executives: CEO Mark Swan, chief product officer Philipp Burda and chief operating officer Ivan Chalov.
The growth numbers — company-reported
The funding comes with big growth claims, all reported by Nevis itself rather than audited. The company says revenue grew more than 25-fold in 2026, while assets held by firms using its platform rose from $50 billion to $700 billion, currently adding about $75 billion a month. Named customers include Focus Financial Partners, IEQ Capital and United Capital. Across deployments, Nevis says advisors reclaim up to 10 hours a week and open accounts in days instead of weeks — the kind of figures prospective buyers should test in a pilot, not take on faith. As part of the deal, EQT Ventures partner Carolina Brochado joins the Nevis board. The new money will go toward expanding the agents’ capabilities, deepening integrations with custodians and wealth technology providers, and growing the product and go-to-market teams.
Why it matters
Wealth management has a capacity problem: advisors are retiring while demand for advice keeps rising, and the work eating their days is mostly paperwork, not advice. Schwab’s presence in this round is the tell. When a custodian that supports more than 17,000 independent advisory firms invests in an agent platform, AI workflow automation stops being an experiment individual firms run on the side and starts becoming part of the industry’s standard plumbing. For advisory firms, the practical question is the one we ask of every agent tool: do the agents finish work reliably enough that the hours saved survive contact with compliance review? Nevis’s customer list suggests large firms are answering yes — and $110 million in funding means it will have every chance to prove it at scale. Everything AI, tested: the claims here are testable, and that is what makes this round worth watching.
FAQ
How much did Nevis raise?
$70 million in a Series B led by EQT Ventures, bringing total funding to $110 million since the company was founded in late 2024.
Who invested in Nevis’s Series B?
EQT Ventures led. Charles Schwab and QuantumLight joined as new strategic investors, and existing investors Sequoia Capital, ICONIQ and Ribbit Capital expanded their commitments.
What does the Nevis platform do?
It combines CRM, meeting intelligence, financial planning and custodial workflows in one system, with AI agents that complete operational work end to end so advisors can spend more time with clients.
What valuation did the round give Nevis?
Nevis did not disclose one. Fortune reported about $500 million, citing a person familiar with the matter; its Series A last December valued the company at $200 million.
Sources: BusinessWire, Fortune, WealthManagement.com