Nevis raises $70M Series B for AI agents that do advisers' operational work — Schwab and EQT lead

• Who: Nevis, a wealth-management AI company founded by former Revolut executives Mark Swan, Philipp Burda and Ivan Chalov; EQT Ventures led the round.
• What: A $70 million Series B, bringing Nevis’s total funding to $110 million two years after it launched in late 2024.
• When: Announced October 26, 2026.
• New investors: The Charles Schwab Corporation and QuantumLight, the fund of Revolut founder Nik Storonsky; all existing investors — Sequoia Capital, ICONIQ and Ribbit Capital — expanded their commitments.
• Growth, company-reported: revenue up more than 25x in 2026; client assets on the platform up from $50 billion to $700 billion, at a run rate of $75 billion in new assets a month.
• Platform results, company-reported: AI agents have completed more than 100,000 operational tasks; advisers reclaim up to 10 hours a week, prospect meetings are up 30%, and account opening falls from weeks to days.

Nevis, the AI operating system for wealth management, announced a $70 million Series B on October 26, 2026, led by EQT Ventures. New strategic investors The Charles Schwab Corporation and QuantumLight, the fund of Revolut founder and CEO Nik Storonsky, joined the round, and all of Nevis’s existing investors — Sequoia Capital, ICONIQ and Ribbit Capital — expanded their commitments. The round brings the company’s total funding to $110 million in the two years since it launched in late 2024.

What the platform actually does

Nevis brings CRM, meeting intelligence, financial planning and custodial workflows together in a single AI platform, and its agents handle operational work end to end. The pitch to firms is blunt: advisers get more time with clients, and firms can serve more of them. The company says its agents have completed more than 100,000 operational tasks, that advisers reclaim up to 10 hours every week, and that prospect meetings rise 30%. Personalised financial plans and prospect proposals take minutes, the company says, and AI agents orchestrate paperwork, signatures and custodial workflows to cut account opening from weeks to days.

Why Schwab’s cheque matters

Schwab is not a passive name on the cap table. The announcement notes that the company serves more than 48 million client accounts, holds $13 trillion in total client assets and supports more than 17,000 independent registered investment advisers. “We’ve built an AI ecosystem that gives advisors greater choice and access to capabilities that can help them run and grow their firms,” said Jon Beatty, head of Schwab Advisor Services. “Our investment in and partnership with Nevis expands that ecosystem.”

EQT’s case is about a capacity gap: advisers retiring just as demand for advice rises. “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,” said Carolina Brochado, Partner and Head of EQT Ventures. “Nevis is helping firms serve more clients and scale efficiently.” As part of the investment, Brochado joins Nevis’s board of directors, with EQT partner Kaushik Subramanian joining as a board observer.

The growth story behind the round

The numbers Nevis chose to headline are steep. In 2026, the company says, revenue grew more than 25-fold, while assets on its platform grew from $50 billion to $700 billion, at a current run rate of $75 billion in new assets added each month. Its customers include some of the largest and fastest-growing firms in the United States, among them Focus Financial Partners, IEQ Capital and United Capital. Nevis was founded by Mark Swan (chief executive officer), Philipp Burda (chief product officer) and Ivan Chalov (chief operating officer), former executives at Revolut.

What the money is for — and what to watch

Nevis says it will use the funding to expand agent capabilities, deepen integrations across the custodian and wealth-tech ecosystem, and grow its product and go-to-market teams. “Our customers measure Nevis in business results: more client calls, hours back every week, and accounts opened every day,” said Mark Swan, CEO and co-founder. “Nevis agents finish the work, so every advisor can give every client the white-glove attention of a full-service team.”

One caveat belongs in any reading of the announcement: the growth figures — the 25-fold revenue rise, the $50 billion to $700 billion asset jump, the hours saved — are the company’s own, not independently verified results. What is independently checkable is the shape of the bet: a lead investor in EQT, a strategic investor in Schwab, and every prior backer putting more money in. For a sector where the back office has long been the bottleneck, that is a meaningful vote.

Sources: Business Wire announcement, FinSMEs, Unite.AI.