Nevis Raises $70 Million Series B Led by EQT Ventures for AI Wealth Platform
Nevis, an AI platform for wealth management, raised a $70 million Series B led by EQT Ventures, with Schwab as a strategic investor and, by the company's account, more than $700 billion in assets.
Nevis, an AI platform for wealth management, announced a $70 million Series B led by EQT Ventures in October 2026. Sequoia Capital, ICONIQ, QuantumLight and Ribbit Capital also took part, and Charles Schwab joined as a strategic investor.
The company describes itself as an operating system for wealth management and says its platform supports firms representing more than $700 billion in assets. Total funding has reached $110 million in two years, according to the same announcement. An earlier $40 million round, announced in December 2025, came from Sequoia Capital, ICONIQ and Ribbit.
What the Investor List Says About AI for Regulated Advisers
The round pairs a venture lead with a large custodian. EQT Ventures led it and has followed Nevis since its early days. Schwab took part as a strategic investor.
Carolina Brochado, partner and head of EQT Ventures, says Nevis is helping firms serve more clients and scale efficiently amid a growing advisor capacity gap as advisors retire. Jon Beatty, head of Schwab Advisor Services, says the investment and partnership expand that ecosystem. The announcement says Nevis agents would extend across Schwab's custodial infrastructure, and it cites Schwab's scale as more than 17,000 independent RIAs, over 48 million client accounts and $13 trillion in client assets.
Sequoia Capital, ICONIQ and Ribbit Capital each increased their investment in this round, according to the announcement.
The Nevis home page lists account opening among its workflows.
Reading the $700 Billion Figure Correctly
The announcement says Nevis's assets have grown from $50 billion to more than $700 billion, and that the company is now adding $75 billion every month. The company's website also gives $700B+ in assets under management across Nevis customers.
That number is the company's own measure of assets on Nevis.
The announcement also claims that revenue grew more than 25 times, that its AI agents completed more than 100,000 operational tasks, and that the company has 70 people. It names Focus Financial Partners, IEQ Capital and United Capital as customers and says it supports some of the largest and fastest-growing US wealth management firms. These are company figures.
The two company sources differ on adviser time. The announcement says advisers can reclaim up to 10 hours a week, while the website gives 8+ hours saved per advisor per week. The website also reports 90% weekly active usage and more than 1,000 back office workflows automated per month.
What Founders Selling Into Regulated Markets Can Take From It
Nevis presents a set of workflows rather than a single chatbot. Its platform covers tasks, email and analytics, along with native connectors into existing systems. Its agents start with meeting preparation and go far beyond it. Nevis has enterprise-level agreements with leading AI providers including OpenAI and Anthropic. Workflows cover client onboarding, account opening, money movement and maintenance.
The announcement frames the product around advisers rather than replacing them. Mark Swan, chief executive and co-founder, says financial advice is "human-led." The announcement says advisers using Nevis take 30% more prospect meetings, that financial plans and proposals take minutes to generate, and that client accounts open in days instead of weeks.
The website carries customer quotes from Focus CEO Adam Birenbaum, IEQ Capital COO Dean Horwitz and United Capital President Jim Rivers.
Three habits from this announcement are worth copying. Name the customers you can, name the systems you connect to, and state the operating metric you track with a number. The announcement does all three, which gives a buyer something concrete to test.
“That number is the company's own measure of assets on Nevis.”
What Happens Next
The announcement says Nevis will accelerate development of its AI agents and expand across the entire wealth management technology stack. Its stated ambition is to become the foundational AI platform and operating system for the global wealth management industry.
The Schwab partnership aims to extend Nevis agents across Schwab's custodial infrastructure.
The board also changes. Carolina Brochado joins Nevis's board of directors, and Kaushik Subramanian joins as a board observer.
