WealthManagement.com reported that Nevis, which makes AI tools that take over back-office tasks for RIAs and wealth management firms, has raised a $70 million Series B round. The company's announcement, dated New York, said the round takes total funding to $110 million. WealthManagement.com's summary highlighted backing from EQT Ventures, Charles Schwab and Revolut founder Nik Storonsky.
According to the company's announcement, which was distributed through Business Wire and reproduced on partner sites, EQT Ventures led the round. Charles Schwab and QuantumLight, the fund of Storonsky, are new strategic backers. Existing investors Sequoia Capital, ICONIQ and Ribbit Capital also expanded their commitments. Carolina Brochado, partner and head of EQT Ventures, joins Nevis's board, and Kaushik Subramanian joins as a board observer.
Nevis says the client assets represented on its platform rose from $50 billion to $700 billion in 2026. That is a company-reported figure, and it measures client assets represented on the platform rather than money Nevis manages or holds. FinanceX Magazine said explicitly that Nevis does not manage, advise on or hold those assets. The company also says its revenue rose more than 25-fold in 2026 but has not disclosed absolute revenue. FinanceX reported that Nevis's agents have completed more than 100,000 operational tasks. The company's figures of up to 10 hours saved per adviser each week and a 30% rise in prospect meetings come from its own reporting and have not been independently audited.
The company did not disclose a valuation in its announcement, according to CityBiz. Fortune reported, citing an anonymous source, a valuation of about $500 million, a figure Nevis has not confirmed. CryptoBriefing reported that the company was valued at about $200 million around its December 2025 launch. CityBiz said the company will use the new capital to expand AI agent capabilities, deepen custodian and wealth-tech integrations, and grow its product and commercial teams.
CityBiz identified Mark Swan as chief executive, Philipp Burda as chief product officer and Ivan Chalov as chief operating officer, and said all three are former Revolut executives. The product combines CRM, meeting notes, financial planning and custodial workflows, according to the same report. CityBiz and another outlet named Focus Financial Partners, IEQ Capital and United Capital as customers. Earlier funding included a seed round of $5 million led by Sequoia Capital, with sources differing on whether it closed in 2024 or early 2025. KuCoin News reported a Series A of about $35 million led by Sequoia with ICONIQ and Ribbit Capital, announced around December 2025, and TheNextWeb reported the company had emerged from stealth with about $40 million in total funding.
Figures the release attributes to Schwab itself put its reach at upward of 48 million accounts, roughly $13 trillion in client assets, and over 17,000 independent RIAs. TheNextWeb reported that Schwab recently blocked outside AI agents, including Meta's Muse, from moving client money, and that Jon Beatty, head of Schwab Advisor Services, presented the Nevis investment as widening Schwab's own AI toolset. FinanceX noted that Nevis integrates with both Schwab and Fidelity. KuCoin News cited a 2025 McKinsey estimate that 110,000 advisers, over a third of the workforce, are expected to retire within the next ten years.
The next milestones for Nevis are the expansion plans it has described: new AI agent capabilities, deeper custodian and wealth-tech integrations, and larger product and commercial teams.