London and US-based Nevis, which develops an AI platform for wealth management firms, has raised $70 million in a Series B round led by EQT Ventures, with participation from Charles Schwab, QuantumLight, Sequoia Capital, ICONIQ and Ribbit Capital. The round brings the company's total funding to $110 million since its founding two years ago.
- Founded in 2024 by Mark Swan, Philipp Burda and Ivan Chalov, Nevis provides an AI platform that integrates customer relationship management, meeting intelligence, financial planning and custodial workflows.
- Its AI agents automate operational tasks across wealth management firms, helping financial advisors serve more clients and manage their businesses more efficiently.
- The company reports that its platform supports wealth management firms in the US representing more than $700 billion in assets, including Focus Financial Partners, IEQ Capital and United Capital.
- Over the past year, assets on the platform have grown from $50 billion to more than $700 billion, while revenue has increased more than 25-fold.
Details of the deal
- With the fresh capital, Nevis plans to accelerate the development of its AI agents, expand its product offering across the wealth management technology stack and grow its team. The company also aims to establish its platform as a foundational technology layer for the global wealth management industry.
