Nevis Raises $70M to Expand AI Platform for Wealth Managers

Nevis has raised $70 million in Series B funding to expand its artificial intelligence platform for wealth managers, drawing backing from investors including EQT Ventures and Charles Schwab.

EQT Ventures led the round, with participation from Schwab, Sequoia Capital, ICONIQ, QuantumLight and Ribbit Capital. The financing brings Nevis’ total funding to $110 million since its founding two years ago.

The company combines customer relationship management, meeting intelligence, financial planning and custodial workflows in one platform. Its AI agents are designed to complete multistep operational tasks, rather than assist with isolated activities such as meeting notes or document processing.

Nevis supports U.S. wealth management firms representing more than $700 billion in assets, including Focus Financial Partners, IEQ Capital and United Capital.

The company reported revenue growth of more than 25 times over the past year, without disclosing a dollar figure. Its AI agents have completed more than 100,000 operational tasks.

Schwab’s participation adds a strategic relationship alongside the financing. Nevis said a deeper partnership would extend its agents across Schwab’s custodial infrastructure, enabling additional automation for advisors.

“Our investment in and partnership with Nevis expands that ecosystem, helping advisors harness AI to operate more efficiently, increase their capacity and ultimately serve more investors,” said Jon Beatty, head of Schwab Advisor Services.

Carolina Brochado, partner and head of EQT Ventures, will join Nevis’ board, while Kaushik Subramanian will become a board observer.

Nevis plans to accelerate AI agent development and expand across wealth management technology functions. CEO and co-founder Mark Swan said the company’s approach is intended to support, rather than replace, human-led financial advice.