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Nevis raises $70m Series B to scale AI for wealth firms

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Nevis raises $70m Series B to scale AI for wealth firms

Nevis, a WealthTech developing an AI operating system for wealth management, has closed a $70m Series B round, taking its total capital raised to $110m within two years of launch.

EQT Ventures led the investment. Charles Schwab, Sequoia Capital, ICONIQ, QuantumLight and Ribbit Capital also took part.

As part of the deal, EQT Ventures partner and head Carolina Brochado will join the Nevis board of directors, and Kaushik Subramanian will become a board observer.

Charles Schwab came in as a strategic backer, and the two firms plan to deepen their partnership so Nevis agents can work across Schwab’s custodial infrastructure, opening up new automation options for advisers.

The company plans to use the new capital to speed up work on its AI agents and to extend its platform across the whole wealth management technology stack.

Nevis has scaled quickly over the past twelve months. Assets on the platform have risen from $50bn to more than $700bn, with about $75bn being added each month. Revenue has increased more than 25-fold, its AI agents have handled over 100,000 operational tasks, and dozens of new products have been released. The business employs 70 people.

The company combines CRM, meeting intelligence, financial planning and custodial workflows in a single platform, with AI agents that carry out operational work from start to finish.

Its goal is to free up financial advisers so they can spend more time with clients, provide better advice and grow their practices. Clients include Focus Financial Partners, IEQ Capital and United Capital.


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