Nevis Raises $70 Million Series B Led by EQT Ventures as Schwab and QuantumLight Join

Nevis, a startup building AI for wealth advisers, raised a $70 million Series B led by EQT Ventures, as reported by Tech Funding News on October 27, 2026. Charles Schwab and QuantumLight, the fund set up by Revolut founder Nik Storonsky, joined as new strategic investors. Existing backers Sequoia, ICONIQ and Ribbit increased their commitments. The round takes total funding to $110 million.

The Valuation

Nevis has not disclosed its valuation. A source quoted by Fortune said the round values the company at $500 million. Bloomberg reported a $200 million valuation at the $35 million Series A in December 2025, so the reported new figure is about 2.5 times higher in under a year. Both figures are unconfirmed by the company.

The Funding Path

Nevis has now raised in three steps: a $5 million seed in September 2024, a $35 million Series A in December 2025 and the new $70 million Series B. That adds up to the $110 million total, and the Series B is twice the size of the Series A, raised about ten months later. The company says assets on its platform grew from $50 billion to $700 billion over 2026, which is the growth the new investors are paying for.

What Nevis Does

Nevis sells software to wealth management firms that already employ advisers. The platform combines CRM, meeting intelligence, financial planning and custodial workflows, so an adviser can produce a financial plan and proposal in minutes. Its customers include Focus Financial Partners, IEQ Capital and United Capital. The company says financial advisers can spend up to 80 percent of their time on admin, using eight to ten different software tools.

The Founders

Mark Swan, Ivan Chalov and Philipp Burda worked together at Revolut. Swan led global strategy and operations, Chalov led the consumer retail business and Burda led AI. Swan left in spring 2024. Sequoia's Luciana Lixandru and George Robson, both former Revolut employees, led a $5 million seed round in September 2024. The original plan was to target the UK, but Sequoia's partners pushed the team toward the larger US market.

The Numbers

Nevis says assets under management by firms on its platform grew from $50 billion to $700 billion in 2026, adding about $75 billion a month, and that revenue rose more than 25 times over the period. It says its agents have completed more than 100,000 operations, and that advisers save up to 10 hours a week and hold 30 percent more prospect meetings. The $700 billion is the share of client assets managed on the platform, not assets Nevis owns or holds. All figures are company-reported and not independently verified. The company has about 70 employees and offices in London and New York.

A Crowded Field

Others are raising in the same area. Jump, an AI meeting assistant for advisers, raised an $80 million Series B led by Insight Partners. Savvy Wealth raised a $100 million Series C at a $600 million valuation. Arca emerged from stealth with $64 million. McKinsey estimated in 2025 that 110,000 US advisers will retire within ten years, which is the capacity gap these companies target.

The Risk

The risk is who owns the workflow. Custodians, model vendors and rivals such as Jump all want the same position with advisers, and Nevis sells to firms that already have their own advisers. If a custodian or a competitor offers a similar tool inside a platform advisers already use, switching costs could shrink.

What This Means for Founders

First, a founder network can open doors. Nevis's founders came from Revolut, and Sequoia partners who were also Revolut alumni led the seed round. If you have a former colleague in venture, ask for advice, but still earn the introduction with proof.

Second, listen to your lead investor on the market. Sequoia pushed Nevis toward the US, and the company changed its plan. Test the advice with customers, as Swan did by visiting advisory firms in person.

Third, define your headline number. Nevis's $700 billion refers to assets on its platform, not revenue, so say what each metric measures. Investors in due diligence will test it, and a clear definition protects your credibility. Keep your dilutionand valuation in mind when a round steps up fast, since a higher price raises expectations for the next one.

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