Former Revolut executives Mark Swan, Ivan Chalov and Philipp Burda have raised $70M for Nevis, their startup that uses AI agents to take paperwork off wealth advisers’ desks. EQT Ventures led the Series B round, which brings the company’s total funding to $110M about two years after it launched.
Carolina Brochado, a partner and head of EQT Ventures, is joining the Nevis board, while fellow partner Kaushik Subramanian becomes a board observer.
Brochado said the three founders had “built an exceptional AI platform at a time when wealth management faces a growing capacity gap”, adding that Nevis is “helping firms serve more clients and scale efficiently”.
That gap is the problem Nevis is built around. Its agents are designed to take over routine work such as forms, notes and follow-ups from start to finish, with the aim of letting a firm look after more clients without adding staff at the same rate.
Two new strategic investors joined the round. One is Charles Schwab, the American brokerage that supports more than 17,000 independent registered investment advisers (RIAs), the advisory firms that make up much of Nevis’s market. The other is QuantumLight, the fund set up by Revolut founder Nik Storonsky, which reunites the founders with their former boss as an investor. Existing backers Sequoia Capital, ICONIQ and Ribbit Capital all put in more money.
Jon Beatty, head of Schwab Advisor Services, said the brokerage has “built an AI ecosystem that gives advisors greater choice and access to capabilities that can help them run and grow their firms”.
Nevis plans to spend the money on giving its agents more abilities, connecting with more of the custodians and software that advisers rely on, and growing its product and sales teams.
One Platform For Advisers’ Admin
Nevis describes itself as an AI operating system for wealth management. It brings several tools that advisers usually run separately into one place: customer relationship management (CRM) software, meeting notes, financial planning and the paperwork that passes between an advisory firm and its custodian, the institution such as Schwab or Fidelity that actually holds clients’ money and investments.
In practice, that means the platform can turn meetings and emails into tasks, draft replies, prepare advisers for meetings and gather client data. On the back-office side, it automates account opening at Schwab and Fidelity, moves money between accounts and handles client onboarding and account maintenance.
Rather than relying on one AI model, Nevis routes work across models from Anthropic, OpenAI and others. The company says it has enterprise-level agreements with leading AI providers, never uses private client data to train AI models and is SOC 2 Type II compliant, meaning it has passed an independent audit of how it protects customer data.
It is also adding voice. In December 2025 Nevis bought Ledra AI, a startup specialising in conversational and voice AI, to build an agent for voice and analytics. Swan wrote in a blog post at the time that “voice AI is the next frontier in how people interact with software”.
Focus Financial Signs Up
Earlier this month, Focus Financial Partners chose Nevis as its enterprise AI platform. Focus, a network of wealth management firms with more than $500B in client assets, described the deal as a “significant investment in Nevis’ wealth management technology”, without giving terms.
Justin Ferri, Focus’s chief operating officer, said “the first work will center on account opening, client onboarding, and similar repetitive manual tasks”. Swan said “every Focus advisor will work from Nevis as a single AI operating system, with agents that complete work end-to-end”.
The deal leaves Focus with some overlap to sort out. In January it rolled out an AI assistant from Jump, another startup selling to advisers, to 800 of its advisers. Both tools take meeting notes, and Jump has begun testing account opening in a limited beta. Focus has said it will review how the tools work together as the rollout develops, but that “there is no change to the tools our teams use today”.
Other named customers include IEQ Capital and United Capital, and Nevis says its clients include some of the largest and fastest-growing advisory firms in the United States.
Growth The Company Reports
According to Nevis, its revenue has grown more than 25 times this year. Over the same period, assets on its platform rose from $50B to $700B, and it says about $75B in new assets is now being added each month. That money belongs to advisers’ clients, not to Nevis.
The company says its agents have completed more than 100,000 operational tasks. It also says customers get back up to 10 hours a week, hold 30% more meetings with prospective clients and open accounts in days rather than weeks. None of these figures has been independently verified.
“Our customers measure Nevis in business results: more client calls, hours back every week, and accounts opened every day,” Swan said.
From Revolut To Wealth Management
The three founders met at Revolut, the British digital bank, before starting Nevis in 2024. Swan is chief executive, Burda is chief product officer and Chalov is chief operating officer. The company takes its name from Ben Nevis, the highest mountain in Scotland, where Swan is from.
Sequoia led a $5M seed round, and in December 2025 Nevis came out of stealth with a $35M Series A from Sequoia, ICONIQ and Ribbit Capital. At that stage it had about 30 staff, mostly in product, engineering and AI, and early customers included United Capital, GC Wealth and Apollon Wealth Management.
Nevis Steps Up
Nevis now has fresh money from EQT Ventures, two strategic backers in Schwab and QuantumLight, and a large new customer in Focus Financial Partners. Its plan is to keep moving advisers’ routine work, from account opening to meeting follow-ups, onto agents that complete tasks end to end.
The growth and time-saving figures come from the company itself, and Nevis is not the only startup chasing this work. At Focus, it shares the ground with Jump, and the firm is still reviewing how the two work together.
For now, Nevis is betting that advisory firms will want one AI system running their operations rather than a collection of separate tools. With Schwab among its investors and Focus among its customers, its next test is turning those relationships into wider use across American advisory firms.
