Nevis raises $70M as EQT, Schwab and QuantumLight back ex-Revolut team’s AI for wealth advisers
Tech Funding News Sofia Chesnokova ● Covered by 2 sources
Nevis raised $70M from EQT, Schwab and QuantumLight. The AI startup says assets on its platform jumped from $50bn to $700bn in 2026.
Based on reporting by Tech Funding News, Sofia Chesnokova — read the original for the full story.
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Nevis has pulled in $70 million in Series B funding and brought in some heavyweight backers while it does it. EQT Ventures led the round, Charles Schwab came in as a new strategic investor, and QuantumLight — the fund started by Revolut founder Nik Storonsky — joined too. Existing investors Sequoia, ICONIQ and Ribbit also increased their stakes. Nevis did not say what valuation came with the deal, though a source cited by Fortune put it at $500 million.
The company’s founders know each other well from Revolut. Mark Swan joined in 2021, found an office with no manager, and later worked under Ivan Chalov. Swan had been running global strategy and operations, Chalov led consumer retail, and Philipp Burda led AI. Swan left in spring 2024, then started speaking with advisers and customers as the company formed. Sequoia had already been tracking him as a possible founder, and former Sequoia talent leads Luciana Lixandru and George Robson led Nevis’s $5 million seed round in September 2024.
Nevis is aiming at the ugly, repetitive part of wealth management. Swan saw advisers spending as much as 80% of their time on admin and juggling 8 to 10 software products. The platform combines CRM, meeting intelligence, financial planning and custodial workflows so advisers can create a bespoke plan and proposal in minutes. Nevis says its agents have carried out more than 100,000 operations, and advisers using the system can save up to 10 hours a week, hold 30% more prospect meetings and open accounts in days instead of weeks.
The growth claim is the eye-popper. Nevis says assets under management on firms using its platform rose from $50 billion to $700 billion in 2026, adding about $75 billion a month. Revenue, it says, rose more than 25 times over that span. Customers include Focus Financial Partners, IEQ Capital and United Capital. The company now has about 70 employees across London and New York, and the fresh cash is going toward better AI agents, more custodians and wealth software connections, and a bigger product and sales team.
My take — AI-written commentary, not fact-checked reporting
Wealth tech is turning into a fight over the workflow, not the logo on the front page. Schwab backing an ex-Revolut team here is a good sign that the incumbents know advisers want fewer tabs, fewer forms and less ceremony. The industry still loves a shiny AI pitch, but the real prize is owning the boring bits no one wants to do.
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