Nevis raises $70 million as wealth-management AI moves deeper into operational work

EQT Ventures leads the round, with Charles Schwab joining a platform that connects adviser records, planning and custodial workflows.

Nevis has raised a $70 million Series B led by EQT Ventures, with Charles Schwab, QuantumLight and existing investors participating. Chief executive Mark Swan's October 26 announcement puts the company's total funding at $110 million, two years after its founding.

The platform combines customer relationship management, meeting information, financial planning and custodial workflows. Its agents are intended to complete administrative work across those systems, allowing financial advisers to spend more time with clients. Nevis names Focus Financial Partners, IEQ Capital and United Capital among its customers.

The company says those customers represent more than $700 billion in assets. That figure describes the reach of firms using the software; it should not be read as money Nevis itself manages. Swan also reports more than 100,000 completed operational tasks and says revenue has grown more than 25 times this year, without publishing an absolute revenue figure in the announcement.

Schwab's role connects the investment with an important operating dependency. A custodian's account-opening processes are part of the work an adviser must complete after a client conversation. Integrating those steps can make a broader platform more useful than a standalone meeting transcription tool.

EQT Ventures' Carolina Brochado joins the board, with Kaushik Subramanian becoming an observer. The new capital is intended to expand agent development and the platform's coverage across wealth-management technology. Its central commercial proposition is continuity between client information and completed paperwork, while advice remains human-led.

Sources

- [Nevis Raises $70M Series B Led by EQT Ventures](https://www.neviswealth.com/blog/nevis-raises-70m-series-b/) — Nevis