Ex-Revolut founders' Nevis raises $70m Series B led by EQT Ventures for AI wealth management
Two years after it was founded, the wealthtech started by three former Revolut executives has raised $110m in total. Charles Schwab and Nik Storonsky's QuantumLight join as new investors, and EQT Ventures' Carolina Brochado takes a board seat.
Nevis, a wealth management software company founded by three former Revolut executives, has raised a $70 million (about €62 million) Series B led by EQT Ventures, the company said in an announcement on 26 October 2026. Charles Schwab and QuantumLight, the venture firm founded by Revolut CEO Nik Storonsky, join as new investors. Existing backers Sequoia Capital, ICONIQ and Ribbit Capital all increased their investment.
The round brings Nevis's total funding to $110 million in the two years since it was founded. Fortune and The Next Web describe the company as New York-based; EU-Startups lists it as based in London and New York. Its customers so far are US wealth management firms.
What Nevis builds
Nevis describes itself as an "AI operating system for wealth management". According to the company, it brings CRM, meeting intelligence, financial planning and custodial workflows together in one platform, with AI agents that complete operational work end to end rather than only assisting with single tasks. The company stresses that advice itself stays human-led: the agents are meant to take over the paperwork around it.
The company was founded by Mark Swan (CEO), Philipp Burda and Ivan Chalov, who all held senior roles at Revolut before starting Nevis. It now has about 70 employees. Named customers include Focus Financial Partners, IEQ Capital and United Capital.
The numbers Nevis gives
Nevis says assets held by firms on its platform have grown from $50 billion to more than $700 billion over the past year, and that it now adds about $75 billion a month. It says revenue has grown more than 25 times and that its agents have completed more than 100,000 operational tasks. These are company figures; Nevis does not disclose absolute revenue.
The company also says advisors using the platform reclaim up to 10 hours a week, take 30% more prospect meetings and open client accounts in days instead of weeks. Again, these are claims from the company rather than independently audited results.
Who is investing, and why it matters
EQT Ventures, the venture arm of Swedish investment group EQT, leads the round. Carolina Brochado, Partner and Head of EQT Ventures, joins the Nevis board. "Mark, Philipp and Ivan have built an exceptional AI platform at a time when wealth management faces a growing capacity gap, with advisors retiring as demand for advice rises," she said in the announcement.
Charles Schwab's role is strategic. Nevis says the partnership will let it extend its agents across Schwab's custodial infrastructure, which serves more than 17,000 independent registered investment advisers. Jon Beatty, Head of Schwab Advisor Services, said the investment "expands that ecosystem, helping advisors harness AI to operate more efficiently, increase their capacity and ultimately serve more investors."
QuantumLight's participation closes a loop: Swan wrote that the founders know Storonsky from their time at Revolut. For Storonsky's fund, it is a bet on a company built by people from his own management team, and a sign of how Revolut is becoming a source of new founders, much as earlier fintechs did. EQT has been active in European software this autumn, as seen in the EQT-managed fund's role in Pigment's $250m round.
The problem Nevis is aiming at
Nevis's pitch rests on a capacity gap in US financial advice. Fortune, citing McKinsey research, reports that around 110,000 US advisors are expected to retire over the next decade, which could leave the industry short of about 100,000 advisors by 2034. If fewer advisors must serve more clients, software that removes admin work becomes more valuable.
"Nevis agents finish the work, so every advisor can give every client the white-glove attention of a full-service team," Swan said in a statement reported by Fortune and The Next Web.
Nevis says it will use the money to speed up development of its AI agents, deepen integrations with custodians and other wealthtech systems, and hire across product and go-to-market. Its stated ambition is to become the operating system for the global wealth management industry.
What it means for European founders and investors
For European founders, Nevis is another example of a team with European fintech experience building first for the US market, where wealth management is larger and more fragmented. The company kept a London office, but its customers, its strategic partner and its market data are American. That pattern is familiar from other AI companies that started in Europe, such as legal AI firm Legora.
For investors, the round shows that money is following vertical AI that does the work inside a regulated profession, not general chat tools. It sits alongside other financial data and AI deals covered this month, such as Cognitive Credit's $40m raise. AI remained the main driver of European tech funding in Q3 2026.
The open question is whether European wealth managers, which work under different rules and with smaller independent advisor networks, will adopt agent platforms at the same pace. Nevis has not announced plans for European customers. Further coverage is available from Sifted and WealthManagement.com.
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