Nevis raises $70M Series B to put AI agents inside wealth management
EQT Ventures led a $70 million Series B into Nevis, a London company whose AI agents clear the admin behind American financial advice. Charles Schwab came along for the distribution.
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Founded 2024 · London, United Kingdom
Nevis, a London-registered wealth technology company founded by three former Revolut operators, has raised $70 million in a Series B led by EQT Ventures, with Charles Schwab and QuantumLight joining to automate the administrative work of American financial advisors.
A European company announcing a $70 million round is good news. A European company announcing a $70 million round whose customers are almost entirely American is a more complicated kind of good news, and that is the one in front of us this week. Below, I lay out what Nevis raised, what it sells, and what the shape of this round says about where European software is finding its buyers.
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Seventy million dollars, led by EQT Ventures
Nevis announced the round on October 26, 2026. EQT Ventures led it, and Carolina Brochado, Partner and Head of EQT Ventures, joins the board (Nevis announcement, October 26, 2026). Charles Schwab came in as a strategic investor alongside QuantumLight, the fund founded by Revolut’s Nik Storonsky. Sequoia Capital, ICONIQ and Ribbit Capital each increased positions they already held.
The $70 million takes total funding to $110 million since the company started, after a $5 million seed in September 2024 and a $35 million Series A (Tech Funding News, October 2026). At the mid-market rate of 1 USD to 0.8976 EUR (XE, October 27, 2026), the round is worth about 62.8 million euros. Nevis says the money goes to its AI agents, to deeper connections with custodians and the rest of the wealth technology stack, and to its product and go-to-market teams.
Three ex-Revolut operators and seventy people
Nevis Wealth Technology Ltd was incorporated in London on October 14, 2024 (UK Companies House), and works out of London and New York. Mark Swan, Ivan Chalov and Philipp Burda all come from Revolut, where they led global strategy and operations, consumer retail and AI respectively (Tech Funding News, October 2026). The team is seventy people.
The product does the administrative half of a financial advisor’s job. CRM, meeting notes, financial planning and custodial workflows sit in one place, and software agents carry out steps a human would otherwise click through. Nevis says its agents have completed more than 100,000 operational tasks, that assets on the platform grew from $50 billion to more than $700 billion over the past year, and that revenue grew more than 25 times (Nevis announcement, October 26, 2026). Named customers include Focus Financial Partners, IEQ Capital and United Capital. Those figures come from the company and have not been independently audited.
Mark Swan, CEO and co-founder, drew the boundary himself: “Financial advice is, and always will be, human-led.”
A $7.9 billion software market and 100,000 missing advisors
The segment Nevis sells into, wealth technology solutions, is worth $7.91 billion in 2026 and is forecast to reach $16.23 billion by 2031, a 15.46% CAGR over 2026-2031 (Mordor Intelligence, page updated September 11, 2026). Respectable, and a long way from enormous. The real pull sits on the other side of that market. McKinsey put the US wealth management industry on course for a shortage of around 100,000 advisors by 2034, with roughly 110,000 retiring over the decade (McKinsey, February 2025). Capacity is what a company like this is actually selling.
Our own European fundraising data puts the check in scale. Wealthcome raised 15 million euros in a Series B led by Breega on September 24, 2026, and Cognitive Credit took $40 million from Summit Partners on October 22, 2026. Nevis raised more at the same letter than either of them. The difference is where the revenue sits.
London builds it, America buys it
Here is the pattern worth naming. Nevis is a London company by registration and by founding team, and its disclosed customers are American wealth firms. The reality is that European wealth management is fragmented across national regulators, national custodians and national tax regimes, so a Europe-first version of this product would be selling into twenty-seven versions of the same problem. The good news is that the engineering talent that solved the problem is sitting here, trained at Revolut, and the capital followed it home, with EQT Ventures, a European fund, leading the largest round this company has raised.
What we are seeing is a third route out of the old choice between staying small in Europe and moving the whole company to the United States. Build in London, sell in New York, keep the cap table European. Remember: Schwab writing a strategic check is a distribution signal before it is a financial one, and distribution is the thing European software has historically lacked.
What to watch is whether any of it comes back. A company with $700 billion of American assets on its platform has every reason to keep going west, and very little reason to take on twenty-seven regulators.
Watch where the next one sells
Imagine if the next company of this shape treated the fragmentation as the product, and built the layer that makes a German custodian, a French one and a Dutch one look identical to an advisor’s software. That is a harder company to build and a slower one to scale, and it is the one that would make European wealth management worth more than the sum of its national markets. The checks are clearly available. Who writes that one? Let’s go and find out.
