Nevis, an AI platform for wealth management, has emerged from stealth with fresh backing as it looks to overhaul how financial advisors work.
The company, founded less than a year ago, develops technology aimed at freeing advisors from time-consuming administrative tasks.
The firm has secured $35m in a Series A round led by Sequoia Capital, with participation from ICONIQ and Ribbit Capital, bringing its total funding to $40m. The raise reflects growing investor appetite for automation and AI tools in the rapidly expanding WealthTech space.
Nevis builds AI systems that automate end-to-end workflows for Registered Investment Advisors (RIAs). The business already supports advisors managing more than $50bn in client assets across some of the fastest-growing wealth management firms in the US. The platform is onboarding customers quickly amid rising demand for tools that can cope with increasingly complex advisory workloads.
The fresh funding will be used to strengthen product development and scale its platform. Nevis is focused on boosting advisor capacity by taking on operational processes, from preparing for client meetings to opening new accounts. The company says this can dramatically increase productivity across wealth management firms and improve client service.
According to the firm, wealth managers in the US face a persistent challenge around capacity. More than 50m Americans rely on financial advisors, yet advisory teams spend up to 80% of their time on back-office tasks. Nevis argues that this slows growth, increases costs, and restricts access to quality financial guidance. The company’s technology aims to remove those bottlenecks and support better decision-making.
“Nevis is the world’s first AI platform for wealth management,” said Nevis CEO Mark Swan. “We’re building a future where every financial advisor is supported by an AI platform that can actually complete operational tasks end-to-end. From helping advisors prepare for client meetings to opening custodian accounts, Nevis streamlines the workflows that consume the majority of an advisor’s time. With this level of automation, advisors can focus on what matters most: delivering best-in-class client service and growing their business.”
“Nevis will completely transform our technology stack, updating it for the future with critical AI-enabled features that will have a meaningful impact on how we do our jobs every day and service clients,” said United Capital president Jim Rivers.
“We’ve explored every so-called ‘AI wealth tech,’ but Nevis stood out for being the real thing, a purpose-built, modern platform reimagining the advisor experience from the ground up,” said Dave Breslin, executive vice president of GC Wealth.
Nevis was founded by Mark Swan, Philipp Burda and Ivan Chalov, all former Revolut executives. Previous investment stands at $5m, taking total funding to $40m including the latest round.
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