Nevis Secures $35M in Series A Funding

Nevis, an AI platform for wealth management, has raised $35 million in a Series A round from Sequoia Capital, ICONIQ and Ribbit Capital, bringing its total funding to $40 million less than a year after founding.

Nevis builds AI tools that help financial advisors automate their administrative workflows end-to-end. The company supports registered investment advisors (RIAs) that collectively manage more than $50 billion in client assets.

“We’re building a future where every financial advisor is supported by an AI platform that can actually complete operational tasks end-to-end,” said Mark Swan, CEO of Nevis.

“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’s customers include wealth management firms of all sizes, from national RIAs serving high-net-worth clients like United Capital and Apollon Wealth Management, to firms focused on ultra-high-net-worth families like GC Wealth.

Nevis was founded by Mark Swan now CEO, Philipp Burda, now chief product officer, and Ivan Chalov, now chief operating officer. All were formerly executives at Revolut, a digital bank serving over 65 million clients globally and Europe’s highest valued private technology company.

The $35 million Series A comes less than a year after its $5 million seed round which was led by Sequoia. As part of the round, Sequoia’s Luciana Lixandru will be joining the Nevis board. Ribbit Capital, best known as an early backer of category-defining financial technology companies including Robinhood, Nubank, Coinbase, and Revolut, invested in the Series A, alongside ICONIQ, a global VC and wealth management firm for ultra-high net worth individuals.

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