❯ Nevis raises $70 million to build AI tools for financial advisors

Funding and foundersWealth technology company Nevis announced a $70 million Series B led by EQT Ventures, with Charles Schwab, Sequoia Capital, ICONIQ, QuantumLight and Ribbit Capital participating. The company says it has raised $110 million in two years. Fortune reports, citing a person familiar with the deal, that the round valued Nevis at about $500 million; the company did not disclose a valuation. Its founders previously worked at Revolut.

Who pays for itNevis serves financial advisors and wealth management firms. In addition to advising clients, advisors prepare meetings, organize client information, open accounts and communicate with custodians. Nevis connects customer management, meeting notes, financial planning and custody workflows so AI agents can assist with repetitive work.

A practical workflowAfter a client meeting, an advisor can generate follow-up tasks and a financial plan from the conversation, then connect that work to account opening rather than re-entering information in multiple systems. EU-Startups reports that the funding will expand agent capabilities, integrations and product and sales teams.

ProgressNevis says its customers serve more than $700 billion in client assets and its agents have completed over 100,000 operational tasks. Those assets belong to customers’ clients, not to Nevis as an asset manager. Strategic investor Charles Schwab also provides a basis for connecting the product with its custody services.

▮ SIGNALFinancial AI assistants are moving from meeting summaries toward linking client information, account opening and follow-up service.