Nevis raises $70M Series B led by EQT Ventures for AI wealth platform

Charles Schwab and QuantumLight, the fund of Revolut founder Nik Storonsky, joined as new strategic investors. Sequoia Capital, ICONIQ and Ribbit Capital expanded their commitments in the round. Reports put the valuation at $500 million. Nevis describes its product as an AI operating system for wealth management. Schwab serves more than 48 million client accounts and supports more than 17,000 independent RIAs, and the company says it adds about $75 billion in new platform assets each month. For founders, the round shows that regulated financial services buyers will back vertical AI tools once they reach scale. Distribution through a custodian such as Schwab can matter as much as the model layer, so teams selling into advisers should study how the company reached that channel.