Takeaways by Saasverse AI
- Nevis | Series A | $35 Million (Cumulative: $40 Million) | AI-Native Wealth Management Platform.
- Led by Sequoia Capital, ICONIQ, and Ribbit Capital, with plans to enhance AI-driven workflow automation for financial advisors.
- Focus Areas: End-to-end administrative task automation, scaling financial advisory services, and redefining wealth management with agentic AI.
Nevis, an AI-native wealth management platform, has raised $35 million in a Series A funding round, bringing its total funding to $40 million within its first year. The round was co-led by Sequoia Capital, ICONIQ, and Ribbit Capital, with Sequoia's Luciana Lixandru joining the board. Nevis is on a mission to address a fundamental imbalance in the wealth management sector: the growing demand for financial advisory services versus the limited capacity of advisors trapped in administrative inefficiencies.
The company was founded by Mark Swan (CEO), Philipp Burda (CPO), and Ivan Chalov (COO), all former executives at Revolut, Europe’s most valuable private tech company with a $75 billion valuation. Drawing on their expertise in scaling financial systems, the team is tackling one of the industry's most pressing issues: advisors spending 80% of their time on compliance, account setup, and reporting, leaving just 20% for client interaction. This inefficiency not only limits the growth of Registered Investment Advisors (RIAs) but also keeps high-quality financial advice out of reach for broader audiences.
Unlike traditional AI tools or plugins that bolt onto legacy systems, Nevis is a fully AI-native platform built from the ground up. It automates the entire advisor workflow, acting as a tireless "junior analyst" or "operations specialist." From preparing client meeting materials to executing complex custodial account setups, Nevis integrates deeply into existing processes, seamlessly removing bottlenecks and enabling advisors to scale their operations.
The platform is already making waves, supporting advisors managing over $50 billion in assets. Clients range from industry giants like United Capital, which serves high-net-worth individuals, to boutique firms like GC Wealth, focused on ultra-high-net-worth families. Feedback has been overwhelmingly positive: United Capital’s president, Jim Rivers, highlighted how Nevis unifies fragmented systems, fundamentally transforming the advisor's daily workflow. Meanwhile, GC Wealth’s executive Dave Breslin praised the platform's forward-looking, cohesive design, describing it as a tool built for the next decade rather than a patchwork upgrade of legacy software.
The new funding will be used to further refine Nevis's AI Agent capabilities, enabling it to tackle increasingly complex, cross-system tasks. By automating administrative burdens, Nevis aims to free financial advisors to focus on building trust and delivering strategic, human-centered advice.
Saasverse Insights
Nevis’s rapid rise underscores the maturation of Vertical AI solutions, signaling a shift in AI’s commercial focus toward workflow automation and industry-specific applications.
- From Copilot to Autopilot: Nevis represents a leap from tools that assist advisors (Copilot) to systems that autonomously manage entire workflows (Autopilot). This evolution of Agentic AI challenges the traditional headcount-driven growth model in professional services. For wealth management firms, this means scaling assets under management (AUM) exponentially without proportional increases in operational overhead.
- AI-Native vs. Legacy IT: By building its platform as an AI-native operating system, Nevis delivers a decisive advantage over legacy financial software, which is often fragmented and inefficient. This isn’t merely a technological edge—it’s a fundamental reengineering of process logic, offering unparalleled user experience and productivity.
- Democratizing High-Value Services: While Nevis currently serves high-net-worth and ultra-high-net-worth clients, its efficiency dividends have the potential to democratize financial advisory services. By lowering operational costs, the platform could eventually make tailored financial planning accessible to middle-income families, breaking down traditional barriers in wealth management.
As the wealth management market continues to expand, Nevis’s ability to combine AI innovation with deep industry expertise positions it as a transformative player in the space. By turning the "scale wall" of administrative inefficiency into a stepping stone, Nevis is paving the way for a wealth management industry that is not only more scalable but also more inclusive.