Ex-Revolut Nevis Lands $70M Series B at $500M Valuation

Nevis, a 70-person startup launched in October 2024 by three former Revolut executives, has raised a $70 million Series B led by EQT Ventures at a reported $500 million valuation, Fortune reported. That valuation comes from "a person familiar with the matter who requested anonymity to discuss private financial details," not from the company.

CEO Mark Swan led global strategy and operations at Revolut; co-founder Philipp Burda headed AI there, and Ivan Chalov ran its consumer retail business. The company now has roughly 20 customers, including Focus Financial Partners, IEQ Capital, and United Capital. Nevis says the assets managed by advisory firms using its platform grew from $50 billion to $700 billion over the past year, with about $75 billion added each month.

The product consolidates the fragmented tooling advisors wrestle with today. "An average advisor is dealing with about seven outdated systems to do different things within the workflow," said Carolina Brochado, a partner and head of EQT Ventures, who is joining Nevis's board. "What Nevis has built … is a platform that does all these things."

The round brings total funding to $110 million. New investors QuantumLight and Charles Schwab Corp. joined existing backers Sequoia Capital, Iconiq, and Ribbit Capital. It lands amid a steady run of agentic-software raises — our funding tracker has logged 419 AI financings in the past 90 days.