Ex-Revolut leaders Mark Swan, Philipp Burda, and Ivan Chalov are back at it, shaking up the fintech scene. This time, they've launched Nevis, a platform designed to tackle the everyday headaches of wealth managers with the help of artificial intelligence. Backed by $35 million in Series A funding, this startup has caught the attention of dominant venture players like Sequoia Capital, ICONIQ, and Ribbit Capital. As appealing as this success story might seem, many female entrepreneurs, myself included, know how rare these headlines still are for women-led ventures. Let’s dive into how Nevis is making waves and why this matters for founders like us.
What does Nevis actually do?
Nevis sets itself apart by automating time-consuming admin tasks for wealth advisors, like onboarding clients or preparing compliance documentation. Instead of patching together different software tools, Nevis offers a unified solution. Their approach gives advisors more headspace to focus on building stronger client relationships rather than paperwork.
Mark Swan, Nevis's CEO, says the ultimate vision is a seamless experience for advisors, allowing them to assign tasks that the platform completes end-to-end. As a tech entrepreneur who has bootstrapped my ventures (and built systems to save time on repetitive tasks), I find this idea not only practical but also lucrative. Automating admin tasks is where businesses can gain both scalability and satisfaction, two elements every founder strives for.
Breaking down the funding
The $35 million comes from some of the heaviest hitters in venture capital. Sequoia led the charge, with ICONIQ and Ribbit Capital joining. For context, these firms are no strangers to successful bets, having backed giants like Robinhood, Nubank, and Revolut itself. Within just one year, Nevis has built enough momentum to pull off a total of $40 million in funding, following an earlier seed round.
And here’s an essential detail: Sequoia’s lead investor, Luciana Lixandru, has joined Nevis’s board. She’s no small voice in the world of venture capital, which might hint at how VCs are increasingly eyeing AI-driven tools for niche industries like finance.
Lessons for female entrepreneurs
Women founders can learn a lot from Nevis’s journey. While the challenges we face may differ, fundraising being a big one, it’s still worth dissecting what works for tech startups, even if the founders don’t look or pitch like us. Here’s what stood out to me as practical tips:
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Deep Expertise Earns Trust: The team’s Revolut background made investors confident they could pull off another fintech success. Building niche or sector-specific knowledge can make your pitch stronger, even when biases exist.
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Focus on Solving a Clear Problem: Nevis doesn’t try to be everything to everyone. It clearly addresses bottlenecks in advisory workflows. If you’re a solo founder, narrowing your focus early is critical (trust me, I’ve learned this the hard way).
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Make Noise to Gain Attention: While I prefer a lean approach to scaling, closing visible rounds like Nevis’s Series A gets investors to see your business as “the one to watch.” If your startup tackles a neglected niche or builds a platform specifically for underserved audiences, consider amplifying your story via PR or strategic partnerships.
Common mistakes startup founders make
Being in the startup world for over five years, both as an entrepreneur and an observer, I’ve seen plenty of pitfalls firsthand. Here are some we should all aim to avoid, whether or not you’re leading a tech-powered business like Nevis:
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Underestimating Time-to-Scale: AI and product-heavy startups don’t just flourish overnight. Strong engineering talent costs time and resources. Nevis’s steady growth is a great reminder: you don’t need to skyrocket as long as your foundation is solid.
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Minimizing Customer Feedback: Founders often fall into a trap of designing for their “ideal” user rather than real feedback from the trenches. Direct customer interviews are priceless. At Fe/male Switch, we’re constantly asking how we could improve, and sometimes the answers surprise us.
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Skipping Early Validation: Before building big features, test small versions. Nevis could have wasted millions building irrelevant tools if their beta users hadn’t identified which admin processes required automation the most.
Could Europe catch the AI startup wave?
As a European founder, it’s impossible not to think about how our region stacks up globally when reading headlines like these. While the AI race seems dominated by the U.S., the scene in Europe shows promise if more funding shifts to emerging niches. According to Bloomberg’s breakdown of the funding, Nevis’s U.S. wealth management focus likely played a role in the size of its round. The opportunity is clear: build AI-enabled startups in industries Europe excels at, such as energy, healthcare, or governance.
For female entrepreneurs looking to approach funding differently, joining the dots between sector opportunities, grit, and visibility matters. Look at EU grants and alternative funding options alongside traditional avenues. It worked for me when securing resources for our blockchain policy work at CADChain.
Impact beyond Nevis
The AI tools market predicted to grow rapidly will affect industries far beyond Nevis’s niche. For those of us in different sectors, education, creative industries, or even gaming, tracking this trend and applying pieces of it could unlock potential. Whether it’s automating content development or advising businesses on compliance, services that save time by reducing friction often win.
Final thoughts on turning insights to action
If Nevis’s $35 million raise teaches us anything, it’s this: specializing can scale faster than trying to solve every problem at once. For female startup founders in Europe, success means finding your space, identifying the right partners for growth, and carefully aligning funding decisions with long-term goals. Not every venture needs tens of millions upfront, sometimes resourcefulness beats resources.
Learn more about Nevis Platform’s story to see if this sparks ideas for your own rise in 2024 and beyond. Ultimately, success starts small but scales with focus, just like a well-built AI platform.
FAQ
1. What is Nevis, and who founded it?
Nevis is an AI-powered platform designed for wealth management, automating time-consuming administrative tasks for financial advisors. It was founded by ex-Revolut leaders Mark Swan (CEO), Philipp Burda, and Ivan Chalov. Learn more about Nevis Wealth
2. What problem does Nevis aim to solve?
Nevis addresses the issue of manual administrative workloads in wealth management, such as client onboarding and compliance documentation. The AI platform streamlines operations, allowing advisors to focus on client relationships. Discover Nevis's vision at Tech Funding News
3. How much funding has Nevis raised so far?
Nevis has raised a total of $40 million, including $35 million in a recent Series A round led by Sequoia Capital, ICONIQ Growth, and Ribbit Capital. Read about Nevis's funding journey on Business Wire
4. Who are the key investors involved in Nevis's funding?
The key investors include Sequoia Capital, ICONIQ Growth, and Ribbit Capital. Notably, Luciana Lixandru from Sequoia has joined Nevis’s board. Explore Sequoia's investment in AI at Bloomberg Law
5. What makes Nevis's platform unique?
Unlike traditional tools, Nevis provides a unified AI-native platform that automates end-to-end workflows, rather than piecing together disparate software. Understand why Nevis stands out at Citywire
6. How does Nevis impact financial advisors?
Nevis reduces the time advisors spend on manual tasks, like preparation and reporting, enabling a greater focus on client support and strategy. Learn how Nevis supports advisors at Finextra News
7. What market demand is driving Nevis’s development?
The wealth management industry faces growing complexity and client base expansion. Advisors need scalable solutions to efficiently manage these demands, which Nevis offers. Explore the market trends in wealth management at WealthManagement.com
8. What industries could benefit from AI platforms like Nevis?
Industries such as healthcare, energy, governance, education, and creative industries can benefit by adopting AI platforms focused on efficiency and workflow automation. Check related insights at Bloomberg Law
9. How can European startups learn from Nevis's approach?
European founders can focus on niche markets, leverage deep expertise, and use PR to amplify visibility, following lessons from Nevis’s strategy. Understand the lessons for startups at Tech Funding News
10. What is Nevis’s long-term vision?
The goal is to establish a future where financial advisors are fully supported by AI platforms capable of seamlessly executing operational tasks, enabling significant scalability. Read about Nevis’s forward-looking strategy at ICONIQ Capital
About the Author
Violetta Bonenkamp, also known as MeanCEO, is an experienced startup founder with an impressive educational background including an MBA and four other higher education degrees. She has over 20 years of work experience across multiple countries, including 5 years as a solopreneur and serial entrepreneur. Throughout her startup experience she has applied for multiple startup grants at the EU level, in the Netherlands and Malta, and her startups received quite a few of those. She’s been living, studying and working in many countries around the globe and her extensive multicultural experience has influenced her immensely.
Violetta Bonenkamp's expertise in CAD sector, IP protection and blockchain
Violetta Bonenkamp is recognized as a multidisciplinary expert with significant achievements in the CAD sector, intellectual property (IP) protection, and blockchain technology.
CAD Sector:
- Violetta is the CEO and co-founder of CADChain, a deep tech startup focused on developing IP management software specifically for CAD (Computer-Aided Design) data. CADChain addresses the lack of industry standards for CAD data protection and sharing, using innovative technology to secure and manage design data.
- She has led the company since its inception in 2018, overseeing R&D, PR, and business development, and driving the creation of products for platforms such as Autodesk Inventor, Blender, and SolidWorks.
- Her leadership has been instrumental in scaling CADChain from a small team to a significant player in the deeptech space, with a diverse, international team.
IP Protection:
- Violetta has built deep expertise in intellectual property, combining academic training with practical startup experience. She has taken specialized courses in IP from institutions like WIPO and the EU IPO.
- She is known for sharing actionable strategies for startup IP protection, leveraging both legal and technological approaches, and has published guides and content on this topic for the entrepreneurial community.
- Her work at CADChain directly addresses the need for robust IP protection in the engineering and design industries, integrating cybersecurity and compliance measures to safeguard digital assets.
Blockchain:
- Violetta’s entry into the blockchain sector began with the founding of CADChain, which uses blockchain as a core technology for securing and managing CAD data.
- She holds several certifications in blockchain and has participated in major hackathons and policy forums, such as the OECD Global Blockchain Policy Forum.
- Her expertise extends to applying blockchain for IP management, ensuring data integrity, traceability, and secure sharing in the CAD industry.
Violetta is a true multiple specialist who has built expertise in Linguistics, Education, Business Management, Blockchain, Entrepreneurship, Intellectual Property, Game Design, AI, SEO, Digital Marketing, cyber security and zero code automations. Her extensive educational journey includes a Master of Arts in Linguistics and Education, an Advanced Master in Linguistics from Belgium (2006-2007), an MBA from Blekinge Institute of Technology in Sweden (2006-2008), and an Erasmus Mundus joint program European Master of Higher Education from universities in Norway, Finland, and Portugal (2009).
She is the founder of Fe/male Switch, a startup game that encourages women to enter STEM fields, and also leads CADChain, and multiple other projects like the Directory of 1,000 Startup Cities with a proprietary MeanCEO Index that ranks cities for female entrepreneurs. Violetta created the "gamepreneurship" methodology, which forms the scientific basis of her startup game. She also builds a lot of SEO tools for startups. Her achievements include being named one of the top 100 women in Europe by EU Startups in 2022 and being nominated for Impact Person of the year at the Dutch Blockchain Week. She is an author with Sifted and a speaker at different Universities. Recently she published a book on Startup Idea Validation the right way: from zero to first customers and beyond, launched a Directory of 1,500+ websites for startups to list themselves in order to gain traction and build backlinks and is building MELA AI to help local restaurants in Malta get more visibility online.
For the past several years Violetta has been living between the Netherlands and Malta, while also regularly traveling to different destinations around the globe, usually due to her entrepreneurial activities. This has led her to start writing about different locations and amenities from the POV of an entrepreneur. Here’s her recent article about the best hotels in Italy to work from.
About the Publication
Fe/male Switch is an innovative startup platform designed to empower women entrepreneurs through an immersive, game-like experience. Founded in 2020 during the pandemic "without any funding and without any code," this non-profit initiative has evolved into a comprehensive educational tool for aspiring female entrepreneurs.The platform was co-founded by Violetta Shishkina-Bonenkamp, who serves as CEO and one of the lead authors of the Startup News branch.
Mission and Purpose
Fe/male Switch Foundation was created to address the gender gap in the tech and entrepreneurship space. The platform aims to skill-up future female tech leaders and empower them to create resilient and innovative tech startups through what they call "gamepreneurship". By putting players in a virtual startup village where they must survive and thrive, the startup game allows women to test their entrepreneurial abilities without financial risk.
Key Features
The platform offers a unique blend of news, resources,learning, networking, and practical application within a supportive, female-focused environment:
- Skill Lab: Micro-modules covering essential startup skills
- Virtual Startup Building: Create or join startups and tackle real-world challenges
- AI Co-founder (PlayPal): Guides users through the startup process
- SANDBOX: A testing environment for idea validation before launch
- Wellness Integration: Virtual activities to balance work and self-care
- Marketplace: Buy or sell expert sessions and tutorials
Impact and Growth
Since its inception, Fe/male Switch has shown impressive growth:
- 5,000+ female entrepreneurs in the community
- 100+ startup tools built
- 5,000+ pieces of articles and news written
- 1,000 unique business ideas for women created
Partnerships
Fe/male Switch has formed strategic partnerships to enhance its offerings. In January 2022, it teamed up with global website builder Tilda to provide free access to website building tools and mentorship services for Fe/male Switch participants.
Recognition
Fe/male Switch has received media attention for its innovative approach to closing the gender gap in tech entrepreneurship. The platform has been featured in various publications highlighting its unique "play to learn and earn" model.
