Dice the onion, carrots, and celery. Peel and cube the sweet potatoes.
In a large pot over medium heat, heat the olive oil. Add the onion, celery, and carrots and cook for 3-4 minutes until translucent.
Add the sweet potatoes and toss to coat. Season with paprika, garlic powder, salt, and pepper. Cook for 2-3 minutes.
Add the thyme and bay leaves. Add the vegetable broth and water, and bring to a boil.
Reduce heat to medium-low and simmer for 15-20 minutes, or until the sweet potatoes are tender.
Remove from heat and remove the thyme stems and bay leaves. Use an immersion blender to puree until smooth. (If you don’t have an immersion blender, carefully blend the soup in batches in a regular blender.)
Stir in the heavy cream. Serve topped with toasted nuts or seeds, if desired.