Financial Crime World

Estonia’s Financial Crime Prevention: What You Need to Know About Salv’s €4 Million Raise

Introduction

In a significant move to combat the growing threat of financial crime, Estonian RegTech scale-up Salv has secured €4 million in a seed extension round. This funding will support the company in expanding its services and international presence, with a specific focus on Poland.

The Problem: Financial Crime

Financial crime is a major concern globally, with only 1% of crimes currently detected worldwide. The digitalisation of the financial industry has resulted in an avalanche of financial crime, and the numbers are only projected to grow.

Salv’s Solution

Salv was founded by former Wise and Skype employees who leverage their collective power to reduce non-compliance and financial crime. The company’s mission is to equip financial institutions with tools to fight financial crime more effectively. Salv’s collaborative crime-fighting network has already prevented €6-7 million from reaching criminal-controlled accounts by resolving fraud cases significantly faster, in minutes instead of days.

Salv Bridge: A Proven Solution

Salv’s modular AML toolset, known as Salv Bridge, is proven to be effective against money laundering, sanctions, and fraud. The platform has already been adopted by 21 financial institutions in Europe, who have collectively solved almost 7,000 investigations.

The New Funding

The €4 million seed extension round was led by ffVC, with Giesecke+Devrient Ventures and undisclosed existing investors also participating. Salv aims to add further functionality to its modular AML toolset and expand to new markets, helping more companies greatly improve their crime-fighting measures and thereby protect their end-customers.

Key Takeaways

  • Salv has secured €4 million in a seed extension round to support the expansion of its services and international presence.
  • The company’s collaborative crime-fighting network has already prevented €6-7 million from reaching criminal-controlled accounts.
  • Salv Bridge, the company’s modular AML toolset, is proven to be effective against money laundering, sanctions, and fraud.
  • The new funding will support the addition of further functionality to the platform and expansion into new markets.