Salv, a regtech startup startup founded by a gaggle of former Wise and Skype staffers, has raised €4 million in a seed round extension led by ffVC and joined by G+D Ventures.
Salv Bridge is a real-time collaborative crime-fighting platform that uses the collective power of its network to minimise non-compliance and financial crime.
The GDPR-compliant platform enables collaborative investigations between financial institutions by opening a direct line of communication - allowing them to exchange and enrich data on potential threats.
This, says Salv, helps network members solve fraud cases in minutes, not days. So far, FS firms on the network have prevented between €6 million and €7 million from reaching criminal-controlled accounts.
Taavi Tamkivi, CEO, Salv, says: "The funds allow us to add further functionality to our modular AML toolset and expand to new markets, helping more companies greatly improve their crime-fighting measures and thereby protect their end-customers."