This will fuel the European and UK expansion of its real-time collaborative crime-fighting platform

In Brief:

Salv, the regtech startup founded by former Wise and Skype employees, closes a €4m seed round extension led by ffVC, with German G+D Ventures and existing investors also participating

The funds will allow Salv to further develop its modular RegTech technology and support geographical expansion to new territories, including Poland

The world’s first fully GDPR-compliant platform, Salv Bridge, enables collaborative investigations between financial institutions by opening a direct line of communication - allowing them to exchange and enrich data on potential threats

What does this mean?

Taavi Tamkivi, CEO and co-founder of Salv, commented on the new market entry: “The digitalisation of the financial industry has resulted in an avalanche of financial crime, and the numbers are only projected to grow. our collaborative-crime fighting platform, Salv Bridge, is proven to be effective against money laundering, sanctions and fraud. 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.”