Estonian regtech startup Salv raises EUR 4mn to combat financial crimes

Estonian regtech firm Salv has secured EUR 4 million in a seed funding round extension to combat financial crimes. The funding round was led by New York-based venture capital firm ffVC and participated by German G+D Ventures and existing investors. To date, Salv has raised EUR 7 million in venture capital investments, reports the Estonian Investment Agency (EIA).

Financial crime, particularly fraud, has seen a significant increase in recent years due to the explosive growth of the fintech industry. Financial institutions often operate in silos and attempt to solve the problem independently, leading to a shortened timeline for fraud recall. Salv aims to combat financial crimes with its collaborative platform, Salv Bridge.