Salv raises €1.5 million funding

Estonian startup Salv has announced closing a funding round of €1.5 million to expand its anti-money laundering pilot to other EU countries. The startup recently introduced its pilot program ‘AML Bridge’ in Estonia, in cooperation with four of Estonia’s largest banks: LHV, Luminor, SEB Estonia and Swedbank Estonia, and Estonian Financial Supervisory Authority, Financial Intelligence Unit, and Data Protection Inspectorate.

Salv was founded in 2019 by Taavi Tamkivi (CEO), Jeff McClelland (COO), and Sergei Rumjantsev (CTO). Salv began developing its core technology in 2018 with a team mostly consisting of former Skype and TransferWise employees.

So far, Salv has raised more than €3.2 million in venture capital investments. The investors include Fly Ventures, Passion Capital, Seedcamp, Superangel, N26 founder Maximilian Tayenthal, Skype co-founder Toivo Annus, LHV founder Rain Lõhmus, former CIO for Estonia Taavi Kotka, former Skype Estonia CEO Sten Tamkivi, former Twilio CTO Ott Kaukver, former LexisNexis CEO Andrew Prozes and many others.