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News

AML startup Salv to launch after USD 2 mln seed round

Wednesday 4 December 2019 08:47 CET | News

Salv, an anti-money laundering (AML) startup, has announced a USD 2 million seed round.

The round was led by Fly Ventures, along with Passion Capital and Seedcamp. Angel investors joining the round include Twilio CTO Ott Kaukver, N26 co-founder Maximilian Tayenthal and former CIO for Estonia Taavi Kotka.

Salv was founded by Taavi Tamkivi (CEO), Jeff McClelland (COO) and Sergei Rumjantsev (CTO). Taavi built the AML, Fraud, and Know Your Customer (KYC) teams at TransferWise and Skype. Jeff started his career in ING Bank before leading fraud and other analytics teams at Skype and setting up the analytics team at TransferWise. Sergei led the engineering team for KYC and Verificationat Transferwise.

The growing disconnect between the roughly EUR 84 billion spent per year by the European banking sector, and the slight 1-2% of global money-laundering detected, has led to building the startup, according to the official press release. Salv is currently available to banks and other financial institutions in Europe.

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Keywords: Salv, AML, KYC, money laundering, startup, funding, banking, fraud prevention, risk management
Categories: Fraud & Financial Crime
Companies:
Countries: Estonia
This article is part of category

Fraud & Financial Crime

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