Silicon Canals
No Result
View All Result
  • Home
  • News
    • News
    • Startups
    • Scaleups
    • AI and chatbots
    • FinTech
    • Business Wire
    • Travel & Mobility
    • Coin Canals
    • Software & SaaS
    • Event News
    • Health & Medtech
    • (Crowd)funding
    • Blockchain
    • Internet of things
    • Hardware
    • Accelerators
    • E-commerce
    • Cybersecurity
    • Gaming & Virtual Reality
    • Drones
  • Exclusive content
    • Partner content
    • Amsterdam
    • Community partners
    • Remote: Tech Talent Report
    • Guest Contributions
  • Find a job
  • Tech Events
    • Technology Events
    • Event News
    • Submit event
  • Contact
    • Contact us
    • Sign up for our newsletter!
    • Contribute your content
    • Team
    • About us
  • Partner with us
  • Home
  • News
    • News
    • Startups
    • Scaleups
    • AI and chatbots
    • FinTech
    • Business Wire
    • Travel & Mobility
    • Coin Canals
    • Software & SaaS
    • Event News
    • Health & Medtech
    • (Crowd)funding
    • Blockchain
    • Internet of things
    • Hardware
    • Accelerators
    • E-commerce
    • Cybersecurity
    • Gaming & Virtual Reality
    • Drones
  • Exclusive content
    • Partner content
    • Amsterdam
    • Community partners
    • Remote: Tech Talent Report
    • Guest Contributions
  • Find a job
  • Tech Events
    • Technology Events
    • Event News
    • Submit event
  • Contact
    • Contact us
    • Sign up for our newsletter!
    • Contribute your content
    • Team
    • About us
  • Partner with us
No Result
View All Result
Silicon Canals
No Result
View All Result

Former TransferWise employees raise €1.8M to fight anti-money laundering

Editorial team by Editorial team
December 4, 2019
in News, (Crowd)funding, FinTech, Startups
Former TransferWise employees raise €1.8M to fight anti-money laundering
5
SHARES
LinkedInTwitterWhatsAppFacebook
Read this article in:

Based out of Tallinn, Salv is revolutionising the financial compliance sector with software that stops criminals in their tracks.

In the latest development, the company has raised $2 million (approx €1.8 million) in seed funding led by Fly Ventures, alongside Passion Capital and Seedcamp. Additionally, Angel investors, including Maximilian Tayenthal (founder of N26), Ott Kaukver (former Twilio CTO), and Taavi Kotka (former CIO for Estonia), also participated. 

Crime-fighting software platform!

According to the United Nations Office on Drugs and Crime, somewhere between $1 trillion and $2 trillion is laundered annually. Founded in 2018, Salv has built a software platform that helps banks find and stop financial crime.

Makes banks ten times effective

As per the company claims its technology makes European banks more effective in combating money laundering. Salv CEO Taavi Tamkivi built the AML, fraud, and KYC teams at TransferWise and Skype. Co-founders COO Jeff McClelland and CTO Sergei Rumjantsev are also TransferWise veterans.

Tamkivi said:

We built Salv to make financial institutions smarter at detecting crime, without damaging the experience of real customers.

Focused on fighting crime!

The company is aiming to create a transformation similar to what happened in virus scanning. According to Tamkivi, the main difference between the startup’s AML software and other solution is its focus on fighting crime.

Estonian bank LHV!

On top of that, Tamkivi claims that the software is quick, user-friendly, and easily integrated into the existing IT environment. Notably, Estonian bank LHV is Salv’s first customer.

Tamkivi, added:

They offer a full suite of banking products across Estonia. They’re also active in London, in particular, supporting fintechs. We have another couple of customers in the Lithuanian fintech scene. One of those is DeVere e-Money.

Monthly subscription

Salv’s solution will be suitable for Tier 2 and 3 banks, also the regulated fintechs and challenger banks. Talking about the business model, Salv charges based on monthly subscription considering the number of customers on the bank or fintech platform.

Main image: Salv

Stay tuned to Silicon Canals for more European technology news.

Tags: FinTechfunding
ShareTweetSendShare5

Partner content | Partner with us

Meet Farhad Andalibi, a LinkedIn alumnus helping Techleap’s DLiT Community to advance DEI efforts in the Dutch tech ecosystem

Amsterdam’s Transferz joins forces with Holiday Extras to transform global ground transportation

ZVVT ignites tech movement for diversity in Amsterdam South-East district

Germany’s Sastrify expands market reach; acquires Amsterdam-based Pengu and raises fresh funds

Amsterdam-based startups that are fundraising right now

Silicon Canals | Find a job

Top news | from Amsterdam

Check out the Amsterdam startups that raised funding in November; 5 of them are hiring

Dutch-Swiss startup Cradle raises €21.9M for pioneering Generative AI in protein design

Amsterdam’s LAYCO raises €300K to make healthcare more sustainable and accessible

These startups are heading to Slush 2023 as part of the Amsterdam delegation

Founders on Bootstrapping: Insight’s Farzan Najmeddin on when to bootstrap, future of work, and funding

  • About Silicon Canals
  • Partner with Silicon Canals
  • Impressum
  • Contact us
  • Sign up for our newsletter!
  • Find a job
  • Disclaimer
  • Privacy Policy
  • Cookie Policy (UK)
  • Cookie Policy (EU)
  • Terms & Conditions Silicon Canals

Silicon Canals © 2014-2023 | Design: Bright Idiots. Images: Depositphotos

No Result
View All Result
  • Home
  • News
    • News
    • Startups
    • Scaleups
    • AI and chatbots
    • FinTech
    • Business Wire
    • Travel & Mobility
    • Coin Canals
    • Software & SaaS
    • Event News
    • Health & Medtech
    • (Crowd)funding
    • Blockchain
    • Internet of things
    • Hardware
    • Accelerators
    • E-commerce
    • Cybersecurity
    • Gaming & Virtual Reality
    • Drones
  • Exclusive content
    • Partner content
    • Amsterdam
    • Community partners
    • Remote: Tech Talent Report
    • Guest Contributions
  • Find a job
  • Tech Events
    • Technology Events
    • Event News
    • Submit event
  • Contact
    • Contact us
    • Sign up for our newsletter!
    • Contribute your content
    • Team
    • About us
  • Partner with us

Silicon Canals © 2014-2023 | Design: Bright Idiots. Images: Depositphotos

X
X