2 years ago

Salv Raises €3.9 Million to Fight Financial Fraud in the UK

  • Salv, an Estonian RegTech firm specializing in combating financial crime, has secured €3.9 million in new funding

  • The company has raised a total of €7.9 million this year and €12.1 million overall

  • The funding round, led by Passion Capital, and includes contributions from G+D Ventures, ff Venture Capital, and other undisclosed investors

  • This funding will help Salv double its revenue in 2023 compared to the previous year

  • The article highlights the growing problem of financial crime in the UK, and how companies like Salv are working to address it.

      • ProblemTechnology Infrastructure

      "Financial fraud is a massive problem in the UK, costing over £100 billion per year. Criminals are using increasingly sophisticated tactics to steal money from individuals and businesses. It's especially bad for small businesses, who often can't recover financially from fraud."

      Solution

      "Salv is a software company that helps banks and other financial institutions fight financial crime. They offer tools that help to identify, prevent, and stop fraud, money laundering, and terrorist financing. Salv's software helps banks know who their customers are, monitor their transactions in real-time, and score their risk. They have a platform called Bridge which helps different financial institutions share information securely and collaborate on fighting fraud."

      Covered on