Salv raises $2 million in a round led by Fly Ventures, along with Passion Capital and Seedcamp.

Salv, a Talinn, Estonia-based startup developing an AML (anti-money laundering) platform, announced that it raised a $2 million funding round.

The money was raised from European investors led by the German Fly VC and included contribution from Passion Capital and Seedcamp and angel investors Ott Kaukver, Maximilian Tayenthal, and Taavi Kotka.

Salv, founded in 2019 by CEO Taavi Tamkivi, Sten Tamkivi, Jeff McClelland and Sergei Rumjantsev, developed a software platform that helps compliance specialists reduce time spent on false-positive alerts, innocent customers flagged by the system, and also reduces the time needed from engineering support. The tool is in use by banks and other financial institutions in Europe, including LHV, the Estonian financial group.