Fraud prevention and anti-money-laundering (AML) compliance company SEON Technologies Kft. secured $80 million in Series C funding. Sixth Street Growth led the round. Consequently, this investment brings SEON's total capital raised to $187 million.
SEON, founded in 2017 by Tamas Kadar and Bence Jendruszák, developed its platform after encountering fraud challenges while operating a cryptocurrency exchange. Existing solutions proved too slow or expensive. Therefore, the company built a unified platform to detect and block fraud effectively.
The platform offers device fingerprinting, digital footprint analysis, and behavioral biometrics. Furthermore, it includes transaction monitoring and sanction customer screening. SEON differentiates itself through rapid deployment, integrating in minutes or days via an API-first design. This agility reduces friction for businesses.
SEON emphasizes precision, utilizing over 900 real-time data signals and machine learning models. Consequently, this approach significantly lowers false positives.
Advancing AI Fraud Prevention
The company serves high-risk digital sectors including fintech, e-commerce, and gaming. Notable customers include Revolut, Plaid, and Afterpay. Moreover, the platform integrates fraud prevention with regulatory compliance, streamlining AML and risk management workflows.
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Institutional Venture Partners LP, Creandum AB, Firebolt Analysts Ltd., and Hearst Communications Ltd. also participated in the Series C round. Michael Bauer, managing director of Sixth Street Growth, joins SEON's board. This funding will scale SEON's AI-driven compliance platform.
