Fraud prevention and AML compliance specialist Seon has raised $80 million in a Series C funding round led by Sixth Street Growth.
IVP, Creandum, Firebolt, and Hearst also participated, bringing Seon’s total funding to $187 million. The Anglo-Hungarian firm utilizes internet data to analyze customers’ digital footprints, helping to identify fake accounts and prevent fraudulent transactions. Seon processes tens of millions of customer interactions daily for notable clients, including Revolut, Plaid, Nubank, and Afterpay.
The new funding will be directed towards accelerating Seon’s adoption in North America, expanding globally, advancing AI-powered product development, and making key hires.
“This investment allows us to continue addressing the critical market need for scalable fraud prevention and AML solutions. With global fraud losses exceeding billions annually, we are tackling a fundamental challenge for businesses worldwide,” says Tamas Kadar, CEO of Seon.