SEON, a Hungarian-American software provider focused on fraud prevention and AML compliance, has announced the close of its $80 million Series C round. The investment was led by Sixth Street Growth with participation from existing investors IVP, Creandum and Firebolt, and new investors including Hearst.
This round brings SEON’s total funding to $187 million and accelerates adoption in North America alongside further global expansion. SEON will advance its AI-powered product development and support strategic talent acquisition.
SEON’s fraud prevention solution analyses customer interactions daily for key fraud indicators. SEON’s platform enables customer onboarding, scalable compliance and advanced fraud prevention via its API.
"Our mission has always been clear: to enable companies to prevent fraud without impeding legitimate growth," said Tamas Kadar, Co-founder and CEO at SEON. "This investment allows us to continue serving the critical market need for fraud prevention and AML solutions that can scale at the speed of modern digital commerce. With global fraud losses exceeding billions annually, we are tackling a fundamental challenge facing businesses worldwide."
The startup's customers include Revolut, Plaid, Nubank, Afterpay, Spotify and Entain. As part of the investment, Michael Bauer, Managing Director, Sixth Street Growth, will join SEON's Board of Directors and Claire Zhang, Principal, Sixth Street Growth, will serve as a Board Observer.
"Fraud is growing at an unprecedented pace in the age of AI, and businesses need better defenses. SEON has built a command center for fraud prevention and AML compliance that empowers organisations to combat bad actors without impeding real customer transactions," said Bauer.
As fraud tactics become increasingly sophisticated and regulatory requirements intensify globally, there is a rising enterprise demand for unified solutions.
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