SEON has announced the close of its $80 million Series C round of funding, which 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 $187m and accelerates already rapid adoption in North America alongside further global expansion. SEON will advance its AI-powered product development and support strategic talent acquisition.

SEON has demonstrated exceptional momentum over the past year, generating category-leading growth among fraud and compliance vendors.

SEON analyses tens of millions of customer interactions daily for thousands of customers, including many of the world’s leading digital brands like Revolut, Plaid, Nubank, Afterpay, Spotify and Entain.

SEON’s unified platform powers rapid customer onboarding, scalable compliance and advanced fraud prevention, all through a single API. This differentiated approach has firmly established SEON as the global market leader.

Customer Impact

          ●   SEON clients can integrate SEON in as little as a few days, not months, enabling their customers to quickly and safely stop fraud and financial crimes before they become a drag on growth.

          ●   Clients have achieved up to 90% reductions in fraudulent account creation as well as reporting more than 80% increase in precision when stopping fraudulent transactions by unifying fraud and AML controls.

          ●   Clients also report up to a 75% reduction in manual review time, allowing teams to focus on growth and experimentation rather than reactive investigation.

“Our mission has always been clear, to enable companies to prevent fraud without impeding legitimate growth,” said Tamas Kadar, Co-founder and CEO, 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.”

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