Fraud prevention company SEON has raised $80 million in a Series C round led by Sixth Street Growth, with participation from IVP, Creandum, Firebolt, and new investor Hearst. The fresh funding lifts SEON’s total capital to $187 million, including the $94 million Series B funding raised back in 2022.
The Series C funding will drive SEON’s international growth, with a focus on the Asia-Pacific and Latin American markets, regions where digital transactions are increasing rapidly and fraud risks are growing alongside. The company plans to refine its predictive models to address regional nuances, tailoring its solutions to both fraud patterns and local regulations.
With a strong presence already established in North America and EMEA, SEON is now building deeper partnerships with financial institutions and cloud providers. This strategy reflects its ambition to become not only a fraud prevention tool but a global compliance and security hub for enterprises of all sizes.
As part of this new chapter, Michael Bauer, Managing Director at Sixth Street Growth, will join SEON’s board, bringing additional expertise to guide expansion. Also, Claire Zhang, Principal at Sixth Street Growth, will serve as a Board Observer.
Delivering measurable impact for clients
SEON’s platform has quickly become a trusted solution for digital-first businesses such as Revolut, Plaid, Nubank, Afterpay, Spotify, and Entain. By analysing tens of millions of customer interactions daily, SEON enables companies to detect fraud in real-time while ensuring compliance through a single API.
This streamlined approach has delivered impressive results: businesses report up to 90% fewer fraudulent account creations, an 80% boost in transaction monitoring accuracy, and a 75% reduction in manual reviews. These gains not only cut operational costs but also free up teams to focus on innovation and customer experience.
A key strength is that unlike traditional systems that take months to deploy, SEON’s tools can be implemented in just days. This agility ensures clients can respond immediately to evolving fraud tactics, giving them a competitive edge in industries where speed and trust are paramount.
From crypto to fraud detection
The Founding Duo was always interested in tech since their early days. While studying at the Corvinus University of Budapest, Bence Jendruszak and Tamas Kadar were interested in cryptocurrencies. They conceived plans for a fiat exchange platform for Central and Eastern Europe, later proceeding to launch.
Headquartered across Austin, London, Budapest, and Singapore, SEON is firmly establishing itself as a leader in fraud prevention. With cybercrime and financial fraud projected to accelerate worldwide, the demand for comprehensive and unified solutions is only set to grow.
By blending compliance, security, and operational efficiency, SEON is well-positioned to capture this market opportunity and support businesses navigating an increasingly complex digital landscape.
“Our mission has always been clear, to enable companies to prevent fraud without impeding legitimate growth,” said Tamas Kadar, co-founder and CEO of 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.”
Michael Bauer, Managing Director at Sixth Street Growth, said:
“Fraud is growing at an unprecedented pace in the age of AI, and businesses need better defences. SEON has built the command centre for fraud prevention and AML compliance that empowers organisations to combat bad actors without impeding real customer transactions,” he said.
