SEON, the command center for fraud prevention and AML compliance, today announced the close of its $80 million Series C round of funding. 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 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 analyzes 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.
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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 an 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.
- Advanced AI and Real-Time Detection: SEON’s platform adapts as fast as the threat landscape evolves, with predictive models that spot emerging fraud patterns before they can wreak havoc at scale.
- Global Expansion: Already the market leader across North America and EMEA, SEON will continue building momentum in APAC, and start to scale its strong presence across Latin America, tailoring solutions to market-specific fraud patterns and localized regulatory demands.
- Seamless Integration: Funding accelerates SEON’s unified fraud and compliance solution, delivering actionable insights from over 900 fraud signals and global coverage for anti-money laundering compliance, all of which can be rapidly deployed through a single API.
- Strategic Partnerships: SEON will focus on deeper collaborations to embed fraud prevention and AML as foundational architecture with leading financial institutions and cloud service providers.
Sixth Street’s extensive portfolio of innovative technology companies positions it as an ideal strategic partner as SEON expands its leadership position at the convergence of fraud prevention and regulatory compliance. 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 the command center for fraud prevention and AML compliance that empowers organizations to combat bad actors without impeding real customer transactions,” said Bauer. “Their proprietary data signals and end-to-end workflow platform provide the real-time insights needed to make smarter decisions with confidence. Tamas, Bence and the team have built an important and mission critical solution for the challenges that online businesses face today, and we’re excited to support their continued global expansion.”
As fraud tactics become increasingly sophisticated and regulatory requirements intensify globally, SEON’s strategy meets rising enterprise demand for unified solutions. Its comprehensive API-driven platform equips organizations to streamline workflows and stay ahead of evolving threats, which has fueled strong market adoption and ongoing customer success.
“SEON is the world’s fastest-growing fraud prevention company and has greatly exceeded growth targets while expanding their platform capabilities,” said Karthik Ramakrishnan, Partner, IVP. “What sets them apart is their obsession with customer outcomes; 90% reductions in fraudulent registrations and over an 80% increase in preventing fraudulent transactions aren’t just metrics, they’re transformational business results.”
“As an early SEON backer, we continue to be impressed by their execution velocity and market leadership. The team has built something rare, a platform that makes fraud prevention faster and more effective, not slower,” said Simon Schmincke, General Partner, Creandum. “Watching SEON scale from a promising startup to global market leader has been remarkable. We’re very excited to continue our support through their next phase of growth.”
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