Hungarian-founded SEON, a command center for fraud prevention and AML compliance, announced they had closed its $80 million (€67.5 million) Series C funding round, led by Sixth Street Growth with participation from existing investors IVP, Creandum, Firebolt, and new investor Hearst.
This latest round brings SEON’s total funding to $187 million (€157.7 million), fueling further global expansion and advancing real-time, AI-driven fraud prevention innovation.
“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 enables us to continue tackling a fundamental challenge that costs businesses worldwide billions annually.”
Rapid growth and market leadership
SEON was founded in 2017 by Bence Jendruszak and Tamas Kadar. The company analyzes tens of millions of customer interactions daily for thousands of clients, including major global brands such as Revolut, Plaid, Nubank, Afterpay, Spotify, and Entain.
SEON’s single-API platform aims to make customer onboarding faster, compliance easier, and fraud prevention stronger.
The company shared that their clients have reported dramatic improvements since adopting the platform. Many have seen up to a 90% reduction in fraudulent account creation, along with more than an 80% increase in accuracy when blocking fraudulent transactions. Customers also note up to a 75% decrease in manual review time, freeing teams to focus on growth and innovation rather than time-consuming fraud investigations.
Where the investment will go
SEON will expand its advanced AI and real-time detection capabilities, further enhancing predictive models that adapt quickly to evolving fraud tactics. Alongside technology development, the company is pursuing global expansion, deepening its presence in APAC and scaling across Latin America.
SEON will continue to improve its seamless integration, enhancing its library of more than 900 fraud signals and global AML compliance coverage, all accessible through a single API.
In addition, the company plans to forge strategic partnerships with financial institutions and cloud providers, embedding fraud prevention and AML compliance as foundational infrastructure for digital businesses worldwide.
Strategic investor support
As part of the investment, Michael Bauer, Managing Director at Sixth Street Growth, will join SEON’s Board of Directors, while Claire Zhang, Principal at Sixth Street Growth, will serve as Board Observer.
“Fraud is growing at an unprecedented pace in the age of AI, and SEON has built the command center to stop it,” said Bauer. “Their proprietary signals and workflow platform provide the real-time insights businesses need to act with confidence.”
