SEON has raised US$80 million in its Series C funding round, led by Sixth Street Growth with participation from existing backers IVP, Creandum and Firebolt, alongside new investor Hearst. The latest round brings SEON’s total funding to US$187 million and will be used to expand its fraud prevention and anti-money laundering (AML) platform globally while advancing its AI-driven product development and hiring strategy.
The company has experienced strong growth in the past year, cementing its position as a leading vendor in fraud prevention and compliance. SEON analyses tens of millions of customer interactions daily for thousands of clients, which include major digital brands such as Revolut, Plaid, Nubank, Afterpay, Spotify and Entain. Its unified platform allows organisations to streamline customer onboarding, strengthen compliance, and prevent fraud using a single API.
Strong results for clients
SEON reports that customers have been able to integrate its solutions in days rather than months, enabling them to detect and stop fraudulent activity quickly. Companies using the platform have achieved up to 90% reductions in fraudulent account creation and more than 80% improvement in transaction monitoring accuracy by combining fraud and AML controls. Clients have also cut manual review times by as much as 75%, freeing teams to focus on growth and 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 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.”
Global growth plans
SEON plans to use the funding to enhance its predictive AI models for real-time fraud detection, expand across Asia-Pacific and Latin America, and strengthen partnerships with financial institutions and cloud providers. The company already holds a strong market presence in North America and EMEA and aims to tailor its solutions to regional fraud patterns and regulatory demands.
Michael Bauer, Managing Director at Sixth Street Growth, will join SEON’s board as part of the investment. “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. Additionally, Claire Zhang, Principal at Sixth Street Growth, will serve as a Board Observer.
Other investors also praised SEON’s progress. Karthik Ramakrishnan, Partner at IVP, highlighted the company’s customer-first approach, noting that its results go beyond metrics to deliver “transformational business outcomes.” Simon Schmincke, General Partner at Creandum, added that SEON’s growth from a startup to global leader has been “remarkable” and reaffirmed his firm’s support.
Headquartered across Austin, London, Budapest and Singapore, SEON continues to expand its role as a global fraud prevention hub. With digital fraud expected to rise sharply worldwide, the company sees growing demand for unified solutions that help enterprises stay compliant and secure while supporting growth.
