Fraud prevention leader SEON secures $80M led by Sixth Street Growth to accelerate global expansion and real-time compliance innovation.
SEON, an AI-driven fraud prevention and AML compliance platform, has raised $80 million in Series C funding. The round was led by Sixth Street Growth with participation from existing investors IVP, Creandum and Firebolt, along with new investor Hearst. This latest raise brings SEON’s total funding to $187 million.
Headquartered in Austin and Budapest, SEON analyzes tens of millions of interactions daily for thousands of customers, including Revolut, Plaid, Nubank, Afterpay, Spotify and Entain. Its unified API powers customer onboarding, scalable compliance and advanced fraud prevention.
“Our mission has always been clear, to enable companies to prevent fraud without impeding legitimate growth. 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.” ~ Tamas Kadar, co-founder and CEO.
SEON says clients integrating its platform in days rather than months have reported up to 90% reductions in fraudulent account creation, more than 80% improvements in fraud detection precision, and a 75% decrease in manual review time.
The company plans to use the new capital to expand further in North America, EMEA, Latin America and APAC, while investing in predictive AI models and broader compliance coverage. The funding will also accelerate strategic partnerships with financial institutions and cloud providers.
“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” ~ Michael Bauer, managing director at Sixth Street Growth, who joins SEON’s board.
SEON’s strong momentum has impressed backers. “90% reductions in fraudulent registrations and over an 80% increase in preventing fraudulent transactions aren’t just metrics, they’re transformational business results” ~ Karthik Ramakrishnan, partner at IVP.