SEON, a company focused on fraud prevention and anti-money laundering (AML) compliance, has raised US$80 million in its Series C funding round.
The investment was led by Sixth Street Growth, with participation from existing investors IVP, Creandum and Firebolt, alongside new backers including Hearst.
This round brings SEON’s total funding to US$187 million and is expected to support expansion in North America and other global markets, as well as further product development and hiring.
Over the past year, SEON has reported strong growth among fraud and compliance technology providers.
The company analyses millions of customer interactions daily for thousands of clients, which include Revolut, Plaid, Nubank, Afterpay, Worldcoin and Entain.
Its platform aggregates over 900 real-time data signals, supporting digital onboarding, compliance and fraud prevention through a single API.
Tamas Kadar, Co-founder and Chief Executive of SEON, said:
“Our mission has always been clear, to enable companies to prevent fraud without impeding legitimate growth. This investment validates 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.”
The company stated that clients typically achieve reductions in fraudulent account creation of up to 90%, and report significant improvements in precision when stopping fraudulent transactions by combining fraud and AML controls.
Manual review times have also been reduced, allowing teams to focus on other business priorities.
Funding will be used to strengthen SEON’s AI capabilities for real-time fraud detection, continue international expansion in regions such as Asia-Pacific and Latin America, and invest in partnerships with financial institutions and cloud providers.
Michael Bauer, Managing Director at Sixth Street Growth, who will join SEON’s board as part of the investment, 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. Their proprietary data signals and end-to-end workflow platform provide the real-time insights needed to make smarter decisions with confidence.”
Featured image credit: Edited by Fintech News Singapore, based on image by jcomp via Freepik
