Private Equity Funding: Seon Secures $80 Million in Series C Investment
SEON Raises $80 Million in Series C Funding for Global Expansion and AI-Powered Product Development
SEON, a fraud prevention and Anti-Money Laundering (AML) platform, has announced that it has raised $80 million in Series C funding. This funding round was led by Sixth Street Growth, with participation from IVP, Creandum, Firebolt, and a new investor, Hearst.
Based in Austin and Budapest, SEON offers a single API for customer onboarding, compliance, and fraud prevention capabilities. The company's mission is to enable companies to prevent fraud without impeding legitimate growth. SEON's services are used by a diverse range of companies across various industries, including Revolut, Plaid, Nubank, Afterpay, Spotify, and Entain.
The funding will be used to advance SEON's AI-powered real-time detection capabilities and support the development of new AI-powered services. With this funding, SEON plans to accelerate expansion in Asia-Pacific and Latin America, focusing on these regions due to their growing importance in the global economy.
Tamas Kadar, co-founder and CEO of SEON, commented on the news, saying, "We are thrilled to have the support of such esteemed investors as we continue to scale our business and expand our presence globally. With this funding, we will be able to invest in our AI-powered product development and further our mission to help companies prevent fraud while promoting legitimate growth."
The total funding raised by SEON now stands at $187 million. The news release was issued by Tamas Kadar, co-founder and CEO of SEON.
With this latest funding round, SEON is well-positioned to continue its growth and make a significant impact in the fraud prevention and compliance space. The company's focus on AI-powered capabilities and global expansion is expected to drive innovation and improve the overall security of online transactions for businesses worldwide.
