SEON, a fraud prevention platform, has secured $80 million in a Series C funding round led by Sixth Street Growth, with participation from existing investors Creandum, Firebolt, and IVP, and new investor Hearst. The company plans to utilize these funds to accelerate its global expansion efforts and enhance its platform’s technical capabilities.

This latest investment brings SEON’s total funding to $187 million since its inception in 2017 by CEO Tamas Kadar and COO Bence Jendruszak. Previous funding rounds include a €10 million Series A in 2021, led by Creandum, and a $94 million Series B in 2022, led by IVP. As part of the Series C round, Michael Bauer, managing director at Sixth Street Growth, will join SEON’s board of directors, and Claire Zhang, principal at Sixth Street Growth, will serve as a board observer.

Headquartered in Austin, Texas, SEON offers an API-based platform described as a “command centre for fraud prevention and AML compliance.” The platform incorporates advanced systems that detect and prevent fraudulent activities using over 900 proprietary data signals, along with tools for AML compliance and customer verification. SEON states its technology analyzes tens of millions of customer interactions daily for thousands of customers, including Plaid, Nubank, Afterpay, Entain, and UK digital bank Revolut.

The capital infusion will also support the further development of the platform’s technical capabilities, specifically focusing on AI integration and predictive models designed for real-time fraud detection. SEON intends to establish deeper collaborations to embed fraud prevention and AML as foundational architecture with financial institutions and cloud service providers. With global operations managed from offices in the UK, Hungary, and Singapore, the company aims to build momentum in APAC and scale its presence across Latin America, delivering solutions tailored to market-specific fraud patterns and localized regulatory demands.

According to Tamas Kadar, “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.”