SEON, a London-based Anglo-Hungarian startup that powers online fraud prevention raised $94 million in Series B funding.
The round was led by Silicon Valley-based IVP, the round also includes existing investors Creandum and PortfoLion.
Angel investors including founders and senior executives from the very best product-led tech companies: Aiven, Coinbase, DataDog, DoorDash, Figma, G2, GitHub, Public, Slack, Supercell, UiPath, Veriff, and Wise.
The funding will be used to expand SEON’s presence in North America, LATAM, and APAC, build partnerships with leading e-commerce platforms, heighten product functionality, and integrate additional data sources to help customers better fight fraud.
SEON will appoint Michael Miao, Partner at IVP to its board.
Company: SEON Technologies Ltd.
Round: Series B
Funding Month: April 2022
Lead Investors: IVP
Additional Investors: Creandum and PortfoLion
Company Website: https://seon.io/
Software Category: Fraud Prevention
About the Company: SEON is the go-to fraud prevention solution for ambitious FinTech leaders, like Revolut, NuBank, Afterpay, Patreon, Sorare, and mollie. The company’s industry-leading solution uses AI and fully explainable machine learning to adapt across sectors. Since its formation, SEON has served over 5,000 merchants and reviewed over 1 billion transactions. In turn, this has helped the company to save its customers more than €50 million in potentially fraudulent transactions. The globally focused business operates offices in Austin (TX), Budapest, London, Jakarta, and Singapore.