- Companies
- SEON
Last SEON valuation
$500M
Series B · Apr 2022
Last SEON funding round
$80M
Series C · Sep 2025
Cumulative funding SEON raised
$187M
across 6 funding rounds
Key investors in SEON
Portfolion Capital Partners
Creandum
IVP
Hearst Ventures
Sixth Street
Firebolt Ventures
About SEON
SEON is a Budapest-headquartered fraud prevention platform serving over 1,500 companies including Revolut and Wise. Founded in 2017, it analyzes 900 real-time data signals like device intelligence and email validation to detect AML risks. SEON operates offices in Austin, London, and Singapore, processing millions of transactions daily. The platform integrates with payment gateways such as Stripe and supports KYC workflows for fintech expansions.
Founded
2017
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$500M (Apr 2022)
SEON Valuation
SEON is currently valued at $500M, based on its Series B in April 2022.
The $94M round was led by IVP, with participation from Creandum, Portfolion Capital Partners and Crew Capital.
SEON valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Apr 2022 | Series B | $500M |
SEON Funding History
SEON has raised a total of $187M across 6 funding rounds.
SEON's first fundraising round was a $100K pre-seed round in January 2017. The most recent completed round was a $80M Series C in September 2025.
SEON funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Sep 2025 | Series C | Sixth Street (lead); Firebolt Ventures; IVP; Creandum; Hearst Ventures | $80M | - | SEON, a fraud prevention and AML compliance platform headquartered in Austin, Texas and Budapest, Hungary, closed an $80 million Series C funding round on September 16, 2025, led by Sixth Street Growth with participation from IVP, Creandum, Firebolt Ventures, and new investor Hearst Ventures, bringing total funding to $187 million. The growth capital supports global expansion, particularly in North America, APAC, and Latin America, advancement of AI-powered product capabilities for real-time fraud detection and compliance, and strategic talent acquisition. SEON's unified platform analyzes tens of millions of customer interactions daily via a single API, serving thousands of customers including Revolut, Plaid, Nubank, Afterpay, Spotify, and Entain, enabling rapid onboarding, scalable compliance, and advanced fraud prevention. The company demonstrated exceptional momentum leading into the round, generating category-leading growth among fraud and compliance vendors, with clients reporting up to 90% reductions in fraudulent registrations, over 80% increases in preventing fraudulent transactions, and 75% reductions in manual review time. In 2025, SEON delivered over 80% ARR growth, added hundreds of new customers, and saw API usage grow over 250% from 2024, driven by expansion in financial services, retail, betting, and gaming sectors as organizations consolidated fraud and AML operations. Post-round developments included earning three AWS Competencies, expansion in Singapore for Asia-Pacific support, and recognition on CNBC’s World’s Top FinTech Companies list for the third year. Michael Bauer from Sixth Street Growth joined SEON’s board, with Claire Zhang as board observer. The investment positions SEON to address rising digital fraud threats with adaptive AI models tailored to regional patterns and regulations, solidifying its leadership across North America, EMEA, and emerging markets. |
| Apr 2022 | Series B | IVP (lead); Creandum; Portfolion Capital Partners; Crew Capital | $94M | $500M | SEON is a London-based Anglo-Hungarian startup specializing in AI-powered online fraud prevention, serving sectors like fintech, e-commerce, neo-banking, crypto, BNPL, and Web 3.0. Its platform uses explainable machine learning for real-time fraud detection, user verification, and integration with KYC/IDV processes, enabling rapid deployment and pay-as-you-go flexibility. By April 2022, SEON had served over 5,000 merchants, reviewed over 1 billion transactions, and saved customers more than €50 million in potential fraud losses, with offices in Austin, Budapest, London, Jakarta, and Singapore. On April 19, 2022, SEON raised $94 million in a Series B funding round led by IVP, with participation from Creandum and others, marking the largest Series B for a fraud prevention business and the most funded Hungarian-founded company at the time. The post-money valuation was $500 million. Funds were allocated to expand presence in North America, LATAM, and APAC, build e-commerce partnerships, enhance product functionality, and integrate more data sources. Leading up to the round, SEON demonstrated strong traction: in 2021, it more than tripled its annual recurring revenue, grew headcount 4x, and became the go-to solution for high-profile clients including Revolut, NuBank, Afterpay, Patreon, Sorare, and Mollie. It also launched an AI-based fraud detection app for Shopify. IVP partner Michael Miao joined the board post-investment. The company continued scaling post-Series B, opening new offices and maintaining growth momentum, as evidenced by later rounds like a $80 million Series C in September 2025 led by Sixth Street Growth with IVP participation, bringing total funding to $187 million. |
| Mar 2021 | Series A | Creandum (lead); Peter O' Higgins; Leo Nilsson; Eamon Jubbawy; Valentin Stalf; Laurence Krieger; Charles Delingpole; Discovery Ventures; Maximilian Tayenthal; Portfolion Capital Partners | $12M | - | SEON is a fraud prevention platform that helps online businesses combat fraud such as fake accounts, operating in verticals like neobanks, esports, iGaming, Forex, and crypto trading. The company secured a €10 million (approximately $12 million) Series A funding round in March 2021, marking Hungary's largest Series A at the time. Creandum led the round, with participation from PortfoLion (part of OTP Bank) and angel investors including founders of N26 (Maximilian Tayenthal, Valentin Stalf), SumUp, Tide (Laurence Krieger), Onfido (Eamon Jubbawy), ComplyAdvantage (Charlie Delingpole), ex-CFO of Revolut (Peter O'Higgins), and ex-CPO of iZettle (Leo Nilsson). The funds aimed to accelerate product development, expand the customer base, grow teams in Budapest and London, and pursue global expansion. SEON's CEO Tamas Kadar and COO Bence Jendruszak highlighted the round's role in scaling their product-led growth to eradicate online fraud, while Creandum's Simon Schmincke praised SEON's effective, affordable, and ROI-proven anti-fraud solution amid rising cybercrime threats. |
| Dec 2019 | Seed | Portfolion Capital Partners (lead) | $1M | - | - |
| Feb 2018 | Seed | Fiedler Capital; Portfolion Capital Partners | $600K | - | - |
| Jan 2017 | Pre-seed | - | $100K | - | - |
Who has invested in SEON?
16 investors have backed SEON across its funding rounds, including Portfolion Capital Partners, Creandum, IVP, Hearst Ventures, Sixth Street and Firebolt Ventures.
Lead investors include Sixth Street, IVP, Creandum and Portfolion Capital Partners.
SEON Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Feb 2018 | ||
| 3 | Lead | Mar 2021 | ||
| 2 | Lead | Apr 2022 | ||
| 1 | Participant | Sep 2025 | ||
| 1 | Participant | Mar 2021 | ||
| 1 | Participant | Mar 2021 | ||
| 1 | Participant | Mar 2021 | ||
| 1 | Participant | Mar 2021 | ||
| 1 | Participant | Sep 2025 | ||
| 1 | Lead | Sep 2025 | ||
| 1 | Participant | Mar 2021 | ||
| 1 | Participant | Mar 2021 | ||
| 1 | Participant | Mar 2021 | ||
This data is available for Pro users. Sign up to see all 16 SEON investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by SEON
SEON has acquired 1 company to date.
Last acquisition by SEON was on February 3rd 2023. SEON acquired Complytron Kft. for $3M.
Latest Acquisitions by SEON
| Description | Budapest-based Complytron Kft. develops AML and KYC screening software featuring sanctions lists monitoring, PEP verification, and AI-driven network analysis for high-risk entity detection. The tools assess online connections using machine learning to score probabilities of illicit networks. |
| HQ Country | |
| HQ City | Budapest |
| Deal Date | 3 Feb 2023 |
| Valuation | $3M |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all SEON acquisitions and their M&A valuation multiples. Start Free Trial | |
SEON Competitors
SEON competitors include listed companies like Beijing Hanyi Innovation and Intelligo Technology, and private ones like Noma Security, Delve, AppliedAI and /dev/agents.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $400M | - | ||
| Private | - | - | $300M | - | ||
| Private | - | - | $355M | - | ||
| Private | - | - | $500M | - | ||
| Publicly listed | $28M | $5M | $493M | 13.9x | ||
| Publicly listed | $50M | $20M | $522M | 8.4x |
SEON Public Comps
SEON is still privately-owned, but its public comps include Beijing Hanyi Innovation, Intelligo Technology, Yidu Tech, ExaWizards, Winner Technology, Baida Group Co, Ropeok Technology Group, Hanwang Technology Co, Unisound Ai Technology and DSC Holdings.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $28M | $5M | 15.6x | 13.9x | 89.9x | 50.9x | |||
| $50M | $20M | 8.4x | 8.4x | 20.8x | - | |||
| $122M | ($4M) | 1.4x | 1.2x | (45.0x) | 7.7x | |||
| $77M | $13M | 6.6x | 5.7x | 39.3x | - | |||
| $46M | ($7M) | 9.0x | - | (60.9x) | - | |||
| $31M | $9M | 13.6x | - | 45.2x | - | |||
| $23M | ($28M) | 18.6x | - | (15.2x) | - | |||
| $282M | ($14M) | 2.2x | - | (44.4x) | - | |||
This data is available for Pro users. Sign up to see all SEON competitors and their valuation data. Start Free Trial | ||||||||
Common questions about SEON
| When was SEON founded? | SEON was founded in 2017. |
| Where is SEON headquartered? | SEON is headquartered in Austin, TX, United States. |
| Is SEON publicly listed? | No, SEON is a private, VC-backed company. |
| What is SEON's valuation? | SEON was last valued at $500M in its Series B in April 2022. |
| How much funding has SEON raised? | SEON has raised $187M across 6 funding rounds. |
| What was SEON's last funding round? | SEON's last funding round was a $80M Series C in September 2025, led by Sixth Street. |
| Who are SEON's investors? | SEON's investors include Portfolion Capital Partners, Creandum, IVP, Firebolt Ventures, Peter O' Higgins, Leo Nilsson, Eamon Jubbawy, Valentin Stalf, Hearst Ventures, Sixth Street and 6 others. |
| Which companies are comparable to SEON? | Companies comparable to SEON include Noma Security, Delve, AppliedAI, /dev/agents, Beijing Hanyi Innovation and Intelligo Technology. |
| How many companies has SEON acquired? | SEON has acquired 1 company, including Complytron Kft.. |
| What was the largest acquisition by SEON? | The $3M acquisition of Complytron Kft. in February 2023 is the largest acquisition SEON has made to date. |
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