SEON secures £77.8m Series B funding from IVP to expand internationally and enhance product capabilities
IVP led the Series B round to support international growth and product development.
SEON is an Anglo-Hungarian startup providing online fraud prevention technology for digital businesses. The company delivers real-time identity verification and data enrichment tools to help clients combat financial crime.
SEON has secured £77.8m in Series B funding led by IVP, with participation from Creandum, PortfoLion, and various angel investors. The capital will be deployed to accelerate international expansion in North America, LATAM, and APAC, forge partnerships with major e-commerce platforms, and enhance product functionality.
The financing follows a period of rapid growth for the firm, which tripled its annual recurring revenue and quadrupled its headcount over the previous year. SEON provides an API-first fraud prevention platform that analyses digital footprints to help businesses block malicious transactions in real time.
From the founder
"SEON is bringing something different to the fraud prevention market by offering an accessible and flexible solution, which delivers instant results. Once discovered, our solution can be trialed by potential customers in less than 30 seconds and up and running in less than a day,"
Tamas Kadar
CEO and Co-founder at SEON
Investor perspective
"Identity is one of the most important and biggest problems on the Internet. This product-led team is making a remarkable dent in fraud prevention by making it easy for every business to adopt its data-driven solution. As fraud explodes at an exponential rate, IVP is honored to help guide this talented group as they work to expedite the fight against online fraud,"
Michael Miao
Partner, IVP
Use of funds
- 01Expand into international markets
- 02Continue product development
