SEON receives USD 94 mln in funding to fight online fraud

Tuesday 19 April 2022 12:19 CET | News

UK and Hungary-based startup that powers online fraud prevention, SEON, has raised USD 94 million in a Series B funding round led by American late stage venture capital company IVP.

Other participants include angel investors and global renowned companies like Aiven, Coinbase, DataDog, DoorDash, Figma, Slack, etc. The funding comes a year after its Series A investment round and will be used to expand SEON’s presence in LATAM, North America, and APAC, as well as to establish new partnerships with ecommerce platforms, and integrate additional data sources to help customers better fight online fraud. 

SEON’s take on identity fraud is a flexible solution with instant results. Once the company identifies a potential threat, the solution can be trailed by customers in less than 30 seconds and implemented in one day. The fintech is focused on APIs and its Data Enrichment module uses available data to establish a client’s individual digital footprint based on email address, IP address, phone number, and real-time location, while complying to the GDPR rules enforced in the EU. 

SEON is the go-to fraud prevention solution for Patreon, Afterpay, Revolut, NuBank, and others, and its significant growth in 2021 allowed it to open new offices abroad and enhance its anti-fraud technology. 

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Keywords: fraud management, fraud detection, identity fraud, digital identity, API, funding, online fraud, GDPR
Categories: Fraud & Financial Crime
Companies: AfterPay, Revolut, SEON - Fraud Prevention
Countries: World
This article is part of category

Fraud & Financial Crime





SEON - Fraud Prevention

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