Company: SEON
Founders: Tamas Kadar and Bence Jendruszak
Website: https://seon.io/
About SEON
SEON is using Artificial Intelligence (AI) to redefine what it means to fight online fraud and financial crime.
SEON delivers a simplified, modern way to fight financial crime by detecting and stopping fraud earlier and quicker in the customer journey. Unlike other systems, SEON is fast-to-deploy, highly cost-effective and can often be onboarded and up and running in a matter of minutes, not months.
By enabling real-time, pre-fraud checks and checking 50+ digital and social platforms for digital footprint, SEON can help businesses eliminate fraud from their platforms. The company’s innovative system combines social signals with deep digital footprinting, leveraging fully explainable machine learning to identify fraud threats before they’re able to act.
THE GO-TO FRAUD PREVENTION SOLUTION:
Since its launch in 2017, SEON has become the go-to fraud prevention solution for some of the most ambitious companies including Revolut, NuBank and Patreon, providing its expertise to over 5,000 top brands and fintechs, preventing over €160 billion of fraudulent transactions in the process.
This growth has seen the company covered by the likes of CNBC, Forbes Europe and Business Insider. In 2022, SEON closed a record-breaking USD $94m Series B investment for companies in the financial crime prevention sector and is using the funding to further its global reach and capabilities.
SEON’s success has seen it receive the following accolades:
- CNBC’s top 200 global fintech companies list (2023)
- Winner of the ‘Hottest Cybersecurity Company’ at the 2022 Europas Awards
- Sifted ‘Rising 100’ List (2023)
- Crunchbase ‘Emerging Unicorn’ List (2022)
- Company Co-Founders Forbes’ ‘30 under 30 Europe’ List (2023)
DEEPENING EXPERTISE:
As SEON has grown, so too has its capabilities. In early 2022, SEON received a record-breaking $94m Series B funding round, gaining backing from Silicon Valley VC firm, IVP. Since then, SEON has leveraged this investment to take its next big step into FinCrime prevention with the acquisition of AML and KYC specialist firm Complytron in 2023. In doing so, SEON is now able to offer a vital single source for FinCrime prevention, a fundamental aspect of modern-day security.
SEON: A WORTHY TOP40 PLACEMENT:
At its core, SEON wants to democratise the battle against online fraud and financial crime, to ensure that businesses of all sizes have access to robust, affordable, and user-friendly solutions. SEON’s system fulfils this objective by offering pay-as-you-go seamless integrations.
Based on supervised Machine Learning and AI, SEON’s solutions constantly evolve to keep pace with a fraud ecosystem that legacy fraud prevention companies struggle to keep up with.
From providing solutions that are vital to the fraud prevention strategies of major businesses, to advancing its offering into AML and KYC, and to helping provide a more robust FinCrime prevention solution, the company is responding to real-world issues in real time.
From record-breaking investment rounds to its staggering growth figures, the company stands out as a key influencer in the security space. The company is braced for its busiest year yet as it continues to scale, while further adding to its product line. All of this makes SEON the obvious choice for TechRound’s ‘The Cybersecurity40’.
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