SEON Fraud Fighters

SEON

Trade name

| SEON TECHNOLOGIES UK LTD

|

Type| Private
Industry| Fraud detection software developers
Founded| 2017, in Budapest, Hungary[1]

Key people

* Tamas Kadar (CEO)[2]
* Bence Jendruszak (COO)[2]
* Jimmy Fong (CCO)[3]

Number of employees

| 250
Website| seon.io

SEON is an online fraud prevention platform that detects and stops fraud in real-time through transactional data analysis.[4][5][6] Tamás Kádár and Bence Jendruszák founded the company in 2017 . The company headquarters are in London, [Business Insider], with additional offices in Budapest, Hungary , Austin, Texas, and Jakarta, Indonesia.[4] [7][5]

[2] [3] [1] [8] [9]

## History

SEON was founded in Budapest, Hungary, in 2017 by Tamas Kádár and Bence Jendruszák[10]. Kádár and Jendruszák became friends while studying at Corvinus University over their shared interest in cryptocurrencies.[5] [10] They launched the company following their studies after their firsthand experience of being targeted by online fraudsters.[7]

SEON has been through two series of venture capital funding. In March 2021, SEON raised $12M in a Series A round, making it one of Hungary's largest Series A funding rounds[11]. Swedish venture capital firm Creandum led the round. The company raised a further $94M in its Series B funding, led by Silicon-valley based IVP, in April 2022[4][12] [6]. SEON is valued at over $500 million[13].

The company uses artificial intelligence and machine learning to establish a user's digital footprint to distinguish between authentic and fraudulent activity[14][6].

## Partnerships

SEON is partnered with Rivalry, Air France, Patreon and Ladbrokes [15]

SEON acquired AML startup Complytron in February 2023 to add an AML capabilities to it platform[16].

## References

1. ↑ 1.0 1.1 Hunt, Simon. "Soho-based cyber security firm SEON raises £72m from Silicon Valley fund". https://www.standard.co.uk/business/seon-ivp-seires-b-online-fraud-cyber-security-b994963.html.
2. ↑ 2.0 2.1 2.2 Browne, Ryan. "Fintechs are under pressure to stop Russian sanctions evasion. This start-up raised $94 million to help". https://www.cnbc.com/2022/04/19/fraud-prevention-start-up-seon-raises-funds-to-fight-sanctions-evasion.html.
3. ↑ 3.0 3.1 Dumasia, Joy. "SEON partners with Provenir to build new fraud prevention solutions". https://ibsintelligence.com/ibsi-news/seon-partners-with-provenir-to-build-new-fraud-prevention-solutions/.
4. ↑ 4.0 4.1 4.2 "Tamas Kadar - 2023-03-06 - 30 Under 30 Europe 2023 Callouts" (in en). https://www.forbes.com/pictures/64064ce22a8f09e0f7c60390/tamas-kadar/.
5. ↑ 5.0 5.1 5.2 "A modern fraud prevention solution built for today’s world". https://www.reuters.com/brandfeature/the-business-reporter/technology-hub/a-modern-fraud-prevention-solution-built-for-todays-world.
6. ↑ 6.0 6.1 6.2 "SEON Raises $94 Million Series B to Address Exponential Growth of Online Fraud" (in en). Bloomberg.com. 2022-04-19. https://www.bloomberg.com/press-releases/2022-04-19/seon-raises-94-million-series-b-to-address-exponential-growth-of-online-fraud.
7. ↑ 7.0 7.1 Pratt, Kevin. "Quickfire Questions - Tamas Kadar & Bence Jendruszak, co-founders, SEON" (in en-GB). https://www.forbes.com/uk/advisor/personal-finance/2021/06/29/quickfire-questions-tamas-kadar-bence-jendruszak-co-founders-seon/.
8. ↑ "CBInsights". https://www.cbinsights.com/company/seon-technologies/financials.
9. ↑ Davis, Hazel. "Founder and CEO of Hungary's most-funded tech startup uses ethos of self-reliance and strong partnerships to drive innovation". https://www.businessinsider.com/seon-hungarys-most-funded-startup-uses-self-reliance-and-strong-partnerships-to-drive-innovation-2022-7?r=US&IR=T.
10. ↑ 10.0 10.1 "Fighting fraud in fintech: SEON CEO talks crime prevention" (in en). 2022-08-22. https://fintechmagazine.com/digital-payments/fighting-fraud-in-fintech-seon-ceo-talks-crime-prevention.
11. ↑ Butcher, Mike (2021-03-17). "Fraud prevention platform Seon raises a $12M Series A round led by Creandum" (in en-US). https://techcrunch.com/2021/03/17/fraud-prevention-platform-seon-raises-a-12m-series-a-round-led-by-creandum/.
12. ↑ "Soho-based cyber security firm SEON raises £72m from Silicon Valley fund" (in en-GB). https://uk.finance.yahoo.com/news/soho-based-cyber-security-firm-102824862.html.
13. ↑ Browne, Ryan. "Fintechs are under pressure to stop Russian sanctions evasion. This start-up raised $94 million to help" (in en). https://www.cnbc.com/2022/04/19/fraud-prevention-start-up-seon-raises-funds-to-fight-sanctions-evasion.html.
14. ↑ "SEON offers insights into 2023 fraud trends" (in en). https://thepaypers.com/digital-identity-security-online-fraud/seon-offers-insights-into-2023-fraud-trends--1260459.
15. ↑ Butcher, Mike (2022-04-19). "Anglo-Hungarian anti-fraud platform SEON pulls in a $94M Series B led by IVP" (in en-US). https://techcrunch.com/2022/04/19/anglo-hungarian-anti-fraud-platform-seon-pulls-in-a-94m-series-b-led-by-ivp/.
16. ↑ Butcher, Mike (2023-02-06). "Post Series-B, anti-fraud platform SEON acquires AML startup Complytron for a rumored €2.5M" (in en-US). https://techcrunch.com/2023/02/05/post-series-b-anti-fraud-platform-seon-acquires-aml-startup-complytron-for-a-rumoured-e2-5m/.

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