Seon , which allow us to online businesses fight online being cheated like fake accounts have raised a $12 hundred Series A round led prelit by Creandum, with taking part from PortfoLion, part of OTP Bank. The funding sounds one of Hungary’s larger number A rounds to date.
Seon might be fraud-detection startup that creates a customers’ ‘digital footprint’ in order to weed out false accounts and thus prevent fraudulent protocole. Clients include Patreon, AirFrance, Rivalry and Ladbrokes Created in 2017, the company should certainly bave been profitable for the end of 2019, instantly experiencing growth through working for neobanks, esports, gaming, Foreign currency, and crypto trading all through the rapid digitization brought on by one of the pandemic.
SEON’s CEO and Founder, Tamas Kadar, said in a issue: “We’re extremely pleased to display completed our latest financing round, led by Creandum, joining its exciting techie portfolio. We feel we’ve found a like-minded peoples to work closely with that would pursue the significant global chance for our business as we also democratize fraud fighting. ”
Bob Schmincke, general partner at Creandum, said: “At Creandum, we believe cybercrime will be one of the more serious threats of the 21st century. With SEON, we’ve saw an anti-fraud solution here is effective, affordable, flexible, instinctive, and clearly proves the book’s ROI. ”
Gábor Pozsonyi, soulmate at PortfoLion Capital Wifes, added: “Seon is a basically useful brand: it offers a means to00 one of the greatest challenges of digitalization, not only saving hundreds of millions pointing to euros for its partners and yet making the internet a comfortable place. ”
SEON are seen as competition with Emailage, Iovation, Threatmetrix. However , SEON’s thesis is due to the fact that social media is a great proxy in a legitimate user vs bot/fake fraudster, so it looks greatly at social accounts within order to weed out fraudsters.
As part of the buying into round, Seon has brought mobile the following investors as shareholders: N26 founders, Maximilian Tayenthal and Valentin Stalf; SumUp founders Stefan Jeschonnek additionally Jan Deepen; Tide TOP DOG Laurence Krieger; Revolut ex-CFO Peter O’Higgins; iZettle ex-chief Product Officer Leo Nilsson; Onfido cofounder Eamon Jubawy, and ComplyAdvantage founder Steve Delingpole.