SEON, the antifraud technology startup founded in Hungary, announced this week it has raised a $94 million Series B funding round. The company, now based in London, said it will use the cash infusion to finance expansion in North America, Latin America and the Asia Pacific region. SEON said it will also expand its base of e-commerce customers, which already includes Air France, DoorDash, Max Entertainment, Patreon and others.
“Identity is one of the most important and biggest problems on the Internet,” said Michael Miao, a partner at IVP, which led the funding round. “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.”
SEON also said it will invest in optimizing current features of its solution, simplify integration for the benefit of smaller merchants and increase the scope of the data sources it uses in its solution to provide customers better fraud prevention.
