Budapest-based SEON is an anti-fraud platform that examines a customer’s “digital footprint” to filter out fake accounts and prevent fraudulent transactions, and is also a Budapest-based compliance and AML specialist. Acquired Complytron.
Terms of the deal were not officially announced, but sources at Techcrunch said the deal was valued at around €2.5 million, although SEON declined to comment. Complytron had previously raised €257,000 for him from his Budapest-based CVC Hiventures.
Complytron co-founder and CEO Oliver Lebhardt joins co-founder and UX lead Abris Gryllus at SEON. A spokesperson for SEON said the acquisition will add his AML capabilities to SEON’s anti-fraud platform, allowing it to offer a wider range of fraud prevention and his AML services.
SEON competes with Emailage, Iovation and Threatmetrix, but focuses on social media accounts to keep scammers out. Last year, he raised $94 million in a Series B round led by Silicon Valley-based IVP.
With the addition of Complytron’s capabilities, SEON will be able to access a variety of AML databases, including international sanctions and crime lists, politically exposed persons (PEP) databases, surveillance authorities and domestic law enforcement watch lists. It claims to mean that you no longer need to search separately. Interpol, FBI, etc.
SEON co-founder and CEO Tamas Kadar said in a statement: Acquiring Complytron’s extensive and innovative algorithms and global database, as well as the expertise of a talented team, made perfect sense for us. ”
Lebhardt adds: It’s great now to be part of the mission and play a role in integrating fraud prevention and her AML tools into her one source. ”
As part of the transaction, SEON will acquire full rights to Complytron’s technology and the company’s staff, including a dedicated AML team.
SEON was also named the Hottest Cyber Security Startup of 2022 by the annual The Europas Awards.
