MAJOR STARTUP EXIT IN HUNGARY

BUDAPEST, Hungary, Feb. 6, 2023 /PRNewswire/ -- Hiventures, Hungary's most significant VC, closed another successful exit. Complytron, which offers anti-money laundering (AML) due diligence services, was acquired by Anglo-Hungarian SEON, the world's fastest-growing fraud prevention company. After the transaction - by favour of SEON - Complytron's solution can potentially reach new global financial players such as Revolut, Nubank, or Afterpay.    

The expanding online presence of people and businesses opens up opportunities for abuse for a new generation of criminals. Complytron, a merely 4 years-old Hungarian startup, competes with this trend with its automated customer due diligence service. Hiventures invested €400 000 in the startup in 2020, from which it is now exiting with a significant return.

The acquisition also signifies SEON's expansion since its $94M Series B investment in April 2022. The combination of SEON's fraud prevention solution and Complytron's AML technology into a single platform is another major step in the battle to reduce FinCrime and will help sectors such as fintech, and ecommerce to prevent criminal activity via their platforms.

Hiventures' portfolio now includes nearly 450 startups, making it one of the most active venture capital investors not only in the CEE region but in Europe. This exit is one of the four most significant exits realized in 2022. "We are proud of all exits, as they show that our investment concept was correct and validate our work in the market. Furthermore, we are glad that yet another innovative Hungarian solution can prove itself on the global stage," emphasized Bence Katona, CEO of Hiventures.

About Hiventures

Hiventures, part of the Hungarian MFB Group, is one of the largest venture capital firms of Central and Eastern Europe. It supports the entire Hungarian entrepreneurial eco-system with its over EUR 420 million capital and professional competencies, including innovative start-ups with large growth potential, traditional SMEs and major corporations. Hiventures is committed to a sustainable and competitive entrepreneurial eco-system in the CEE region. For further details, visit the company website.