Farhan Afsahi

What is Verified?

So Verified basically, it's like Stripe, but for verification.

We provide verification APIs for B2B companies that want to learn more about other companies they want to work with.

and get the company information like company status, registration date, and other data that they might need to verify the legitimacy of the company they want to work with.

So basically, we're building this service for enterprise-type customers because of the regulatory requirements that they need to abide with.

So they're not a verification and fraud detection company.

So we're focusing on fraud prevention, mostly, and verification part of the job.

So they're not mostly connected to company data sources, government data sources, but we are.

For example, if you want to work for the company in China, you're based in the US and you want to learn more if you can trust the company you want to work with in China.

You just entered a name in our program.

And it will give you a basic score that whether that company has any type of red flags or not.

So ZoomInfo or ClearBeat and other types of like these type of softwares are built for sales mostly, but we are building these for fraud detection and verification.

So we are mostly providing red tech.

So the problem right now, for example, in RegTech is that most of the verifications take too long.

And also, for example, data implementation takes a lot of time, for example, for enterprises to have real time information.

So getting real time information about a company that was registered yesterday

is a bit hard.

At the same time, current fraud prevention companies are focusing on e-commerce fraud, but our main focus is on B2B fraud.

So right now we have access to over 300 data sources.

Farhan, what's an example of B2B fraud?