Farhan Afsahi

So, for example, an example of B2B fraud is that you want to verify a company in China.

You want to buy some steel, for example, from a manufacturer in China.

There are some vendors involved in the process, and you want to check if those companies are registered correctly, if they are not impersonated by some type of scammers or fraudsters, if they're not in any kind of sanctions list or...

like money laundering lists.

So basically it's part of a like due diligence that you're going to do.

We're providing that due diligence for you.

And yeah, so for example, one of the things that we've prevented is like B2B impersonation fraud.

For example, right now in the oil industry, because of the Russian-Ukraine war, there's a lot of fraudulent activities happening that companies in Ukraine, Russia, UAE, Turkey, all of these countries are doing.

in these regions are, for example, copying the data from a U.S.

company and impersonating them as a seller or as a buyer.

And catching this type of impersonation is a bit hard for a normal person or even...

So right now, because we're building APIs mostly, we will charge them per call, API per call.

And also right now on the website, we...

currently are mostly providing our services to SMBs, but that was before we were launching our public APIs.

But from now on, our main focus is going to be on mostly developers and enterprises.

Farhan, today though, what's the average customer pay you per month?

About a month after I started working on Verified.

About nine months ago.

So right now we have about 380 users out of those 380, about 27 are paying customers and our ARR right now is at $7,800 per year.

I see.