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SaaS Interviews with CEOs, Startups, Founders

22 yo Launches B2B Fraud Prevention SaaS That Will Tell you if the China Steel Company is Real or Not

SaaS Interviews with CEOs, Startups, Founders

Nathan Latka

Ceo, Entrepreneurs, Founders, Software, Business, Entrepreneurship, Saas, Startups

4.6683 Ratings

🗓️ 31 August 2023

⏱️ 18 minutes

🧾️ Download transcript

Summary

Transcript

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0:00.0

Verified.com. It's fraud prevention in the B2B space. If you're trying to do a deal with the steel manufacturer in China, he'll tell you if they're legit or not. Same thing in the oil industry. Very relevant considering what's happening with sanctions in Russia right now. They're doing a business with 27 customers doing 7,800 per year right now in terms of run rate revenue. Each customer paying on average $24 per month with consider raising $300,000 at a

0:21.9

$3 million valuation selling it, you know, call it 10% of the companies look to scale. He wants

0:25.9

that credibility in the marketplace right now with his team of two as they launch.

0:30.9

Hey folks, my guest today is Farhan Afzahi. He's a 22-year-old started his first startup when he was 18, which is a hybrid of Zoom and Moodle.

0:38.9

It was called Ed Pex.

0:42.4

Now he's working on building a web hosting startup called X-Grid.

0:43.7

Sorry, he did that.

0:46.1

In the meantime, he learned a lot about design and software development, now working on Verified for the last 10 months.

0:49.0

That's V-E-R-I-E-T.com.

0:52.8

Farhan, you ready, it takes to the top?

0:56.1

Yeah, sure.

0:57.0

What is verified?

1:03.0

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

1:09.0

We provide verification APIs for B-2B companies that want to learn more about other companies they want to work with and get the company information like company status, registration date,

1:15.6

and other data that they might need to verify the legitimacy of the company they want to work with.

1:21.9

So basically we're building this service for enterprise-type customers because of the regulatory requirement that they need to

1:32.5

abide with, like, that was set forth by the governments.

1:39.6

And yeah, that's basically.

1:41.4

And Farhan, what's your unique mousetrap here?

1:43.6

There's a lot of companies that sell data on other companies, Zoom info, Bombora, Cognism.

1:47.8

There's a lot of them, you know, a clear bit.

1:49.9

What's the unique piece of data that you get that nobody else gets or other people have a

...

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