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Aug 31, 2023 · 17m · top-founders

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

Farhan Afsahi · 7m spoken Nathan Latka · 7m spoken
0:00 / 0:00

gold bands on the timeline = statements, start to end. Hover to read, click to jump. CC turns on captions

In this interview, host Nathan Latka speaks with 22-year-old founder Farhan Afsahi about Verified.com, an API-driven B2B fraud prevention startup that verifies international suppliers and mitigates regulatory risk. They examine the company's early traction of $7,800 ARR, API monetization model, supply chain use cases, and target $300,000 seed fundraising round.

How this conversation actually went

Every chapter scored 0–10 on four independent dynamics. Hover any point for the reasoning behind the score. Nathan holds 48.5% of the talking time here. How this is scored →

Nathan as informed peer 5.2 Guest teaching 3.0 Guest disagreement 2.0 Nathan pushing back 4.2
05100:0010:000:56–3:42 · Nathan as informed peer 6/10 Understanding Verified: API Verification for B2B Nathan presses Farhan on how Verified differs from established data providers like ZoomInfo and Clearbit. Farhan clarifies the difference between sales intelligence and regulatory fraud prevention, while Nathan questions whether Farhan possesses proprietary data inputs.3:43–7:30 · Nathan as informed peer 3/10 Real-World Use Cases in Global Supply Chains Farhan explains cross-border impersonation fraud in steel manufacturing and oil supply chains following sanctions. Nathan accepts the use cases before transitioning into a promotional segment for Founderpath.7:31–9:33 · Nathan as informed peer 7/10 Monetization Model, Early Customer Traction, and Revenue Nathan drills into pricing tiers, customer counts, and annual run rate. Nathan performs live mental math to reconcile Farhan's paying customer count with his stated ARR and average revenue per user.9:33–14:34 · Nathan as informed peer 8/10 Co-Founder Dynamics and Equal Equity Distribution Philosophy Nathan challenges Farhan's equal co-founder equity split and aggressively questions targeting a three million dollar valuation on only 600 dollars monthly revenue. Farhan defends his cap table strategy and data advantages in non-Western markets.14:34–15:42 · Nathan as informed peer 2/10 The Famous Five Rapid-Fire Founder Questions Nathan runs through the standard rapid-fire Famous Five questions. Farhan provides concise answers regarding his age, favorite tools, and work habits.0:56–3:42 · Guest teaching 4/10 Understanding Verified: API Verification for B2B Nathan presses Farhan on how Verified differs from established data providers like ZoomInfo and Clearbit. Farhan clarifies the difference between sales intelligence and regulatory fraud prevention, while Nathan questions whether Farhan possesses proprietary data inputs.3:43–7:30 · Guest teaching 4/10 Real-World Use Cases in Global Supply Chains Farhan explains cross-border impersonation fraud in steel manufacturing and oil supply chains following sanctions. Nathan accepts the use cases before transitioning into a promotional segment for Founderpath.7:31–9:33 · Guest teaching 2/10 Monetization Model, Early Customer Traction, and Revenue Nathan drills into pricing tiers, customer counts, and annual run rate. Nathan performs live mental math to reconcile Farhan's paying customer count with his stated ARR and average revenue per user.9:33–14:34 · Guest teaching 4/10 Co-Founder Dynamics and Equal Equity Distribution Philosophy Nathan challenges Farhan's equal co-founder equity split and aggressively questions targeting a three million dollar valuation on only 600 dollars monthly revenue. Farhan defends his cap table strategy and data advantages in non-Western markets.14:34–15:42 · Guest teaching 1/10 The Famous Five Rapid-Fire Founder Questions Nathan runs through the standard rapid-fire Famous Five questions. Farhan provides concise answers regarding his age, favorite tools, and work habits.0:56–3:42 · Guest disagreement 2/10 Understanding Verified: API Verification for B2B Nathan presses Farhan on how Verified differs from established data providers like ZoomInfo and Clearbit. Farhan clarifies the difference between sales intelligence and regulatory fraud prevention, while Nathan questions whether Farhan possesses proprietary data inputs.3:43–7:30 · Guest disagreement 1/10 Real-World Use Cases in Global Supply Chains Farhan explains cross-border impersonation fraud in steel manufacturing and oil supply chains following sanctions. Nathan accepts the use cases before transitioning into a promotional segment for Founderpath.7:31–9:33 · Guest disagreement 1/10 Monetization Model, Early Customer Traction, and Revenue Nathan drills into pricing tiers, customer counts, and annual run rate. Nathan performs live mental math to reconcile Farhan's paying customer count with his stated ARR and average revenue per user.9:33–14:34 · Guest disagreement 5/10 Co-Founder Dynamics and Equal Equity Distribution Philosophy Nathan challenges Farhan's equal co-founder equity split and aggressively questions targeting a three million dollar valuation on only 600 dollars monthly revenue. Farhan defends his cap table strategy and data advantages in non-Western markets.14:34–15:42 · Guest disagreement 1/10 The Famous Five Rapid-Fire Founder Questions Nathan runs through the standard rapid-fire Famous Five questions. Farhan provides concise answers regarding his age, favorite tools, and work habits.0:56–3:42 · Nathan pushing back 6/10 Understanding Verified: API Verification for B2B Nathan presses Farhan on how Verified differs from established data providers like ZoomInfo and Clearbit. Farhan clarifies the difference between sales intelligence and regulatory fraud prevention, while Nathan questions whether Farhan possesses proprietary data inputs.3:43–7:30 · Nathan pushing back 1/10 Real-World Use Cases in Global Supply Chains Farhan explains cross-border impersonation fraud in steel manufacturing and oil supply chains following sanctions. Nathan accepts the use cases before transitioning into a promotional segment for Founderpath.7:31–9:33 · Nathan pushing back 4/10 Monetization Model, Early Customer Traction, and Revenue Nathan drills into pricing tiers, customer counts, and annual run rate. Nathan performs live mental math to reconcile Farhan's paying customer count with his stated ARR and average revenue per user.9:33–14:34 · Nathan pushing back 8/10 Co-Founder Dynamics and Equal Equity Distribution Philosophy Nathan challenges Farhan's equal co-founder equity split and aggressively questions targeting a three million dollar valuation on only 600 dollars monthly revenue. Farhan defends his cap table strategy and data advantages in non-Western markets.14:34–15:42 · Nathan pushing back 2/10 The Famous Five Rapid-Fire Founder Questions Nathan runs through the standard rapid-fire Famous Five questions. Farhan provides concise answers regarding his age, favorite tools, and work habits.

speaking balance: gold is Nathan, purple is the guest (3 minute bins)

0:00 · Nathan 46.2% · guest 53.8%0:00 · Nathan 46.2% · guest 53.8%3:00 · Nathan 31.3% · guest 68.7%3:00 · Nathan 31.3% · guest 68.7%6:00 · Nathan 73.9% · guest 26.1%6:00 · Nathan 73.9% · guest 26.1%9:00 · Nathan 28.8% · guest 71.2%9:00 · Nathan 28.8% · guest 71.2%12:00 · Nathan 21.7% · guest 78.3%12:00 · Nathan 21.7% · guest 78.3%15:00 · Nathan 90% · guest 10%15:00 · Nathan 90% · guest 10%
Sharpest disagreement ▶ 12:35 Guest rejects twenty-five percent dilution

Farhan firmly rejects a hypothetical five hundred thousand dollar raise at a two million dollar valuation, insisting on giving up no more than ten percent.

 Hardest push from Nathan ▶ 13:17 Host demands justification for three million valuation

Nathan bluntly challenges Farhan to justify a three million dollar valuation when the business is generating only six hundred dollars a month in revenue.

 Biggest teaching moment ▶ 3:43 Guest details complex B2B supply chain fraud

Farhan breaks down how scammers impersonate registered entities in global trade like Chinese steel manufacturing and Russian oil.

 Nathan holds their own ▶ 13:04 Host confronts founder on market reality

Nathan counters Farhan's fundraising expectations by noting that selling only ten percent is unrealistic in the current macroeconomic climate.
the scores for every segment, with the reasoning behind each
ChapterTopicNathan as informed peerGuest teachingGuest disagreementNathan pushing backWhy
Understanding Verified: API Verification for B2B 6426 Nathan presses Farhan on how Verified differs from established data providers like ZoomInfo and Clearbit. Farhan clarifies the difference between sales intelligence and regulatory fraud prevention, while Nathan questions whether Farhan possesses proprietary data inputs.
Real-World Use Cases in Global Supply Chains 3411 Farhan explains cross-border impersonation fraud in steel manufacturing and oil supply chains following sanctions. Nathan accepts the use cases before transitioning into a promotional segment for Founderpath.
Monetization Model, Early Customer Traction, and Revenue 7214 Nathan drills into pricing tiers, customer counts, and annual run rate. Nathan performs live mental math to reconcile Farhan's paying customer count with his stated ARR and average revenue per user.
Co-Founder Dynamics and Equal Equity Distribution Philosophy 8458 Nathan challenges Farhan's equal co-founder equity split and aggressively questions targeting a three million dollar valuation on only 600 dollars monthly revenue. Farhan defends his cap table strategy and data advantages in non-Western markets.
The Famous Five Rapid-Fire Founder Questions 2112 Nathan runs through the standard rapid-fire Famous Five questions. Farhan provides concise answers regarding his age, favorite tools, and work habits.

Statements from this episode (7)

Disclosure
Afsahi: Verified provides B2B verification APIs like 'Stripe for verification'
“So verified basically it's like Stripe, but for verification we provide verification APIs for B to B companies that want to learn more about other companies they want to work with.”
Farhan Afsahi Aug 31, 2023 ▶ 0:58
Assertion Not checkable as stated
Afsahi: ZoomInfo and Clearbit target sales, but Verified targets fraud
“So ZoomInfo or Clearbit 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 reg tech.”
Farhan Afsahi Aug 31, 2023 ▶ 2:31
Assertion Partly supported
Afsahi: Russia-Ukraine war sparked a surge in oil industry impersonation fraud
“Right now in the oil industry because of the Russian-Ukraine war there's a lot of fraudulent activities happening that companies in like Ukraine, Russia, and like UAE, Turkey, other some sort of all of countries like these In these regions are for example, co…”
Farhan Afsahi Aug 31, 2023 ▶ 4:28
Assertion Not checkable as stated
Afsahi: Verified has reached $7,800 ARR with 27 paying customers
“So right now we have about 300 and 80 users out of those 380 about 27 are paying customers and our ARR right now is at 700 and sorry seven, 800 dollars per year.”
Farhan Afsahi Aug 31, 2023 ▶ 8:58
Assertion Not checkable as stated
Afsahi: Wells Fargo and Shopify have visited Verified and scheduled demos
“Like for example, since 10 months ago a lot of enterprises and like banks, like Wells Fargo Maybank cheaper cash like Corner Shop, which is a subsidiary of Uber Shopify have visited our website. Some of them scheduled a demo to see how they want to use our pr…”
Farhan Afsahi Aug 31, 2023 ▶ 11:23
Disclosure
Afsahi: Verified is seeking to raise $300,000 for 10% equity
“If it's about, like, 300 K for, like, 10% of the company, yeah.”
Farhan Afsahi Aug 31, 2023 ▶ 12:58
Assertion Contradicted
Afsahi: Competitors lack B2B fraud data for China, Russia, Middle East
“None of our competitors provide their, any data from regions like China or Russia, Middle East, and we include all of these data in our databases as well.”
Farhan Afsahi Aug 31, 2023 ▶ 13:25
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