VeriPura
Confidential · Seed Stage · March 2026

Agentic Compliance for
Regulated Food Imports

Preventing border rejections before a shipment leaves the country of origin — automatically, immutably, at scale.

€750KSAFE · €3.75M Cap
€33.2MY5 Net Revenue
26–60×Investor MOIC (Bear–Bull)
€340B+EU + USA Food Import SAM

The Problem

Every year, billions of euros in food shipments are delayed or destroyed at EU and US borders — not because the product is unsafe, but because the paperwork is wrong.

€5K–€50K
Cost per compliance incident

A single missing or incorrect certificate can halt an entire shipment. Demurrage, storage, re-inspection, destruction — costs fall entirely on the EU or US importer.

39%
of EU import refusals are documentation failures

Based on FDA refusal database analysis of 65,667 human food rejections. The product itself is rarely the issue — the compliance paperwork is.

100%
Legal liability sits with the importer

EU and US importers bear full legal accountability — but depend entirely on Global South suppliers to produce the correct paperwork. A structural liability gap with no current fix.

The Status Quo
✉
Email chains between importer and supplier — no audit trail, no version control, no accountability
📄
PDFs and spreadsheets passed between parties — easily falsified, impossible to verify at scale
👤
Freelance compliance consultants — slow, expensive, unscalable. Every €50K consultant is a future VeriPura client
⚠
No agent-native, blockchain-attested platform exists at this intersection — the market is entirely unserved

The Solution

VeriPura is the agentic compliance platform with blockchain attestation that prevents food shipments from being rejected at EU and US borders. Three layers that work together.

01
Agentic Workflows

Collect and validate supplier certificates, cross-check EU and US regulatory requirements, and auto-generate corrected documentation — before the shipment leaves the country of origin. Problems are fixed at source, not at the border.

02
Blockchain Attestation

IOTA blockchain creates an immutable, tamper-proof record of every document and every compliance decision. Customs verifies provenance instantly — no centralised database, no single point of failure, no possibility of retrospective falsification.

03
Reaching Importers at Scale

VeriPura goes to market through two complementary channels. We sell directly to upper-mid and enterprise importers — companies with the compliance burden, the shipment volumes and the budget to justify a direct relationship. In parallel, freight forwarders serve as channel partners who extend our reach into the SME importer segment. Forwarders already touch every shipment, carry the client relationships, and are motivated to reduce their own liability exposure. Critically, each new forwarder partner instantly opens a new geography or market segment — making the channel our primary expansion engine, not just a distribution tactic. CAC: €1,200 via channel vs €9,500 direct.

Platform Expansion Path
Y1 — Now
Food
→
Y3
Vitamins & Supplements
→
Vision
Pharmaceuticals

Why Now

Regulatory mandates are converging in 2026. This is not a trend — it is a permanent step-up in the cost of cross-border food trade.

● Live Now
EU Farm to Fork
2026–2027 phased enforcement

Mandatory origin traceability and digital documentary equivalence for all non-EU food imports. VeriPura is the importer-side attestation layer.

● Live Now
EUDR
Dec 2026 large operators · Jun 2027 SMEs

Deforestation due diligence mandatory for cocoa, coffee, soy, palm oil, beef, rubber, timber. Due Diligence Statement required via TRACES before EU/EEA entry. Documentation burden tripling for affected importers.

● Live Now
US FDA FSMA 204
Enforcement active · Full compliance Jul 2028

Traceability recordkeeping legally in force. Dual EU/US compliance accounts are VeriPura's highest-ARPA segment — one platform solving both jurisdictions simultaneously.

◈ Demand Signal
EU–Mercosur Agreement
Provisionally applying Feb 2026

Signed 17 Jan 2026. Provisional application began 27 Feb 2026. Full ratification by all 27 EU member states pending — ECJ challenge may extend the timeline. Import volumes from Brazil, Argentina and Paraguay ramping immediately under new terms.

◈

Regulatory pressure is not a trend — it is a permanent step-up in the cost of doing business. Every food importer sourcing from a low-CPI corridor now faces mandatory documentation obligations they currently cannot meet at scale.

Market Opportunity

A permanent regulatory step-up in the cost of cross-border food trade — not a trend.

TAM
€420B+
Total Addressable Market
EU food & beverage imports (€170B+) + US food imports ($250B+) + EU vitamins & supplements (€40B+) — all regulated, all documentation-dependent
SAM
~15,500
Importers Needing Compliance Automation
~10,000 EU/EEA SME food importers (EUDR + Farm to Fork) · ~3,500 US importers (FSMA 204) · ~2,000 dual EU/US accounts at highest ARPA
SOM
2,610
5-Year Target Clients
€33.2M net revenue at Y5 · ACV growing €9.9K→€12.7K · Direct sales to enterprise importers + freight forwarder channel partners extending reach into SME segment — each new forwarder opens a new geography
Converging Regulatory Mandates — 2026

Where We Operate — High-Risk Import Corridors

VeriPura operates on any corridor where institutional integrity risk creates documentary compliance exposure. The greater the CPI gap between origin and receiving market, the greater the importer's liability.

Receiving Markets
NL 78 DE 75 CH 81 FR 67 UK 71 US 65 CA 75 DK 90 FI 88 NO 81 SE 80
avg CPI 79
←
44
point gap
→
Origin Corridors
24
43
avg CPI 35
The greater the gap, the greater the documentary risk — and the greater the importer's liability.

Source: Transparency International CPI 2024 · Scale 0 (highly corrupt) → 100 (very clean)

Business Model

Click any cell to expand full detail.

⚠ Problem
Structurally broken cross-border food documentation

Rejections pre-date regulation. Importers in high-compliance markets bear full legal accountability for supplier failures in low-CPI corridors — with no real-time correction capability.

Pre-existing EUDR FSMA 204 Farm to Fork Mercosur
⚙ Solution
Agentic Workflows · Blockchain Attestation · Freight Partner Channel

Auto-validate, auto-correct, and immutably attest compliance documentation before departure from origin country.

IOTAWeb3-native
◈ Unique Value Proposition
"The only platform that prevents food import rejection at the border — automatically, before the shipment leaves."

Core value exists because cross-border documentation is structurally broken. Regulations amplify an urgent problem — they don't create it.

Border-readyAutomatedAttested
🔒 Unfair Advantage
Institutional knowledge + network effects + compounding data flywheel

18+ years food export compliance encoded in the product. Blockchain attestation dataset grows and compounds with every shipment.

Cannot be copied€14M track record
◎ Customer Segments
Initially North America and Western Europe

~10,000 EU/EEA SME food importers. ~3,500 US importers. 2,000 dual-compliance accounts (highest ARPA). Brazilian-corridor importers: highest-urgency 2026 segment.

SME importersDual EU/US Brazil corridor
📊 Key Metrics
135× LTV:CAC · 110–118% NRR · €226K ARR/FTE

21 → 2,610 clients Y1→Y5. CAC payback 2.1 months (Y3). Magic Number 16.5× driven by freight partner channel efficiency.

Y4 EBITDA+Series A Y2
⏱ Why Now · Channels
Three converging mandates + EU–Mercosur + pre-existing demand

EUDR Dec 2026. FSMA 204 obligations active now. Farm to Fork phasing 2026–2027. EU–Mercosur provisionally applying Feb 2026; full ratification pending. Founder network + freight partner channel + IOTA co-marketing.

Regulatory tailwind
💶 Cost Structure
€750K seed deployed across product, team, GTM

Agentic Workflow Architecture + IOTA: €200K · Cloud + SOC2: €50K · Key hires: €180K · GTM: €125K · Legal/Regulatory: €55K · Ops + contingency: €140K. Monthly burn: €46K (Y1) → €55K (Y2). COGS declining 29%→21% Y1→Y5.

📈 Revenue Streams
Subscription + Per-Shipment Attestation · 79% Gross Margin at Y5

€199–€899/month subscription (~80% of revenue) + €15–€280/shipment attestation (~20%). VeriPura retains 80→90% of gross revenue as freight partner share ramps down. Y5: €33.2M net revenue · €11.1M EBITDA (33.5%).

VeriLiquid optionalityACV €9.9K→€12.7K

Competitive Position

No existing solution combines AI compliance automation, blockchain attestation and freight partner distribution for Global South → EU/US food trade.

Manual / Consultants
Status Quo

Email chains, PDFs, freelance compliance consultants. Slow, expensive, unscalable. Every €50K compliance consultant is a future VeriPura client.

❌ No automation · ❌ No attestation · ❌ No scale
ERP Modules (SAP / Oracle)
Wrong Tool

Built for manufacturers, not importers. 18-month deployments. Cannot handle Global South documentary variance or blockchain attestation.

❌ Wrong buyer · ❌ 18-month deploy · ❌ No AI
Point Solutions
Partial

Document management tools, traceability trackers. Address one compliance step. No end-to-end agent-native platform exists at this intersection.

❌ Single-step · ❌ No attestation · ❌ No channel
Web3 Infrastructure (OriginTrail, IBM Food Trust)
Adjacent

Infrastructure and provenance plays — not compliance automation. Require significant integration effort. Not designed for importer-side documentary compliance.

❌ Infrastructure · ❌ Not importer-side · ❌ No agentic workflows
Only End-to-End Solution
✓
Agentic Compliance
Auto-validate, auto-correct documentation before departure from origin country
✓
Blockchain Attestation
IOTA immutable record — customs verifies instantly; proprietary data flywheel compounds with every shipment
✓
Freight Partner Channel
Direct to enterprise + forwarder channel for SMEs — 6× CAC advantage (€1,200 vs €9,500 direct); each new forwarder partner opens a new geography or segment
✓
Domain Expertise Moat
18 years of food export compliance encoded in the product — knowing which cert Thai mango needs to enter Amsterdam takes years to replicate
Comparable Exits at VeriPura's Y5 Profile (€33.2M ARR · 79% GM · 33% EBITDA)
Veeva Systems
Life sciences compliance
10–14× ARR
project44
agentic supply chain visibility
12–18× ARR
TraceLink
Pharma supply chain compliance
7–10× ARR
Descartes Systems
Logistics compliance
8–12× ARR

Traction & Status

Pre-revenue. Pre-contract. The platform is built, the pipeline is real, and the regulatory mandate is live.

✓ Complete
Working Prototype

Live compliance agent demo operational. Screen recording available for async investor review. Core 9-stage workflow — Intake through Ledger — fully demonstrated.

✓ Complete
Financial Model

Institutional-grade 5-year model (v5) — fully auditable with primary source data. Available in the data room on request.

→ Active
IOTA Foundation Engagement

Blockchain attestation layer integration underway with IOTA Foundation. Technical alignment confirmed on document notarisation and verifiable credentials approach.

→ Active
IOTA TWIN Pilot Corridor

Brazil–Great Britain beef corridor in early-stage discussion as a pilot use case with IOTA TWIN infrastructure. UK-specific documentary compliance — outside EU jurisdiction, EUDR does not apply.

→ Active
Freight Partner Pipeline

Conversations underway with EU-based freight forwarders. Anchor partner LOI targeted Q2 2026. Partner channel is the primary go-to-market lever.

→ Active
Importer Pilot Candidates

First EU food importer pilot candidates identified through founder network. Outreach underway targeting Dutch and Swiss SME importers sourcing from high-risk corridors.

◈

This is a raise to sign the first anchor freight partner and close the first 28 clients. Seed proceeds fund the 18-month sprint to Series A readiness at €1.24M ARR.

The Team

Domain expertise and execution track record — the two things that matter most at pre-seed.

Onno Stienen
Onno Stienen
Co-Founder & CEO

18+ years operating in food export and import compliance across Southeast Asia and the EU, including direct experience with South East Asian supply chains (Bangkok-based organic food production). EU food import compliance expert with an active network across the Netherlands, Switzerland and Germany. The regulatory knowledge encoded in VeriPura's compliance engine is his institutional expertise.

LinkedIn Profile
Thomas Oberlin
Thomas Oberlin
Co-Founder & COO

Serial entrepreneur and patent holder with €14M raised across prior ventures. Founder of the first Controlled Environment Agriculture company in South America, and worked in food processing — a firsthand understanding of the supply chain problems VeriPura solves. Italy-based with extensive go-to-market background in innovative B2B environments. Leads fundraising, partnerships and go-to-market.

LinkedIn Profile
◈

Onno has spent 18 years on the exact problem VeriPura solves — he is the target customer. Thomas has raised capital and scaled food ventures across two continents. Together: domain expertise and execution track record to move from prototype to market leader.

5-Year Financial Snapshot

All values in Euro (€) · Base case

Net Revenue Trajectory
Y1 2026 → Y5 2030 · Base case · 255% CAGR
€33M €20M €10M €0 €208K €1.24M €5.19M €15.0M €33.2M Y1 2026 Y2 2027 Y3 2028 Y4 2029 Y5 2030 Anchor partner Series A Vitamins live EBITDA positive Exit window
135×
LTV : CAC (Y3)
2.1 mo
CAC Payback (Y3)
71→79%
Gross Margin Y1→Y5
Y4
EBITDA Positive
18 mo
Runway · Full Raise
€46K
Monthly Burn Y1
Revenue Quality
Net Revenue Retention 110–118%
Gross Revenue Retention 93–96%
Logo Churn (Y5→Y1) 3–6%
Client Growth Y1→Y5 21→2,610
NRR above 110% means existing clients expand faster than any churn — the base grows without new sales.
Unit Economics
Blended CAC (Y3) €2,040
Channel CAC €1,200
Direct CAC €9,500
LTV : CAC (Y3) 135×
CAC Payback (Y3) 2.1 mo
Channel economics drive the blended CAC down. Each new freight partner opens a geography at €1,200 vs €9,500 direct.
Efficiency
Magic Number (Y2) 16.5×
Burn Multiple (Y2) 0.64×
ARR per FTE (Y3) €226K
YoY Revenue Growth +495%→+189%
Magic Number and Burn Multiple reflect freight partner channel efficiency. Direct sales efficiency is modelled separately.
Milestone Gates
Y1 · 2026 Anchor partner LOI
Y2 · 2027 Series A
Series A gate NRR ≥110% · ARR ≥€1.24M
Y3 · 2028 Vitamins · EBITDA inflects
Y4 · 2029 EBITDA positive
Each gate is a binary signal — either the business has earned the next round or it hasn't.
Seed Runway to Series A
€750K deployed over 18 months · Series A target Q1 2027 at €1.24M ARR
First close
€150K · Now
Full close
€750K · Q2 2026
Series A
Q1 2027
▸ 18-month sprint: anchor freight partner → 28 clients → €1.24M ARR exit rate
Income Statement Summary
Fiscal years 2026–2030 · Euro (€) · Base case
Line Item Y1 2026Y2 2027Y3 2028Y4 2029Y5 2030
Net Revenue€208K€1.24M€5.19M€15.0M€33.2M
Gross Margin71%73%75%77%79%
EBITDA(€592K)(€889K)(€700K)€2.46M€11.1M
EBITDA Margin-284%-72%-13%16.4%33.5%
Cash EOP€187K€3.41M€21.5M€25.9M€40.3M
Active Clients211224491,2372,610
FTEs611233957
Investment Return Calculator
Y5 exit · Pre-seed ownership ~16.7% pre-dilution · 8–18× revenue exit multiple
€
Minimum cheque: €25,000
Bear · 8× revenue
€662,500
26.5× MOIC
Base · 12× revenue
€995,000
39.8× MOIC
Bull · 18× revenue
€1,492,500
59.7× MOIC

Illustrative only. Assumes full €750K raise, ~16.7% pre-seed ownership diluting to ~7.5% at exit after Series A and B. Returns not guaranteed.

Use of Proceeds

€750K · 18-month runway to Series A readiness · Deployed across five workstreams

Product & AI Technology
€295K 39%
agentic platform build · IOTA integration · Cloud infrastructure (GCP) · SOC2 audit
Key Hires
€180K 24%
CTO (12-month partial) · Controller/CFO · CEO reduced draw
Go-to-Market
€125K 17%
Direct enterprise sales (EU + US) · Freight forwarder channel partner BD · Market entry
Regulatory & Legal
€55K 7%
EU entity · GDPR compliance · IP filings
Contingency
€95K 13%
Operational buffer · First close bridge if needed
Milestones This Capital Unlocks
Q2 2026 — Y1
Anchor freight partner LOI signed · 28+ EU/US food importers live · First blockchain-attested shipment · ARR exit rate €208K
Q1 2027 — Y2
Series A process launched at €1.24M ARR (target Q1 2027) · 3 freight partners · Magic Number 16.5× · NRR ≥110%
Q2 2028 — Y3
Series B €18M · Vitamins & Supplements module live · 449 active clients · ARR €5.19M · EBITDA approaching breakeven
Y4–Y5
EBITDA positive Y4 (€2.46M) · Cash from operations self-funding · 2,610 clients · €33.2M net revenue · Exit window opens

Investment Terms

Pre-Seed SAFE · March 2026 · Confidential

Raise
€750,000
Pre-seed SAFE · First close open now
Valuation Cap
€3.75M
Post-money · 5× cap on raise amount
Discount
20%
Applied at next equity round conversion
Instrument
SAFE
Simple Agreement for Future Equity · YC standard
Pro-Rata Rights
Included
Right to participate in Series A at same terms
Minimum Cheque
€25,000
Angels welcome · Institutional tranches available
First Close
€150,000
Open now · Target close within 60 days
26× Bear MOIC (Y5)
40× Base MOIC (Y5)
60× Bull MOIC (Y5)

Full SAFE document, financial model and cap table available in the data room. 8–18× revenue exit multiple at Y5.

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Onno Thomas
VeriPura · Ask the Founders
Automated assistant · Onno & Thomas answer