Katsh

Katsh wants to do away with online passwords.

To be clear, this company still wants your personal and financial information to be safe and secure. At its core, Katsh is a financial-technology and security company.

But this startup has come up with what it believes is a better alternative to passwords and two-factor authentication apps. Taking its cue from the recent increase in the use of biometric authentication — this is when you use parts of your actual body to identify yourself — Katsh has created technology that enables you to access apps and programs using only your palm.

According to the U.S. government, identity theft is the fastest-growing financial crime, affecting roughly fifteen million Americans each year. And rampant use of stolen ID credentials contributes to eighty percent of fraud cases.

Passwords and two-factor authentication apps are supposed to help limit instances of fraud and hacking. But these steps can be frustrating for users. Furthermore, they can serve as gateways for hackers to gain access and steal identities.

The problem with these “solutions” is that they rely on a special device for authentication. This limits the convenience and security to the device itself. That’s why Katsh created technology that uniquely links your identity to your biological hand, rather than a device. Here’s how it works:

Let’s say a bank wants to use Katsh to confirm a customer’s identity before letting them make a transaction.

The user will open their banking app and request a transaction. The app will relay this request to the bank, which will then ask Katsh to securely confirm the user’s identity. Katsh will send a request to the user’s mobile device, asking them to wave their hand.

Once the user does this, Katsh will verify the identity and relay confirmation to the bank. The bank will pass along this confirmation and enable the user to complete their transaction.

Katsh plans to charge an annual fee for each business user, as well as an authentication fee based on pricing tiers.

The company has built its first Hand ID engine prototype and developed and intellectual-property strategy.

Since 2022, Katsh has achieved 500% growth in beta-testing clients, representing ninety million potential end users.

The company was chosen by VISA as a top “fintech” startup in the U.S. and the Federal Deposit Insurance Corporation (FDIC) chose Katsh’s team to participate in its digital identity proofing sprint, a program to help companies develop solutions for financial institutions.

Additionally, Katsh is in the screening phase with TechStars, a notable startup accelerator. And University of California, Riverside accepted the company’s team into its I-Corps program to conduct customer and market discovery tasks with more than forty organizations.

Team Background

Eli Farhood - Co-Founder & CEO

Eli is a licensed trader and financial-market analyst. He has co-managed portfolios for more than two decades.

Prior to starting Katsh, he was a banker with Wells Fargo. And before that, he co-founded LifeNow.TV, a platform enabling people to exchange live video content.

Earlier, he was a market analyst and trader with IronFX, a financial-services company. Before that, he was a senior-account manager with ACM Gold and Forex Trading.

Eli began his career in finance, serving as a foreign exchange trader with HSBC and Refco, two financial-services companies. He studied Finance at the University of Michigan and Microeconomics at the University of Illinois.

Joe Farhood - Co-Founder & CTO

Joe is a serial entrepreneur who sold a previous company at the age of thirty-one.

Prior to Katsh, he co-founded LifeNow.TV, a video platform enabling people to exchange live video content. Before that, he co-founded Trusttia, an online authenticated review platform for businesses and products.

Earlier, he founded Contacts Converter, a tech company focused on mobile security and software that was eventually acquired. Before that, he was a web developer and founded Netscape Navigator, where he created the first Netscape Navigator Starter Kit CD that automated internet account creation and setup in Lebanon.

Joe studied Computer Science at Lebanese American University.

Nitin Gaur - Business and Technology

Nitin has experience developing enterprise infrastructures and applications for Fortune 500 companies.

After working in a leadership role at IBM for twenty-two years, he is the global head of digital assets at State Street Bank, where he is focused on the transformation of financial services into digital applications.

Co-Investors