You need to do more than "peek at" the real data, at least if you are buying a business for actual revenue and not for it's potential as an idea.

You need to follow at least some threads all the way down to the ground truth.

First, ask for 20 references of successful happy customers, talk to all of them, and do some verification. Then demand to see all the "real" data and select a random sample of 50 emails and track them all down to real people (or not), and ask the people at those endpoints what is going on.

Yes, this would take a week for a handful of interns/junior employees and one senior staffer. But you are about to invest $175 million. It is worth a bit of actual effort, not just a bunch of handwaving over expensed dinners.

This should be a career-ending move for anyone involved at Chase.

( Remember: should =/= is )

When I say real data I mean data that was not handed to you by people who have 175 million reasons to fake it. Like another commenter added try to talk to some of their customers, in this case even trying to email them seems like it would have been enough.