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Terms of Service

TERMS OF SERVICE ENTREPRENEURS

Welcome to FundedByMe.com (the "Website"), an electronic meeting platform for crowdfunding.

The Website is provided by FundedByMe Crowdfunding Sweden AB (publ), with company registration number 556871-1823, having its registered address at Box 3460, 103 69 Stockholm, Sweden ("FundedByMe"). The general terms and conditions for the services "Equity Crowdfunding" and “Loan Crowdfunding” (as further set forth below) provided by FundedByMe on the Website to members of the Website ("You"/ "Your").

Please be aware that by accepting the terms of service of FundedByMe You are also accepting the terms and conditions of our Payment Service Provider MangoPay as stated under Section 9 below. You can see the Terms of Service between MangoPay and FundedByMe here.

  1. GENERAL

    1. Subject to approval by FundedByMe and subject to Your approval of these Terms, you will become a Member of FundedByMe when creating a user account at the Website. By giving such approval You enter into an agreement with FundedByMe on these Terms (the "Agreement"). You also approve the processing of personal data, which is made in accordance with our privacy policy, and which is part of the Agreement. Furthermore, You warrant that You are the legal representative of the Entrepreneur and that you as such has the right to enter into the Agreement on behalf of the Entrepreneur. The Agreement shall only regulate the relationship between You and FundedByMe regarding the usage of the electronic meeting platform. Any Loan Agreement or investment in the Entrepreneur by another Member will be an agreement between You and such Member.

    2. FundedByMe’s provision of the Services do not require authorization by the Swedish FSA. However, FundedByMe has notified the Swedish FSA in accordance with the Obligation to Notify Certain Financial Operations Act (1996:1006). Hence, FundedByMe shall comply with the Act (2009:62) on measures against money laundering and terrorist financing by which FundedByMe is e.g. obligated to undertake certain know your customer (KYC) activities including collecting certain personal data from You, which will be made inter alia when registering the user account with FundedByMe and before any funding of Campaigns may be pursued.

  2. DEFINITIONS

  3. “Agreement” shall mean the agreement between You and FundedByMe on the Terms;

    “Borrower” shall mean a Swedish limited liability company who is using Loan Crowdfunding;

    “Business Day” shall mean a day when banks are generally open for business in Sweden;

    “Campaign” shall mean a campaign for either Equity Crowdfunding or Loan Crowdfunding which has been formed in accordance with the instructions set forth on the Website;

    “Equity Crowdfunding” shall mean the service when an Entrepreneur submits a Campaign with the purpose of raising funds from many Investors in return for equity on the terms set out on the Website;

    “Loan Crowdfunding” shall mean the service when an Entrepreneur submits a Campaign with the purpose of borrowing funds from many Investors on the terms set out on the Website;

    “Days” shall mean calendar days;

    “Debt Collector” shall mean the debt collector which according to an agreement with FundedByMe shall provide debt collection services in respect of any defaulted debt under the Loan Agreements.

    “Entrepreneur” shall mean a natural person that submits a limited liability company, which by authorizing a representative to create a user account has become a Member and has been submitted to the Website to seek funding by use of Equity Crowdfunding.

    “Escrow Account” shall mean an account held by the Payment Service Provider where any funds are being held before such funds shall be paid to the Borrower/Entrepreneur or repaid to the Lender;

    “Investor” shall mean a Member who is a natural person or a limited liability company, that is using Equity Crowdfunding for investing in an Entrepreneur in return for equity in such Entrepreneur;

    “Lender” shall mean a Member who is a natural person and is using Loan Crowdfunding to lend money to a Borrower;

    “Loan” shall mean a loan that is provided by a Lender to the Borrower pursuant to a Loan Crowdfunding Campaign in accordance with the terms of their Loan Agreement;

    “Loan Agreement” shall mean a loan agreement between a Lender and a Borrower in which the terms for the Loan is specified;

    “Member” shall mean a natural person (which may be a legal representative of the Entrepreneur or the Borrower) who has registered a user account on the Website and been accepted as a member by FundedByMe;

    “Payment Service Provider” shall mean the payment service provider used by FundedByMe for the transfer of funds between Investors or Lenders to a Member receiving crowdfunding;

    “Pre-Collection” shall mean FundedByMe’s administration of any defaulted Loans prior to when the Borrower’s debt, due to non-payment, becomes subject to debt collection by the Debt Collector.

    “Services” shall have the meaning ascribed to it in Section 4;

    “Terms” shall mean the terms and conditions for the use of the Services set forth in this document;

  4. EMAIL AND PASSWORD

    1. Some pages of this Website are open to all and may be browsed by any visitor. However, in order to become a Member and use the Services, You have to create a user account in accordance with the instructions set forth on the Website.

    2. You may use selected social media accounts as set forth on the Website, to sign in to the Website. Once You have signed in, You may be asked to submit additional information about yourself to help FundedByMe tailor the information shown on the Website. Should You however choose to create a new user account, the email address and password which You choose must not be harmful, abusive, racially or ethically offensive, sexually explicit, defamatory, infringing any intellectual property right or invasive of personal privacy rights. FundedByMe shall be allowed to change Your email and/or password if You are in breach of this Agreement.

    3. When the user account has been verified and approved by FundedByMe You will become Member. Members may be (i) investors or lenders and (ii) as well as entrepreneurs or borrowers seeking funding to Campaigns.

    4. You agree and warrant that You will not disclose (willfully or by negligence) credentials of Your user account with any third party or otherwise allow any third party to use Your user account or Your access to the Service. If You have reason to believe that a third party has gained access to Your user account, You must immediately inform FundedByMe. Please note that You will be responsible for all activities made by use of Your user account.

    5. FundedByMe will require You to provide identification of Yourself when registering at the Website or for accepting Loan Agreements or other documents that You may become a party to and which may be required when using the Services. You will furthermore be obligated to provide documentation as required by FundedByMe, to verify that You are a legal representative of an Entrepreneur or a Borrower.

  5. THE SERVICE

    1. FundedByMe provides an electronic meeting platform for crowdfunding on the Website. Members may, by use of and in accordance with the prerequisites set forth on the Website, submit their Campaigns to FundedByMe, who decides which Campaigns may seek crowdfunding from other Members. Any funding shall be made in accordance with these Terms and as set forth on the Website.

    2. The Service consists of two types of crowdfunding:

      1. “Equity Crowdfunding”, where Entrepreneurs may seek funding from Investors in return of equity ownership in the Entrepreneurs at pre-defined terms set by such company, and

      2. “Loan Crowdfunding” where Entrepreneurs may borrow money from many Lenders on terms agreed between the Entrepreneur and the Lender.

    3. FundedByMe does not take any part in the services specified above. FundedByMe is solely the provider of the electronic meeting platform (an electronic service).

      All investments are made by agreement between (i) the Entrepreneur and an Investor, or (ii) the Entrepreneur and a Lender.

      Regarding Loan Crowdfunding, in addition to the electronic service, FundedByMe will provide a number of administrative services (listed in chapter 7.5) in order to simplify the process for the Entrepreneur and the Lender.

    4. The electronic and administrative services are taxable/liable for VAT in the country where the buyer of the service is established. Therefore, you are obliged to provide FundedByMe information regarding the place where you have established your business or have a fixed establishment for which the service has been supplied or, in the absence thereof, the place where you have your permanent address or usually reside.
  6. EQUITY CROWDFUNDING

    1. Members may, subject to FundedByMe's prior approval, submit their limited liability companies for which they are seeking financing from other Members in exchange for equity, to the Website by use of Equity Crowdfunding, whereby funds may be raised from many investors and in return ownership in the company may be offered.

    2. Subject to FundedByMe's approval in each case, a Campaign for Equity Crowdfunding may start a round. The campaign round is an investment round in which investors may invest. The campaign shall be open for the maximum period of time set forth on the Website.

    3. During the campaign, a Member may offer to participate in the fundraising by specifying the amount such Member would like to invest. Any offer by a Member to invest (including submission of a specified amount) constitutes a non-binding offer to invest by such Member. Such offer may thereafter be accepted or rejected by the Company being subject to the Equity Crowdfunding Campaign.

    4. You agree that FundedByMe is only a platform where Investors may meet Entrepreneurs and that FundedByMe does not provide any advice or take any part in the investment round. FundedByMe does not at any time set the prerequisites for a Campaign for Equity Crowdfunding. All such terms, e.g. the number of investors, the number of shares, the valuation of the company and investment amount are always set by the Entrepreneur.

    5. Furthermore, You agree and are aware that the investment agreement is between the Entrepreneur and the Investor. Any decision to invest in an Entrepreneur is solely the decision of such investing Member. FundedByMe shall never be liable for any Investor’s non-payment of any investment amount, and FundedByMe shall never be liable for any Entrepreneur’s non-issuance of shares.

    6. Any and all investment in an Entrepreneur is always made without involvement of FundedByMe, and thus made only between an Investor and an Entrepreneur.

    7. You agree that any posting of Campaigns shall be made in accordance with (i) applicable legislation and (ii) the instructions set forth on the Website . FundedByMe has the right to deny any Campaign access to the Website at any time and for any reason.

    8. When posting the Campaign to the Website, You agree and warrant that all offerings and investments are made in accordance with applicable legislation, and that all prerequisites for the Campaign (e.g. number of shares offered, valuation of the company, investment amount asked for, financial information to be provided) shall be set by the Entrepreneur and made according to applicable legislation.

    9. You agree to provide Members with the information requested by FundedByMe and as set forth on the Website . You further agree to, without undue delay, approve or reject any offer to invest submitted by an Investor, by sending a confirmation or rejection to that Investor via the FundedByMe platform.

    10. After closure of the campaign, you undertake to finalize the campaign in accordance with applicable legislation. Payment for the equity shall be made by the Investor to the Entrepreneur at terms agreed between such company and the Investors participating in such fundraising. You are responsible for drafting and providing all documentation needed (including legally required documentation) for completing the campaign.

    11. FundedByMe has the right to, at any time and at its convenience, cancel, interrupt or suspend any Campaign at any time, subject to prior notice. Such cancellation, suspension or interruption may e.g. be made due to your or the Campaign's violation of applicable legislation, this Agreement or any terms applicable to the Website.

  7. LOAN CROWDFUNDING

    1. Loan Crowdfunding Process

    2. Subject to FundedByMe's approval in each case, the Borrower may in accordance with this Agreement and the terms set out on the Website, request loans from members registered on the website (FundedByMe’s Members). Such request is made by the Borrower providing the information as set forth on the Website, which shall include the loan amount that the Borrower would like to borrow and the purpose for which the Loan shall be used. The loan amount for a Campaign shall be at least EUR 4,000 and may not exceed EUR 150,000. Furthermore, the number of subscribing Lenders in a Campaign may not exceed 1,000 persons.

      The Borrower shall provide full and accurate information within the loan application process and when creating a Campaign. The requested amount must not be changed during a loan process.

      When FundedByMe has received an application from a Borrower it will, inter alia, establish a credit score for the applicant based on, inter alia, risk assessments made by the credit scoring companies used by FundedByMe . The credit score will be disclosed on the Campaign’s Website if the Borrower’s application is accepted.

      When the Borrower’s application has been accepted by FundedByMe, the Campaign will be submitted to FundedByMe’s Website and the subscription period will commence. The subscription period for a Campaign is 45 Days. However, should the Loan be fully subscribed for, or should the number of subscribing Lenders reach 1,000 persons, before the 45 Days have passed, the Campaign will be closed and the subscription period will end.

      During the subscription period, Lenders may subscribe on the Campaign’s Website. Upon subscription the Lender will be required to transfer the amount subscribed for to the Campaign’s escrow account held by the Payment Service Provider. In a Campaign each Lender is entitled to subscribe for an amount between EUR 50 and EUR 20.000 per Transaction A Borrower must never participate as a Lender in such Borrower’s Campaign.

      The Campaign would be considered as successfully closed if at least eighty (80) percent of the requested amount has been subscribed for at the end of the subscription period.

      FundedByMe has the right to, at any time and at its convenience, cancel, interrupt or suspend any Campaign at any time, subject to prior notice. Such cancellation, suspension or interruption may be made e.g. due to the Borrower’s or the Campaign's violation of applicable legislation, this Agreement or any terms applicable to the Website.

      During the Campaign the Borrower shall provide FundedByMe and the Members with all information reasonably requested by FundedByMe and/or any Member, e.g. by use of the Q&A function provided on the Website.

    3. Loan Agreement

    4. If the Campaign has been successfully closed, the Borrower will, at the end of the subscription period, enter into Loan Agreements with the Lenders who have subscribed to the Campaign. The Loan Agreements will be completed within 14 days after a successfully closed loan campaign.

      The terms of the loan agreements will be available on the Campaign’s website and the Borrower and the lenders who have subscribed to the Campaign will also receive drafted Loan Agreements before they are entered into.

      Each Loan Agreement becomes binding when it is entered into, but the Borrower and the Lender will always, however, be entitled to cancel the Loan Agreement within 14 Days from execution in accordance with the Distance- and Off-premises Sales Act (the “Respite Period”).

      On the first Business Day following the Respite Period for the loan agreements have passed, FundedByMe will instruct the Payment Service Provider to transfer the Loan (less the Loan Crowdfunding Fee described below) from the Campaign’s escrow account to the Borrower. From such date, the Loan Agreements with the Lenders will enter into force and the Loan will accrue Interest.

      The Borrower has 14 days after a successful campaign closure to submit additional documents needed the verify his and companies identity. The Loan Agreement comes into power one the first business day after the “Respite Period”

      The Loan shall be repaid in equal quarterly installments in accordance with the terms of the Loan Agreements, starting with the date in which the Loan Agreement comes into paper. The quarterly instalments are being on the day in which the loan agreement came into power, not calendar quarters.

      Should the Borrower fail to repay the Loan to any Lender as set out in the Loan Agreement, the Lender shall have the right to receive interest on any overdue payment. Furthermore, the Borrower hereby agrees that the following debt collection process shall apply.

    5. Securities

    6. FundedByMe may, in order to accept the Borrower’s application, request the Borrower to provide security for the loan. In such case, the security requested will be a guarantee (sw. Borgen) from a third party. The guarantee shall be provided in writing in the form further set out on the Website. Please be advised that the guarantor must not be a guarantor for more than one Campaign at a time.

    7. Defaulted loans

    8. In the event the Borrower should fail to pay any principal and/or interest when due, FundedByMe will, during the so called Pre-Collection phase, on behalf of the Lenders, send reminders to the Borrower. Should the Borrower, after receipt of such reminder, still fail to honour the loan FundedByMe will during the Pre- Collection phase, also notify the Guarantor and request payment (provided that the Campaign has been secured by a guarantee).

      FundedByMe has entered into a frame agreement with a debt collector for the procurement of debt collection services (the “Debt Collector Agreement” or “DCA”) in respect of all Loan Crowdfunding Campaigns active, which you can see here. Should any due debt remain unpaid after 60 days, the Debt Collector will be instructed to collect the Borrower’s debt. The services of the Debt Collector pursuant to the DCA include, inter alia, sending debt collection letters, filing injunction to pay requests and execution requests at the Swedish Enforcement Authority, and, if the debt has been disputed, to commence and act as counsel in court proceedings. You can find the agreement between the DCA and FundedByMe here.

    9. Authorizations and power of attorneys

    10. By entering into this Agreement, You agree to buy the following administrative services:

      1. Based on the credit assessment provided by the credit assessment company, FundedByMe will rate the Borrower and the Borrower will be given a risk grade that will be published on the Website;

      2. Should the Borrower not submit the Campaign for Loan Crowdfunding within seven (7) days, then a new credit assessment will be made, which may result in a new risk grade;

      3. Based on several parameters, including the term of the Loan and the credit assessment, FundedByMe will propose an interest rate of the Loan;

      4. FundedByMe will verify the identity of the Borrower and its representatives by searching official registers;

      5. FundedByMe will control with relevant third parties that the bank account that the Borrower will use to receive the Loans is registered in the name of the Borrower.

  8. RULES OF CONDUCT

    1. You agree and warrant that You will not publish, post, transfer, distribute or upload any content or information to the Website and/or the Service which:

      • is false, misleading, untruthful or inaccurate,

      • promotes or encourages illegal activity,

      • is racially or ethnically offensive and/or constitutes agitation against a minority (such as a national or ethnic group),

      • constitutes defamation, contains pornography or is in any other way sexually explicit,

      • attacks sexual orientation or religion or is discriminating in any other way,

      • is in any way harmful, abusive, offensive or illegal or which infringes the rights of any third party (such as including but not limited to copyright and trademarks).

    2. You agree and warrant that You will not (and will not permit any third party to):

      • use the Website and/or the Service to transfer or upload files or other content that contains viruses, corrupted data, malicious software or other programs that may harm computers or other property,

      • use the Website and/or the Service to defame, harass, discriminate or threaten another person/company or in any other way violate rights,

      • distribute or reproduce all or any part of the Website or the Service,

      • alter, disassemble, decompile or reverse engineer any part of the Website or the Service, unless explicitly permitted by mandatory law,

      • use software that reads data on the Website or the Service automatically,

      • use the Website and/or the Service to request or encourage other users to breach any provision of this Agreement,

      • abuse the Website or the Service or use it for any unlawful or unauthorized purpose (which includes transmitting any computer viruses through the Website, or using the Website and/or the Service in a manner which violates or infringes the rights of anyone else).

    3. FundedByMe reserves the right to immediately remove any content from the Website that FundedByMe in its sole discretion deems is in breach of the Agreement, any other terms or conditions posted on the Website or is otherwise harmful for FundedByMe or its Members.

    4. The Service may enable You to send messages to Members who have reserved shares of the Entrepreneur within a Campaign for Equity Crowdfunding. Such messages are not reviewed by FundedByMe. You are personally responsible for any messages You send by use of the Service and You agree and warrant that You will not send messages in breach of the Agreement including to harass or threaten other Members, including but not limited to repeatedly sending unwanted messages.

  9. FEES AND PAYMENT TERMS

    1. General

    2. At present, FundedByMe does not charge any fees for a Campaign for Loan Crowdfunding, at the time of submission to the Website. Hence, when the Campaign for Loan Crowdfunding has been closed, you agree to pay FundedByMe remuneration for the usage of the electronic meeting platform.

      Submission of a Campaign for Equity Crowdfunding is however subject to a fee as set out on the Website.

      Payment for funding in a Equity Crowdfunding Campaign shall always be made from the Investor to the Entrepreneur, and payment of a Loan within Loan Crowdfunding shall always be made from the Lender to the Borrower, and shall not at any time be made to FundedByMe. All payment shall be made in accordance with the instructions set forth on the Website, e.g. by the use of the Payment Service Provider as specified by FundedByMe. Hence, FundedByMe shall not take possession of Campaign funds at any time.

      Payment of an investment in Equity Crowdfunding shall be made in the currency stated on the Website when the Campaign is submitted to the Website for funding. Any payments and repayments within Loan Crowdfunding shall be in Euro.

      In case you are a non-SEPA resident, each decision to payout your funding to your bank account, will connected with a service fee. Your cash-out services will be collected in your escrow account and visible on your dashboard, so that the decision, when you can payout your funds can be done manually.

      You agree to use the Payment Service Provider as decided by FundedByMe , and which is provided from the Website for the transfer of funds from any Member to You. By accepting these terms of service You also accept MangoPay's terms and conditions or the user terms provided by another Payment Service Provider. The Payment Service Provider may charge fees for the use of their payment services, which You agree to pay.

      FundedByMe does not warrant the correctness of any payment made through the use of the Payment Service Provider.

      You are responsible for paying any applicable taxes in relation to the funding. Furthermore, You shall at all times keep FundedByMe updated with accurate and up-to-date information regarding your tax residency. Furthermore, You shall pay the Payment Service Provider the applicable service fee, as may be set out on the Website or in such service provider’s terms and conditions.

    3. Equity Crowdfunding

    4. The Entrepreneur shall pay FundedByMe the registration fee as set forth at the Website, before entering into a Campaign round for Equity Crowdfunding. The registration fee is a remuneration for the usage of the electronic meeting platform. Payment of such registration fee shall be made in accordance with the instructions set forth on the Website.

      The Entrepreneur shall pay to FundedByMe a fee for using the Service for an Equity Campaign (the "Equity Crowdfunding Fee") as set out on the Website . The Equity Crowdfunding Fee is eight (8) per cent of the total amount of funds raised in the Campaign for Equity Crowdfunding at the time of closing such campaign and of the funds raised during a period of ninety (90) Days following the date when the Equity Campaign was removed from the Website, regardless of whether the funds has been received directly through the use of the Equity Crowdfunding or not. For the avoidance of doubt, the total amount of funds raised shall mean the total amount of (i) funds stated on the Website at the time of closure of the Campaign for Equity Crowdfunding and (ii) funds raised within such 90-Day period after such campaign was removed from the Website or according to the Share Issue Bank Statement provided by the Entrepreneur to FundedByMe.

      FundedByMe has the right to invoice the Equity Crowdfunding Fee immediately after closure of the campaign (i.e. after the Campaign for Equity Crowdfunding has been closed for funding on the Website), although the financing round may not have reached its fundraising goal. You agree to pay all invoices regarding such Equity Campaign Fees to FundedByMe within ten (10) Days of the invoice date.

    5. Loan Crowdfunding

    6. FundedByMe has the right to receive a fee for the Borrower’s use of the Service for a Campaign for Loan Crowdfunding (the "Loan Crowdfunding Fee") as set out on the Website. The Loan Crowdfunding fee is a remuneration for the usage of the electronic meeting platform. At present, such Loan Crowdfunding Fee is four (4) per cent of the total Loan amount as set out in the Loan Agreement, whereof approximately half of such fee will be paid by FundedByMe to the Payment Service Provider.

      The Loan Crowdfunding Fee is subject to that the Borrower enters into a Loan Agreement with the Lender. The Borrower hereby agrees that Loan Crowdfunding Fee will be drawn down directly from the clients account in accordance with the Payment Service Provider to FundedByMe. Hence the amount that will be transferred to the Borrower shall correspond to the amount set out in the Loan Agreement as the Loan, less the Loan Crowdfunding Fee.

      In case the Lender, has declared that his or her tax residency is Sweden, the capital gain tax will be withheld for him or her by the entrepreneur and paid per annum to Swedish Tax Authorities.You might find more information here

      Should the Campaign for Loan Crowdfunding be successfully completed as set out in Section 7.2 (i.e. be subscribed to at least 80%), but the Borrower will not submit such information as requested on the Website or the Payment Service Provider’s website 14 days since a successfully completed campaign and therefore the Loan will not be transferred to the Borrower, then FundedByMe shall have the right to charge the Borrower a service fee of three (3) percent of the Loan amount. Such fee will be invoiced to the Borrower, and the Borrower shall pay the invoice within thirty (30) Days from receipt of the invoice. If FundedByMe has not received payment on the due date, then FundedByMe shall have the right to receive interest on the overdue payment in accordance with the Swedish Interest Act (1975:635).

      Furthermore, FundedByMe shall have the right to charge the Borrower a fee, as set out on the Website, in respect of any payment reminder letter sent by FundedByMe to the Borrower. At present the fee is SEK 60 per cent reminder letter.

  10. YOUR LIABILITY AND INDEMNIFICATION

    1. Campaigns

    2. You are solely liable for the use of the Services and for all information provided to Members or other users of the Website. You are aware that FundedByMe does not offer any financial advice or any other advice on investments or the process of any financing rounds or equity fundraising.

      You shall be liable to FundedByMe for any damages caused to FundedByMe or any third party related to this Agreement, including but not limited to the use of the Services in breach of this Agreement. Furthermore, You agree to indemnify FundedByMe in relation to any claims, costs (including reasonable legal costs) damages, expenses, liabilities and losses incurred by FundedByMe arising in any manner in relation to Your breach of this Agreement.

  11. FUNDEDBYME'S LIABILITY

    1. FundedByMe does not grant any warranties, express or implied or otherwise, as to the accessibility, quality, suitability or accuracy of the Website. There are situations when the Services will not be accessible, including but not limited to necessary maintenance and circumstances outside the control of FundedByMe such as net access failure, for which FundedByMe shall never be liable.

    2. All investments are made by agreement between (i) the Entrepreneur and an Investor, or (ii) the Entrepreneur and a Lender (as mentioned in chapter 4.X). All information displayed on the Website is displayed by the Member seeking investment. FundedByMe does not at any time take possession of funds, provide any financial advice on investments and shall therefore not be liable for any investment in a Campaign, or the information provided by any one of them. FundedByMe does not at any time warrant the fulfilment of any Member's payment undertaking and shall never be liable for the fulfilment of any Member's investment in an Equity Campaign.

    3. Notwithstanding the above in this Section 11, and to the extent permitted by applicable law, FundedByMe shall not be liable to You or any third party for any direct damages, indirect damages or any other damages of any kind including but not limited to loss of profit, loss of income, loss of revenue, business interruption and goodwill losses arising out of or in connection with the Agreement or the use or inability to use the Service or the Website.

    4. To the extent FundedByMe is liable to You for any damages, FundedByMe's total and aggregate liability to You (whether for negligence, breach of contract or any other cause of action shall be limited to EUR 1,000. FundedByMe shall not be liable to You for any claims made by third parties towards You.

  12. INTELLECTUAL PROPERTY RIGHTS

    1. You agree that the Website and Service contain content specifically provided by FundedByMe or third parties and that such content may contain intellectual property rights. You agree to respect all intellectual property rights, including but not limited to copyright, trademarks, trade names (whether registered or not) contained or displayed on the Website or which You gain access to in connection with the Service. You may only use the content of the Website for the use of the Service and You must not use the content of the Website in breach of applicable law or the Agreement. You may use such intellectual property rights only for the purpose of browsing the Website and to use the Service. FundedByMe does not grant You any other license to use said intellectual property rights except as expressly set out in this Agreement.

    2. When submitting a Campaign to the Website, You may upload content, videos, audio clips, written comments, data, text, photographs, software, scripts, graphics and other information ("User Content") to the Website. Ownership of all User Content shall stay with You or the third party having ownership to such content.

    3. In order to provide the Service, FundedByMe may need a license to use the User Content. You hereby grant FundedByMe a worldwide, non-exclusive, royalty-free and sub-licensable right to host, publish, distribute, stream, transmit, playback, transcode, copy, feature, display and otherwise use the User Content to perform the Service.

    4. You warrant that You have all necessary rights to display and upload the User Content and in all other ways use the User Content and to provide FundedByMe with the above license to the User Content.

    5. Should any User Content infringe the intellectual property rights of a third party, You agree to immediately remove all infringing parts of the User Content and indemnify FundedByMe all damages, costs and expenses incurred as a result of such infringement. Should FundedByMe be made aware or suspect that the User Content infringes any third party's intellectual property rights, FundedByMe shall have the right to remove from the Website all such User Content.

  13. THIRD PARTY SITES

    1. Please note that any information that You enter on a third party website (and not directly at FundedByMe.com), e.g. when making payments via MangoPay or when using Your social media accounts to log in to the Website, will be shared with the owner of the third party website and Your information may be subject to their privacy policies and terms and conditions.

    2. The Website may permit You to link to other websites on the Internet, and other websites may link to the Website. Your access to third party websites is always at Your own risk. Third party websites are beyond the control of FundedByMe and You acknowledge that FundedByMe shall not be responsible for the content, function, accuracy, legality nor any other aspect of such website. You further acknowledge and agree that FundedByMe shall not be liable for any damage or loss caused by or in connection with the use of or reliance on any content of such third party websites.

  14. PERSONAL DATA

    1. The use of the Service entails various types of personal data being processed for various purposes. Under the Swedish Personal Data Act (1998:2004), which implements the EU Directive 95/46/EC, FundedByMe will be liable for the processing of personal data for which FundedByMe decides the purposes and the means for which the personal data is processed. Personal data is information which is directly or indirectly referable to a natural living person, e.g. name and address but also possibly a person on a photo in a campaign presentation.

    2. FundedByMe may collect the following information, including personal data, about You or Your physical representatives, team members and employees etc., the "Data Subject"

      1. Registration data: When creating a user account with FundedByMe, You are required to provide the following information; name, surname, email address and country of residence. Please note that FundedByMe is unable to provide the Services unless You provide the above stated personal data. If you connect to the Service using Your Facebook or LinkedIn credentials, You authorize FundedByMe to collect Your authentication information, such as Your email address, encrypted access credentials, and other information that may be available on or through Your social media channels, including but not limited to Facebook and LinkedIn, including Your name, surname, profile picture, country of residence, hometown, email address, date of birth, gender, friends' names and profile pictures and networks. FundedByMe may store this information so that it can be used for the purposes explained in this Section 14 and may verify Your credentials with said social media channels.

      2. Campaign information: When You start a campaign You are required to provide certain information, e.g.: Your name, tax residency, age, social security number (Sw: personnummer/samordningsnummer) for Swedish Tax Residents, or passport number for foreign residents, also company registration number and names of Your team members.

      3. Payment data: Although FundedByMe does not handle the payments of investments in Equity campaigns or Loans within Loan Crowdfunding, the third party payment provider may provide FundedByMe with certain information about You such as a confirmation of fund availability and credit history. Please note that any information that You provide on a third party website or application (and not directly on FundedByMe's website), e.g. when You pay Your contribution via MangoPay, will be subject to their privacy policies and terms and conditions.

      4. Usage information: When You use the Service certain information will be collected automatically, including (i) information about Your interactions with the Service; (ii) the details of the queries You make; (iii) content You post, upload and/or contribute to the Service; (iv) technical data, which may include the URL You are coming from, Your IP address, unique device ID, network and computer performance, browser type, language and identifying information and operating system; and (v) location information. If You have connected Your account to a social media channel such as Facebook or LinkedIn, FundedByMe may receive similar information related to Your interactions with the Service from these channels. FundedByMe may use cookies and similar technologies to collect this information. You can learn more about FundedByMe's use of cookies in Section 15. FundedByMe may store this information so that it can be used for the purposes explained in Section 15.

    3. FundedByMe will process the information described above in this Section 14 for the following purposes: (a) to administrate Your account, to enable and provide the Service and integration with third party services, and to provide, personalise and improve Your experience with the Service, and to otherwise fulfil the Agreement with You; (b) to send You alerts or messages by email or otherwise, including to provide You with marketing of products and services and to inform You about updates of the Service or of the Agreement, (c) to improve and develop the Service or new services and products and to analyse Your use of the Service, (d) to ensure the technical functioning of the Service and to monitor and prevent use of the Service in breach of the Agreement, (e) to enforce the Agreement, including to protect the rights, property and safety of FundedByMe and other persons, (f) as necessary to allow financing or transfer of all or part of FundedByMe and (g) to fulfil requirements by law.

    4. FundedByMe may not be able to provide the Service in full unless the above-stated information is provided by the Data Subject.

    5. By entering into this Agreement You agree to receive direct marketing from FundedByMe or third parties, e.g. by email or otherwise. You may refuse Your personal data being used for direct marketing and You may recall Your prior consent.

    6. FundedByMe may disclose the personal data about the Data Subject to its contractors, partners, potential investors in or buyers of all or part of FundedByMe, and other Members, within and outside the EU/EEA where You may have fewer legal rights in relation to Your information, for the above stated purposes. You understand and agree that the privacy policy of third parties will govern all use of information provided under this Section. You expressly consent to Your personal data being used as described in this Section.

    7. Data Subjects are entitled by law to once per calendar year, free of charge, upon written request receive information about what personal data about them is processed by the FundedByMe. Data Subjects are also entitled to ask for the rectification, erasure or blocking of any personal data which is inaccurate. If a Data Subject wishes to exercise any of these rights, he/she should write to the address above stating his/her full name and, if applicable, his/her address, user name and the email address used for registration.

    8. You are liable to ensure that any Data Subject who are Your physical representatives, team members and employees etc., whose personal data may be processed by FundedByMe, are made aware of the contents of this Section 14 and provide necessary consents, at the latest when their personal data is provided to FundedByMe.

  15. COOKIES

    1. A cookie is a small text file that a website asks to place on Your computer, mobile phone, or other device when You visit a website. A cookie can help the website provider to recognise Your device the next time You visit the website, provide You with access to certain functions on the website and/or register Your surf patterns. There are other technologies such as pixel tags, web bugs, web storage and other similar files and technologies that can do the same thing as cookies. The term "cookies" in this Agreement refers to cookies and all such similar technologies.

    2. FundedByMe use the following cookies for following purposes:

      1. Essential operational cookies: These cookies are necessary for FundedByMe to operate the Service as You have requested. For example, they allow FundedByMe to recognise You and then provide You with the Service accordingly.

      2. Analytics cookies: FundedByMe use these cookies to analyse how the Service is accessed, used or is performing. FundedByMe use this information to maintain, operate and continually improve the Service. FundedByMe may also obtain information from our email newsletters, to learn whether You opened or forwarded the newsletter or clicked on any of the content, to analyse the effectiveness of the newsletters and ensure that You will be receiving information that You find interesting.

      3. Functional cookies: FundedByMe use these cookies to operate certain functions of the Service in line with the choices You make. These cookies mean that when You continue to use or come back to the Service, it is provided as You have previously requested, e.g. remembering Your username and how You have customised the Service.

      4. Third party cookies: FundedByMe may allow our partners to use cookies on the Service for the same purposes identified above. FundedByMe may also use service providers acting on our behalf to use cookies for the purposes identified above.

    3. Most web browsers allow You to manage Your cookie preferences. You can set Your browser to refuse cookies, or delete certain cookies. Generally You should also be able manage similar technologies by using Your browsers preferences.

    4. Please note that if You choose to block cookies, this may impair or prevent due functioning of the Service.

    5. FundedByMe uses a third party services to track activity related to the Service, e.g. by placing cookies, Google Analytics. You can install an opt-out in Your web browser (tools.google.com/dlpage/gaoptout?hl=None) if You do not want any information to be collected and used by Google Analytics.

    6. More information about the use of cookies and how to block them can be found on cookies.org, www.allaboutcookies.org, www.youronlinechoices.eu. If You have any questions or comments about FundedByMe's use of cookies, please contact [email protected]

  16. CHANGE OF TERMS AND TERMINATION

    1. FundedByMe has the right to make changes to these Terms. FundedByMe shall inform You of any such changes at the latest thirty (30) Days before a change enters into force. Such information shall be given by clear notice on the Website or by email to the email address provided by You.

    2. FundedByMe may terminate this Agreement and Your access to the Service by written notice to Your email address with immediate effect if You commit a material breach of this Agreement.

    3. Furthermore, FundedByMe may terminate the Agreement and cease to provide the Services without prior notice, if required by law or a decision by authority decision or because FundedByMe ceases to provide the Services.

  17. ASSIGNMENT

    1. You may not assign Your rights or obligations under this Agreement without FundedByMe's prior written consent.

    2. FundedByMe may assign its rights and/or obligations under this Agreement without Your prior consent.

  18. GOVERNING LAW AND DISPUTES

    1. This Agreement, the Terms and any non-contractual obligations arising out of or in connection with it shall be governed by and construed and interpreted in accordance with Swedish laws without regard to its conflict of law rules.

    2. Any dispute, controversy or claim arising out of or in connection with this Agreement or any non-contractual obligation arising out of or in connection with this Agreement, or the breach, termination or invalidity thereof, shall be finally settled by arbitration in accordance with the Rules for Expedited Arbitration of the Arbitration Institute of the Stockholm Chamber of Commerce. The seat of arbitration shall be Stockholm, and the language to be used in the arbitral proceedings shall be Swedish.

TERMS OF SERVICE BACKERS, INVESTORS AND LENDERS

Welcome to FundedByMe.com (the "Website"), which is a meeting platform for crowdfunding.

The Website is provided by FundedByMe Crowdfunding Sweden AB, with company registration number 556871-1823, having its registered address at Box 3460, 103 69 Stockholm, Sweden ("FundedByMe"). Below you will find the general terms and conditions ("Terms") for the services "Reward Crowdfunding", "Equity Crowdfunding" and “Loan Crowdfunding” (as further set forth below) provided by FundedByMe on the Website ("Services") to users of the Website ("You"/ "Your"). Please note that the Services may only be used by Members (as defined below) of FundedByMe.

By accepting the terms of service of FundedByMe You are also accepting the terms and conditions of our payment service provider MangoPay set out [LINK TO ToS Payment Service Provider].

  1. GENERAL

    1. If You are a natural person, You acknowledge that You have read and understood these Terms and that you are at least 18 years old.

    2. Subject to approval by FundedByMe and subject to Your approval of these Terms, You will become a Member of FundedByMe, when creating a user account at the Website. By giving such approval You enter into an agreement with FundedByMe on these Terms. You understand that these Terms regulated Your use of the Services, and that FundedByMe is not a party to the agreement between an Entrepreneur and the Investor, or between a Borrower and a Lender. You also approve the processing of personal data, which is made in accordance with our privacy policy, and which is part of the Agreement.

    3. If You are a consumer, You have the right of withdrawal from distance contracts in accordance with the Distance- and Off-premises Sales Act (based on Sw: Distans- och hemförsäljningslagen 2005:59). Under such act You have the right to withdraw from this Agreement within fourteen (14) Days from the date we entered into this Agreement, however not prior to You having received information regarding the right of withdrawal. This Agreement shall not in any way limit the rights that You have under the consumer protection legislation.

    4. In addition to the other terms set out in this Agreement, FundedByMe is required to provide the following information under the Distance- and Off-premises Sales Act:

    5. In conjunction with this Agreement, fees, charges and taxes may be charged by third parties. FundedByMe will not pay any such fees, charges or taxes.

      FundedByMe will not charge You any fee if You would use Your right to withdraw from this Agreement, or from an agreement that You will enter into by use of the Services.

      FundedByMe is subject to and will market the Services under the Swedish Marketing Law (2008:486).

      The Loan Agreement and any other communication within the Services will be made by use of the English language.

    6. FundedByMe’s provision of the Services does not require authorization by the Swedish Financial Services Authority (the FSA). However, FundedByMe has notified the Swedish FSA in accordance with the Obligation to Notify Certain Financial Operations Act (1996:1006). Hence, FundedByMe shall comply with the Act (2009:62) on measures against money laundering and terrorist financing by which FundedByMe is e.g. obligated to undertake certain know your customer (KYC) activities, including collecting certain personal data from You, which will be made inter alia when registering the user account with FundedByMe and before any funding of Campaigns may be pursued.

  2. DEFINITIONS

  3. “Agreement” shall mean the agreement between You and FundedByMe on the Terms;

    “Borrower” shall mean a Swedish limited liability company that is using Loan Crowdfunding;

    “Business Day” shall mean a day when banks are generally open for business in Sweden;

    “Campaign” shall mean a campaign for either Equity Crowdfunding, Loan Crowdfunding or Reward Crowdfunding which has been formed in accordance with the instructions set forth on the Website ;“Equity Crowdfunding” shall mean the service when an Entrepreneur may submit a Campaign with the purpose of raising funds from many Investors in return of equity in such Entrepreneur on the terms set out on the Website;

    “Loan Crowdfunding” shall mean the service when a Borrower may submit a Campaign with the purpose of borrowing funds from many Lenders on the terms set out on the Website, and in these Terms;

    “Days” shall mean calendar days;

    “Debt Collector” shall mean the debt collector which according to an agreement with FundedByMe shall provide debt collection services in respect of any defaulted debt under the Loan Agreements.

    “Entrepreneur” shall mean a natural person that submits a Reward based Campaign or a limited liability company, which by authorizing a representative to register a user account and has become a Member and has been submitted to the Website to seek funding by use of Equity Crowdfunding;

    “Escrow Account” shall mean an account held by the Payment Service Provider where any funds are being held before such funds shall be paid to the Borrower or repaid to the Lender;

    “Investor” shall mean a Member who is a natural person or a limited liability company, that and using Equity Crowdfunding for investing in an Entrepreneur in return for equity in such Entrepreneur;

    “Lender” shall mean a Member who is a natural person and using Loan Crowdfunding to lend money to a Borrower;

    “Loan” shall mean a loan provided by a Lender to a Borrower pursuant to a Campaign in accordance with the terms of their Loan Agreement;

    “Loan Agreement” shall mean a loan agreement between a Lender and a Borrower in which the terms for the Loan is specified;

    “Member” shall mean a natural person (which may be a legal representative of the Entrepreneur, Investor or the Borrower) who has registered a user account on the Website and been accepted as a member of FundedByMe;

    “Member” shall mean a natural person (which may be a legal representative of the Entrepreneur) who has registered a user account on the Website and been accepted as a member by FundedByMe;

    “Payment Service Provider” shall mean the payment service provider used by FundedByMe for the transfer of funds between Investors or Lenders to a Member receiving crowdfunding;

    “Pre-Collection” shall mean FundedByMe’s administration of any defaulted Loans, in accordance with the Pre-Collection document available on the Website , such as inter alia sending reminders to the Borrower via sms and letters. The Pre-Collection will continue for 60 Days calculated from the due date of the relevant payment date pursuant to the Loan Agreements.

    “Service” shall have the meaning set out in Section 4;

    “Terms” shall mean the terms and conditions for the use of the Services set forth in this document;

  4. USERNAME AND PASSWORD

    1. Some pages of the Website are open to all users and may be browsed by any visitor. However, in order to become a Member and use the Services, You have to create a user account in accordance with the instructions set forth on the Website.

    2. You may use selected social media accounts as set forth on the Website, currently Facebook or LinkedIn to sign in to the Website. Once You have signed in, You may be asked to submit additional information about yourself to help FundedByMe tailor the information shown on the Website. Should You however choose to create a new user account, the email address and password which You choose must not be harmful, abusive, racially or ethically offensive, sexually explicit, defamatory, infringing any intellectual property right or invasive of personal privacy rights. FundedByMe shall be allowed to change Your email and/or password if You are in breach of this Agreement.

    3. When the user account has been verified and approved by FundedByMe You will become a Member.

    4. You agree and warrant that You will not disclose (wilfully or by negligence) credentials of Your user account with any third party or otherwise allow any third party to use Your user account or Your access to the Service. If You have reason to believe that a third party has gained access to Your user account, You must immediately inform FundedByMe.

    5. FundedByMe will require You to provide identification of Yourself when registering at the Website or accepting Loan Agreements or other documents that You may become a party to and which may be required when using the Services. You do however understand and agree that some agreements may be entered into between You and FundedByMe or between You and another Member, such as a Borrower by way of providing Your accept directly at the Website, subject however to that You are logged in to Your user account.

  5. THE SERVICES

    1. FundedByMe provides a meeting platform for crowdfunding on the Website. Members may, by use of and in accordance with the prerequisites set forth on the Website, submit their Campaigns to FundedByMe, who decides which Campaigns may seek crowdfunding from other Members. Any funding shall be made in accordance with these Terms and as set forth on the Website .

    2. The Service consists of three types of crowdfunding:

      1. Reward Crowdfunding, which is a type of funding where Members may seek financial donations from other Members, in exchange for a reward,

      2. Equity Crowdfunding, where Entrepreneurs may seek funding from Investors in return of equity ownership in the Entrepreneurs at pre-defined terms set by such company, and

      3. Loan Crowdfunding, where Borrowers may borrow money from many Lenders on terms agreed between the Borrower and the Lender and as further set out in the Loan Agreement.

  6. Reward CROWDFUNDING

    1. Backers may fund Reward Campaigns that are listed on the Website as open for fundraising. Please read carefully the information provided regarding such campaign, note that all funding of a Reward Campaign may be lost and that a Reward Campaign may never be realized. Should You decide to fund a Reward Campaign, You agree that such decision is solely Yours, and that You are solely responsible for making such decision. You further agree that FundedByMe shall never be liable for any Reward Campaign's non- repayment or non-compliance of the campaign as such.

  7. EQUITY CROWDFUNDING

    1. General

      1. During Campaign for Equity Crowdfunding, an Investor may report interest to participate in the fundraising by specifying the amount such Investor would like to invest. Any report of interest by an Investor to invest (including submission of a specified amount) constitutes a non-binding offer to invest. Such offer may thereafter be accepted or rejected by the Entrepreneur.

      2. The Investor agrees that FundedByMe is only a meeting platform for Members (i.e. Entrepreneurs seeking funds for their Companies and Investors interested in funding Companies) and that FundedByMe does not provide any advice or take any part in the investment round. FundedByMe does not at any time set the prerequisites for any Campaign. All such terms, e.g. the number of investors, the number of shares, the valuation of the company and investment amount are always set by the Entrepreneur.

      3. Furthermore, the Investor agrees and understands that the investment agreement is between the Entrepreneur and the Investor. Any decision to invest in a Company being subject to an Equity Campaign is solely the decision of such Investor. FundedByMe shall never be liable for any Investor’s non-payment of any investment amount, and FundedByMe shall never be liable for any fundraising company's non-issuance of shares.

      4. Any and all investment in an Entrepreneur within Equity Crowdfunding is always made without the involvement of FundedByMe, and thus made only between an Investor and the Entrepreneur.

    2. Investing in Campaigns for Equity Crowdfunding

      1. An Investor may request more extensive information regarding the Entrepreneur during the Campaign. Such request shall be submitted to the Entrepreneur. Investors may sign up for investments in the Entrepreneur during the Campaign at the terms set by the Entrepreneur and as displayed on the Website.

      2. Should the Investor's investment offer be accepted by the Entrepreneur, the Investor shall sign up for the investment electronically. The Investor may however re-call an investment offer until the subscription list for the share issue has been signed. After closure of the campaign, the Entrepreneur shall provide all documentation necessary for completing the investment to the Investor, and the Investor shall pay the shares in accordance with Section 9 below.

  8. Loan Crowdfunding

    1. Loan Crowdfunding Process

      1. Subscription

      2. Borrowers who wish to borrow money may submit Campaign requests to FundedByMe.

      3. When a Campaign request has been approved by FundedByMe the Campaign will be launched on the Website and opened for Members to subscribe. The subscription period for a Campaign is 45 Days. However, should the Campaign be fully subscribed earlier, or should the number of subscribing Lenders reach 1000 persons, the Campaign will be closed and the subscription period will end even if 45 Days have not passed. The Campaign will be considered successful provided that at least eighty (80) percent of the requested loan amount has been subscribed for. A Borrower must never participate as a Lender in such Borrower’s Campaign.

      4. FundedByMe will, by use of credit scoring companies, provide an indicative risk rating of the Borrower. It shall be noted that such risk rating shall only be of informative character and not be seen as a recommendation by FundedByMe or financial advice by FundedByMe. You have to make your own assessment of the Borrower, the Borrower’s business and the risk connected with the Loan. You are encouraged to use other information than only the information provided by the Borrower on the Website. You may e.g. request information directly from the Borrower.

      5. The Borrower may be requested to provide a guarantee from a third party covering the Borrower’s payment obligations under all Loan Agreements entered into pursuant to a Campaign. If the Borrower has submitted a guarantee, then such guarantee will be visible on the Website. FundedByMe does not assume any liability for the assessment of such guarantee. The guarantee, should never be enforced directly from the Lender, without a written consensus of FundedByMe or the Debt Collection Agency.

      6. You may subscribe to a Campaign during its subscription period by completing the registration form available on the Campaign’s Website, inter alia, specifying the amount You like to lend to the Borrower.

      7. All Loans will be provided in Euro. Your Loan shall be at least EUR 50 and You may not lend more than EUR 20,000 per each transaction. Please note that providing a Loan in Euro may also include a currency risk. FundedByMe does not assume any liability for such risks.

      8. Your subscription to a Campaign constitutes a binding offer to lend the specified amount to the Borrower pursuant to the terms of the Campaign. You will always, however, be entitled to cancel the subscription within 14 Days in accordance with the Distance- and Off-premises Sales Act (Sw: Distans- och hemförsäljningslagen 2005:59).

      9. During the registration of Your subscription You will be requested to enter into in payment service agreement with the Payment Service Provider and to accept an immediate transfer of the subscribed loan amount from the card You have registered with the Payment Service Provider to the Campaign’s escrow account. The escrow account is provided by the Payment Service Provider.

      10. The Loan will be not be transferred from the Campaign’s escrow account to the Borrower until the subscription period has ended and the conditions precedent for the Campaign have been satisfied. Should the conditions of the Campaign not have been satisfied, e.g. should the Campaign not reach a 80 percent subscription during the subscription period, the Campaign will be closed and the funds transferred by You to the escrow account will be retransferred to Your card, as further set forth in Your payment service agreement with the Payment Service Provider.

      11. The funds You have transferred to the Campaign’s escrow account will not accrue any interest during the time when the funds are deposited in the Campaign’s escrow account.

      12. FundedByMe has the right to, at any time and at its convenience, cancel, interrupt or suspend any Campaign, subject to prior notice. Such cancellation, suspension or interruption may be made e.g. due to the Borrower’s or the Campaign's violation of applicable legislation or any terms applicable to the Website. The amount transferred from the Lender to the escrow account of the Payment Service Provider will in such case be retransferred to such Lender.

      13. Loan Agreement

      14. Provided that the campaign has been successfully closed FundedByMe will enter into a Loan Agreement with the Borrower on Your behalf and in Your name when the subscription period has ended.

      15. The terms of the Loan Agreement will be available on the Campaign Website and You will also receive a draft of the Loan Agreement before it is entered into by FundedBeMe.

      16. The Loan Agreement becomes binding when it is entered into, but You will always, however, be entitled to cancel the agreement within 14 Days from execution in accordance with the Distance- and Off-premises Sales Act (Sw: Distans- och hemförsäljningslagen 2005:59) (“Respite Period”).

      17. On the first Business Day following the Respite Period, FundedByMe will instruct the Payment Service Provider to transfer the Loan from the Campaign’s Escrow Account to the Borrower. From such date, the Loan Agreement will enter into force and the Loan will accrue Interest.

      18. The Loan shall be repaid in equal quarterly instalments in accordance with the terms of the Loan Agreements, starting with the date in which the Loan Agreement comes into paper. The quarterly installments are being on the day in which the loan agreement came into power, not calendar quarters. The Payment Service Provider will receive payments from the Borrower on Your behalf and the Payment Service Provider will forward the payments to the account You have designated pursuant to Your payment service agreement with the Payment Service Provider.

      19. In case you are a non-SEPA resident each decision to payout your funding to your bank account, will connected with a service fee of 2,50 Euro. Your cash-out services will be collected in your escrow account and visible on your dashboard, so that the decision, when you can payout your funds can be done manually.

      20. Defaulted loans

      21. In the event the Borrower should fail to pay any principal and/or interest when due, FundedByMe will provide Pre-Collection free of charge for the Lenders in accordance with the Pre-Collection document available on the Website. The Pre- Collection will, inter alia, include sending reminders via sms and letters to the Borrower. Should the Borrower, after receipt of such reminders, still fail to honour the loan FundedByMe will during the Pre-Collection phase also notify the guarantor and request payment (provided that the Campaign has been secured by a guarantee).

      22. FundedByMe has entered into a frame agreement with a Debt Collector for the procurement of debt collection services (the “Debt Collector Agreement” or “DCA”) in respect of all Loan Campaigns. Should any due debt remain unpaid after 60 Days, the Debt Collector will be instructed to collect the debt in accordance with the terms of the DCA. The services of the Debt Collector include, inter alia, sending debt collection letters, enforcing the guarantee, filing injunction to pay requests and execution requests at the Swedish Enforcement Authority, and, if the debt has been disputed, to commence and act as counsel in court proceedings. The services provided by the Debt Collector are provided on a success fee basis and You will not be requested to make any further payments for such services, unless the debt collection has been successful in which case the fees to the Debt Collector will be deducted before the collected amount is transferred to You. Should a debt have been disputed by the Borrower, the Debt Collector may reject the assignment in which case he will provide a written explanation as to why he does not consider it prudent to pursue payment of the debt any further. A disputed debt can only be pursued through litigation. The debt collection fees and the other terms of the DCA are available on our Website and here.

      23. By accepting these terms of use and subscribing to a Campaign You authorize FundedByMe and the Debt Collector to agree on payment plans, delay of payments (respite), settlement (in case of dispute) or other solutions with the Borrower, or guarantor, however, only to the extent such a solution, in FundedByMe’s or the Debt Collector’s opinion, is deemed to be a favourable solution for You considering the principal and interest likely to be repaid by the Borrower.

      24. In order to transfer the claim to the Debt Collector in the most cost efficient way You will transfer to FundedByMe the Loan for the purpose to collect such debt from the Borrower and/or the guarantor in the event the Borrower and/or the guarantor should fail to pay the principal and/or interest within 60 days from its due date pursuant to the Loan Agreement, whereafter FundedByMe shall be entitled to pursue such claims on Your behalf in its own name (i.e. to act as “inkassomandatarie” in respect of such claims). As long as the abovementioned right to collect all outstanding debt is transferred to FundedByMe, You will not be entitled to pursue Your claim Yourself, but only through FundedByMe.

      25. Should the Debt Collector cancel its instruction in respect of Your loan agreement, the right to collect all outstanding debt from the Borrower and (if applicable) the guarantor will be re-transferred to You and FundedByMe’s will no longer be authorized to act on Your behalf in respect of any debt collection or other process with the purpose to retrieve payment from the Borrower. FundedByMe will thereby no longer manage any debt collection process for You or on Your behalf.

    2. Authorizations and power of attorneys

    3. By accepting these Terms and subscribing to a Loan Crowdfunding Campaign You authorize FundedByMe or whom it may instruct (in respect of such Campaign) to:

      1. enter into a Loan Agreement with the Borrower, on Your behalf and in Your name, on the terms available on the Campaign’s Website and provided to You prior to any execution of this power of attorney;

      2. instruct the Payment Service Provider to transfer the loan amount from the Escrow Account to the Borrower’s account, in accordance with section 2.2 of the Loan Agreement, on the Settlement Date of the Loan Agreement (as defined in the Loan Agreement) and to otherwise take such actions necessary in order to ensure the successful execution of such transfer, and to instruct the Payment Service Provider to deduct the fee, as set out in section 9.1 below, from the repayment of any portion of the Loan (principal and interest) from the Borrower to the Lender via the Escrow Account;

      3. to handle all matters related to the Borrower’s payment of principal and interest under the Loan Agreement to the relevant Escrow Account, such as, inter alia, sending invoices and payment reminders to the Borrower;

      4. to collect all current and future outstanding debt pursuant to the Loan Agreement from the Borrower and/or the guarantor in the event the Borrower should fail to pay the principal and/or interest when due, including but not limited to accelerate the Loan under the Loan Agreement and to give the Debt Collector instructions to collect any due outstanding parts of the Loan in accordance with the terms of the DCA; and

      5. to agree on payment plans, delay of payments (respite), settlement (in case of a disputed claim) or other solutions with the Borrower, or guarantor, however, only to the extent such a solution, in FundedByMe’s or the Debt Collector’s opinion, is deemed to be a favourable solution for You considering the principal and interest likely to be repaid by the Borrower.

      6. In the event the Borrower should fail to pay any due principal and/or interest for a period of 60 days or more the debt will be transferred to the Debt Collector in accordance with this section 7 above. In such case FundedByMe will act as Inkassomandatarie, i.e. act on your behalf in its own name, wherefore You hereby agree to automatically upon FundedByMe’s notice thereof, transfer to FundedByMe the outstanding unpaid Loan for the purpose to collect such amounts from the Borrower and/or the guarantor. Should the Debt Collector cancel its instruction in respect of Your Loan, the Loan will immediately be re-transferred to You.

  9. RULES OF CONDUCT

    1. You agree and warrant that You will not publish, post, transfer, distribute or upload any content or information to the Website and/or the Service which:

      1. is false, misleading, untruthful or inaccurate,

      2. promotes or encourages illegal activity,

      3. is racially or ethnically offensive and/or constitutes agitation against a minority (such as a national or ethnic group),

      4. constitutes defamation, contains pornography or is in any other way sexually explicit,

      5. attacks sexual orientation or religion or is discriminating in any other way,

      6. is in any way harmful, abusive, offensive or illegal or which infringes the rights of any third party (such as including but not limited to copyright and trademarks).

    2. You agree and warrant that You will not (and will not permit any third party to):

      • use the Website and/or the Service to transfer or upload files or other content that contains viruses, corrupted data, malicious software or other programs that may harm computers or other property,

      • use the Website and/or the Service to defame, harass, discriminate or threaten another person/company or in any other way violate rights,

      • distribute or reproduce all or any part of the Website or the Service,

      • alter, disassemble, decompile or reverse engineer any part of the Website or the Service, unless explicitly permitted by mandatory law,

      • use software that reads data on the Website or the Service automatically,

      • use the Website and/or the Service to request or encourage other users to breach any provision of this Agreement,

      • abuse the Website or the Service or use it for any unlawful or unauthorized purpose (which includes transmitting any computer viruses through the Website, or using the Website and/or the Service in a manner which violates or infringes the rights of anyone else).

    3. FundedByMe reserves the right to immediately remove any content from the Website that FundedByMe in its sole discretion deems is in breach of the Agreement, any other terms or conditions posted on the Website or is otherwise harmful for FundedByMe or its Members.

    4. The Service may enable You to send and/or receive messages to or from other Members. Such messages are not reviewed by FundedByMe, hence You are personally responsible for any messages You send through the Service and You agree and warrant that You will not use the possibility to send messages in breach of the Agreement including to harass or threaten other Members, including but not limited to repeatedly sending unwanted messages.

  10. FEES AND PAYMENT TERMS

    1. General

    2. At present, FundedByMe does not charge any fees when You create a user account.

      FundedByMe does not charge Investors or Backers any fee. With regards to Loan Crowdfunding, the Lender shall pay FundedByMe a fee amounting to one (1) percent of each repayment of any portion of the Loan and payment of interest (principal and interest) by the Borrower to the Lender, or as otherwise set out on the Website .

      Such fee shall be paid by allowing the Payment Service Provider to deduct an amount corresponding to the fee, from the amount transferred by the Payment Service Provider from the Escrow Account to the Lender.

      You agree to make the payment of an investment in the currency stated on the Website when committing to the funding. Any payments and repayments within Loan Crowdfunding shall be in Euro. Payments shall not be made to FundedByMe at any time and FundedByMe shall not take possession of any funds.

      You are responsible for paying any applicable taxes in relation to the funding. FundedByMe shall have no responsibility to pay any taxes regarding Your funding of Equity Campaigns or the Loans within Loan Crowdfunding. You undertake to always keep your tax residency registered at FundedByMe up-to-date and accurate. Should You change Your tax residency, You shall without undue delay inform FundedByMe of such change. Your tax residency may have implications on the Borrower’s responsibilities.

      If an Lender has declared, that his or her tax residency is Sweden, the capital gain tax will be withheld for Lender by the entrepreneur and paid per annum to the Swedish Tax Authorities. You might find more information about the taxes here

    3. Payment to Campaigns for Reward Crowdfunding

    4. You shall make all payments relating to a Reward Campaign by use of MangoPay, which is the current third party payment service provider handling the funding, or another payment service provider provided from the Website. You agree to pay any fees for use of the third party payment service as may be charged by such payment service provider .

    5. Payment to Campaigns for Equity Crowdfunding

    6. Should You commit to equity as set forth in Section 5, such commitment is binding once the shares have been subscribed for and You shall pay the equity as agreed between You and the Entrepreneur providing the Campaign for Equity Crowdfunding. Such Company will, after closure of the Campaign, issue a subscription note and provide You with payment instructions.

    7. Payment to Campaigns for Loan Crowdfunding

    8. Any Loan shall be paid by the Lender by use of the Payment Service Provider as set out on the Website and in accordance with instructions set out on the Website. Furthermore, any repayment by the Borrower to the Lender shall be made by use of the Payment Service Provider as set out on the Website .

  11. YOUR LIABILITY AND INDEMNIFICATION

    1. Backers, Investors and Lenders

    2. You are aware that FundedByMe does not offer any financial advice or any other advice on investments, loans or the process of any financing rounds, Loan Crowdfunding or equity crowdfunding. You are solely liable for the use of the Services and any decision to invest in an Entrepreneur or lend money to a Borrower. You are aware that the companies raising money within Equity Crowdfunding and Loan Crowdfunding are often in a very early stage and are seeking financing to grow their business. You warrant that You are aware that investing in an Entrepreneur or lending money to a Borrower is connected with high risk and that all or parts of the investments may be lost. You further agree that investing in an Entrepreneur or lending money to a Borrower is solely Your decision. You agree that FundedByMe shall not be liable for any of Your investments in Entrepreneurs or loans to a Borrower.

      You shall be liable to FundedByMe for any damages caused to FundedByMe or any third party due to Your breach of this Agreement, including but not limited to the use of the Services in breach of this Agreement. Furthermore, You agree to indemnify FundedByMe in relation to any claims, costs (including reasonable legal costs) damages, expenses, liabilities and losses incurred by FundedByMe arising in any manner in relation to Your breach of this Agreement.

  12. FUNDEDBYME'S LIABILITY

    1. FundedByMe does not grant any warranties, express or implied or otherwise, as to the accessibility, quality, suitability or accuracy of the Website. There are situations when the Services will not be accessible, including but not limited to necessary maintenance and circumstances outside the control of FundedByMe such as net access failure, for which FundedByMe shall never be liable.

    2. All investments are made by agreement between the Investor and the Entrepreneur. All Loan Agreements are entered into between the Lender and the Borrower. All information displayed on the Website is provided by third parties and displayed by the Entrepreneur or the Borrower. FundedByMe does not at any time take possession of funds, provide any financial advice on investments, loans or donations and shall therefore not be liable for any investment in an Entrepreneur or loans to a Borrower, or the information provided by any one of them. FundedByMe does not at any time warrant the fulfilment of any Borrower’s or other Member’s payment undertaking and shall never be liable for the fulfilment of any Backer’s, Investor’s or Lender’s decision to invest by use of any of the Services.

    3. Notwithstanding the above in Section 11.2, and to the extent permitted by applicable law, FundedByMe shall not be liable to You or any third party for any direct damages, indirect damages or any other damages of any kind including but not limited to loss of profit, loss of income, loss of revenue, business interruption and goodwill losses arising out of or in connection with the Agreement or the use or inability to use the Service or the Website.

    4. To the extent FundedByMe is liable to You for any damages, FundedByMe's total and aggregate liability to You (whether for negligence, breach of contract or any other cause of action shall be limited to EUR 1,000. FundedByMe shall not be liable to You for any claims made by third parties towards You.

    5. FundedByMe is not liable for any losses incurred by You as a result of FundedByMe’s performance of its duties and functions as set forth in this Agreement (such as inter alia acting as Your agent pursuant to clause 7), except if such losses have incurred due to FundedByMe’s gross negligence or wilful misconduct, in which case the limitations set out in sections 11.3 and 11.4 shall apply to the extent permitted by applicable law.

  13. INTELLECTUAL PROPERTY RIGHTS

    1. You agree that the Website and Services contain content specifically provided by FundedByMe or third parties and that such content may contain intellectual property rights. You agree to respect all intellectual property rights, including but not limited to copyright, trademarks, trade names (whether registered or not) contained or displayed on the Website or which You gain access to in connection with the Service. You may only use the content of the Website for the use of the Service and You must not use the content of the Website in breach of applicable law or the Agreement. You may use such intellectual property rights only for the purpose of browsing the Website and to use the Service. FundedByMe does not grant You any other license to use said intellectual property rights except as expressly set out in this Agreement.

    2. You agree that the content published on the Website may belong to third parties (e.g. Campaigns which have submitted information regarding the fundraising), and that FundedByMe does not have control over such content. Therefore, You agree that FundedByMe shall not be held responsible for any such content provided by third parties and displayed on or contained in the Website or the Service.

  14. THIRD PARTY SITES

    1. Please note that any information that You enter on a third party website (and not directly at FundedByMe.com), e.g. when making payments or transferring money by use of the Payment Service Provider or when using Your social media accounts to log in to the Website, will be shared with the owner of the third party website and Your information may be subject to their privacy policies and terms and conditions.

    2. The Website may permit You to link to other websites on the Internet, and other websites may link to the Website. Your access to third party websites is always at Your own risk. Third party websites are beyond the control of FundedByMe and You acknowledge that FundedByMe shall not be responsible for the content, function, accuracy, legality nor any other aspect of such website. You further acknowledge and agree that FundedByMe shall not be liable for any damage or loss caused by or in connection with the use of or reliance on any content of such third party websites.

  15. PERSONAL DATA

    1. The use of the Service entails various types of personal data being processed for various purposes. Under the Swedish Personal Data Act (1998:2004), which implements the EU Directive 95/46/EC, FundedByMe will be liable for the processing of personal data for which FundedByMe decides the purposes and the means for which the personal data is processed. Personal data is information which is directly or indirectly referable to a natural living person, e.g. name and address but also possibly a person on a photo in a campaign presentation.

    2. FundedByMe may collect the following information, including personal data, about You, the "Data Subject";

      1. Registration and user data: When creating a user account with FundedByMe and when using the Services, You are required to provide the following information; name, surname, email address, date of birth, country of residence and nationality.. Please note that FundedByMe is unable to provide the Services unless You provide the above stated personal data. If You connect to the Service using Your Facebook or LinkedIn credentials, You authorize FundedByMe to collect Your authentication information, such as Your username, encrypted access credentials, and other information that may be available on or through Your social media channels, including but not limited to Facebook or LinkedIn including Your name, surname, profile picture, country of residence, hometown, email address, date of birth, gender, friends' names and profile pictures and networks. FundedByMe may store this information so that it can be used for the purposes explained in Section 14.6 and may verify Your credentials with said social media channels.

      2. Payment data: Although FundedByMe does not handle the payments of investments in Equity Crowdfunding, Loans or backings within Reward Crowdfunding, the Payment Service Provider may provide FundedByMe with certain information about You such as a confirmation of fund availability and credit history. Please note that You will be required to provide other information to the Payment Service Provider in order to verify Your identity, and that any information that You provide to such third party, e.g. by a third party website or application, e.g. when You pay Your contribution via the Payment Service Provider, will be subject to their privacy policies and terms and conditions.

      3. Usage information: When You use the Service certain information will be collected automatically, including (i) information about Your interactions with the Service; (ii) the details of the queries You make; (iii) content You post, upload and/or contribute to the Service; (iv) technical data, which may include the URL You are coming from, Your IP address, unique device ID, network and computer performance, browser type, language and identifying information and operating system; and (v) location information. If You have connected Your account to a social media channel such as Facebook, LinkedIn or FundedByMe may receive similar information related to Your interactions with the Service from these channels. FundedByMe may use cookies and similar technologies to collect this information. You can learn more about FundedByMe's use of cookies in Section 15. FundedByMe may store this information so that it can be used for the purposes explained in Section 14.2.

    3. FundedByMe will process the information described in Section 14.2 above for the following purposes: (a) to administrate Your account, to enable and provide the Service and integration with third party services, and to provide, personalize and improve Your experience with the Service, and to otherwise fulfil the Agreement with You (including taking such actions as set out in section 7 above); (b) to send You alerts or messages by email or otherwise, including to provide You with marketing of products and services and to inform You about updates of the Service or of the Agreement, (c) to improve and develop the Service or new services and products and to analyze Your use of the Service, (d) to ensure the technical functioning of the Service and to monitor and prevent use of the Service in breach of the Agreement, (e) to enforce the Agreement, including to protect the rights, property and safety of FundedByMe and other persons, (f) as necessary to allow financing or transfer of all or part of FundedByMe and (g) to fulfil requirements by law.

    4. FundedByMe may not be able to provide the Service in full unless the above-stated information is provided by the Data Subject.

    5. By entering into this Agreement You agree to receive direct marketing from FundedByMe or third parties, e.g. by email or otherwise. You may refuse Your personal data being used for direct marketing and You may recall Your prior consent.

    6. FundedByMe may disclose the personal data about the Data Subject to its contractors, partners, potential investors in or buyers of all or part of FundedByMe, and other Members, within and outside the EU/EEA where You may have fewer legal rights in relation to Your information, for the above stated purposes. You understand and agree that the privacy policy of third parties will govern all use of information provided under this Section. You expressly consent to Your personal data being used as described in this Section.

    7. Data Subjects are entitled by law to once per calendar year, free of charge, upon written request receive information about what personal data about them is processed by the FundedByMe. Data Subjects are also entitled to ask for the rectification, erasure or blocking of any personal data which is inaccurate. If a Data Subject wishes to exercise any of these rights, he/she should write to the address above stating his/her full name and, if applicable, his/her address, user name and the email address used for registration.

  16. COOKIES

    1. A cookie is a small text file that a website asks to place on Your computer, mobile phone, or other device when You visit a website. A cookie can help the website provider to recognize Your device the next time You visit the website, provide You with access to certain functions on the website and/or register Your surf patterns. There are other technologies such as pixel tags, web bugs, web storage and other similar files and technologies that can do the same thing as cookies. The term "cookies" in this Agreement refers to cookies and all such similar technologies.

    2. FundedByMe use the following cookies for following purposes:

      1. Essential operational cookies: These cookies are necessary for FundedByMe to operate the Service as You have requested. For example, they allow FundedByMe to recognize You and then provide You with the Service accordingly.

      2. Analytics cookies: FundedByMe use these cookies to analyze how the Service is accessed, used or is performing. FundedByMe use this information to maintain, operate and continually improve the Service. FundedByMe may also obtain information from our email newsletters, to learn whether You opened or forwarded the newsletter or clicked on any of the content, to analyze the effectiveness of the newsletters and ensure that You will be receiving information that You find interesting.

      3. Functional cookies: FundedByMe use these cookies to operate certain functions of the Service in line with the choices You make. These cookies mean that when You continue to use or come back to the Service, it is provided as You have previously requested, e.g. remembering Your username and how You have customized the Service.

      4. Third party cookies: FundedByMe may allow our partners to use cookies on the Service for the same purposes identified above. FundedByMe may also use service providers acting on our behalf to use cookies for the purposes identified above.

    3. Most web browsers allow You to manage Your cookie preferences. You can set Your browser to refuse cookies, or delete certain cookies. Generally You should also be able manage similar technologies by using Your browsers preferences.

    4. Please note that if You choose to block cookies, this may impair or prevent due functioning of the Service.

    5. FundedByMe uses a third party services to track activity related to the Service, e.g. by placing cookies, Google Analytics. You can install an opt-out in Your web browser (tools.google.com/dlpage/gaoptout?hl=None) if You do not want any information to be collected and used by Google Analytics.

    6. More information about the use of cookies and how to block them can be found on cookies.org", www.allaboutcookies.org, www.youronlinechoices.eu. If You have any questions or comments about FundedByMe's use of cookies, please contact [email protected]

  17. CHANGE OF TERMS AND TERMINATION

    1. FundedByMe has the right to make changes to these Terms. FundedByMe shall inform You of any such changes at the latest thirty (30) Days before a change enters into force. Such information shall be given by clear notice on the Website or by email to the email address provided by You.

    2. FundedByMe may terminate this Agreement and Your access to the Service by written notice to Your email address with immediate effect if You commit a material breach of this Agreement.

    3. Furthermore, FundedByMe may terminate the Agreement and cease to provide the Services without prior notice, if required by law or a decision by authority decision or because FundedByMe ceases to provide the Services.

  18. ASSIGNMENT

    1. You may not assign Your rights or obligations under this Agreement without FundedByMe's prior written consent.

    2. FundedByMe may assign its rights and/or obligations under this Agreement without Your prior consent.

  19. GOVERNING LAW AND DISPUTES

    1. This Agreement, the Terms and any non-contractual obligations arising out of or in connection with it shall be governed by and construed and interpreted in accordance with Swedish laws without regard to its conflict of law rules.

    2. Any dispute, controversy or claim arising out of or in connection with this Agreement or any non-contractual obligation arising out of or in connection with this Agreement, or the breach, termination or invalidity thereof, shall be finally settled by arbitration in accordance with the Rules for Expedited Arbitration of the Arbitration Institute of the Stockholm Chamber of Commerce. The seat of arbitration shall be Stockholm, and the language to be used in the arbitral proceedings shall be Swedish.