We can, and do, regularly make changes to these Terms. We will post any amended Terms to the Site. If you continue to access and use the Site, your actions will indicate to us that you agree to be bound by those amended Terms.
Last Update Effective Date 22.01.2019
GENERAL INFORMATION ABOUT US
www.fundedbyme.ae is a Site owned and operated by FundedByMe MENA Limited (“FBM”, "we", "us", "our"). FBM is a company incorporated in the Dubai International Financial Centre (“DIFC”) in the United Arab Emirates ("UAE") and is authorised and regulated by the Dubai Financial Services Authority (“DFSA”) to operate a crowdfunding platform.
FBM reserves the right from time to time to partner with and/or outsource certain business activities to third parties.
FMB has partnered with FundedByMe Crowdfunding Sweden AB (publ) to provide ongoing operational and technical support for the Site.
FMB has partnered with Vistra Middle East ("VME") for the provision of compliance support. In particular, VME will perform due diligence when onboarding Fundraisers, Investors and Registered Users to the Site, including but not limited to:
- reviewing reports of fraudulent activity;
- supervising third-party providers involved in client on-boarding and compliance activities on behalf of FBM;
- applying anti-money laundering and other compliance controls; and
- assisting with business continuity and disaster recovery.
INFORMATION ABOUT THE SITE
The Site is an investment-based (equity) crowdfunding platform that enables small and medium size enterprises ("SME body corporates") in start-up and growth stages to raise capital (the "Fundraisers") by issuing shares to individual and professional investors through participation and investment in crowdfunding projects (a "Campaign") in return for possible value or a potential profit from business operations (the "Investors").
As with any form of investment, the value or profit made from a Campaign displayed on the Site may go down as well as up.
ACCESSING THE SITE
Access to the Site is permitted on a temporary basis and may be withdrawn or suspended at any time, without notice. Whilst we will make every effort to limit the amount of time the Site is unavailable, we may at times need to suspend access to the Site or restrict access to Users in order to undertake essential maintenance. FBM is not liable to Users if, for any reason, the Site is unavailable at any time.
FBM may restrict Users access to all or part of the Site from time to time, and/or may request User registration to access restricted or tailored information on the Site. Users will be asked to register and login as either a Fundraiser or as an Investor (together referred to as a "Registered User").
FBM reserves the right to apply eligibility criteria to become a Registered User. Applications to become a Registered User are subject to identification and approval processes and any such application may be rejected at the sole discretion of FBM.
By registering to use the Site, Registered Users agree not to disclose (wilfully or by negligence) his/her login credentials with any third party, or otherwise allow a third party to use the account. Registered Users are not permitted to transfer or sell his/her login credentials to any third party.
If a Registered User has reason to believe that a third party has gained access to his/her account, then he/she must immediately inform FBM by contacting [email protected].
CONDUCT WHEN USING THE SITE
All investments are made by agreement between the Investor and the Fundraiser. FBM does not at any time take possession of funds relating to a Campaign.
When accessing the Site, Users agree not to:
- use the Site to transfer or upload files or other content that contains viruses, corrupted data, malicious software or other programmes that may harm computers or other property;
- use the Site to defame, harass, discriminate or threaten another person/company;
- distribute or reproduce all or any part of the Site for commercial gain;
- alter, disassemble, decompile or reverse engineer any part of the Site, unless explicitly permitted by FBM or mandated by law;
- use software that reads data on the Site automatically;
- use the Site to request or encourage other Users to breach any provision of these Terms;
- abuse the Site or use it for any unlawful or unauthorised purpose (which includes transmitting any computer viruses through the Site or using the Site in a manner which violates or infringes the rights of anyone else).
USE OF YOUR INFORMATION
In particular, FBM agrees to process personal data in accordance with the instructions received from Registered Users, and/or to the extent otherwise permitted under the applicable data protection law in the UAE. In particular, FBM will collect and process the following information including, but not limited to:
- Usage information: when Users access and use the Site, certain information will be collected automatically, including (i) information about the User's interactions with the Site; (ii) details of any queries the User may make; (iii) content the User may post, upload and/or contribute to the Site; (iv) technical data, which may include the User's URL, IP address, unique device ID, network and computer performance, browser type, language and identifying information and operating system; and (v) location information.
- Registration data: when creating a Registered User account with FBM, the User must provide the following information: name, email address and country of residence. We may also request information from third parties to assist us in our 'know-your-customer' identification and anti-money laundering obligations. For example, this may include obtaining additional information regarding source of wealth.
- Campaign information: when a Registered User participates in a Campaign, the Registered User is required to provide the following information: name, age, resident ID, passport, company registration number and names of the company team members who will be authorised to manage the Campaign on behalf of the company.
RELIANCE ON INFORMATION ON THE SITE
Information on the Site does not in any way constitutive a recommendation or advice that an investment is suitable or advisable for any User. The content and material available on the Site, at any given time, is provided for information purposes only and should not be considered as an offer or invitation to buy or sell any form of security; shares or otherwise.
FBM is not responsible for the accuracy of information posted on the Site relating to a specific Campaign, or content posted by third parties including, but not limited to content posted by Registered Users in chat forums, Campaign pitch documents and/or pitch videos uploaded to the Site.
The information on the Site is not intended to be relied upon when making investment decisions, and FBM are not liable or responsible for any reliance placed on such information by a User. Users should seek independent advice from a financial adviser before making any investment decisions.
By agreeing to these Terms, Users agree to compensate and hold FBM and its affiliates, employees, and licensors harmless from any claim or demand (including reasonable legal fees) made by a third party, due to or arising out of the way a User may access and use the services contemplated on the Site.
FEES AND PAYMENT TERMS
The information on the Site and any services provided by FBM does not constitute a financial guarantee or responsibility of any kind on the part of FBM to fulfil a Registered Users' payment obligation to another Registered User.
Investor payments made in connection with a Campaign shall be paid into a separate client money account held by an independent payment service provider, Global Custodial Services, company registration number 8321940 ("GCS").
If a Campaign is deemed successful (i.e. it reaches the prescribed funding target during the set period), then funds will be released to the Fundraiser after deduction of applicable FBM commission/fees and upon FBM's satisfaction that all necessary steps have been completed. If a Campaign is deemed unsuccessful (i.e. the funding target is not reached during the set period), then funds will be returned to the Investor. Applicable third-party transaction fees not reimbursable.
GCS is a UK registered company authorised and regulated by the Financial Conduct Authority.
Registered Users are responsible for any fees or charges which may be applicable as a result of using a particular payment method.
SPECIFIC INFORMATION FOR INVESTORS / FUNDRAISERS
Users electing to become an Investor and/or Fundraiser will be required to sign and comply with our Investor Client Agreement / Fundraiser Client Agreement, as applicable. These Terms should be read alongside those agreements and will apply in addition to those terms. The Investor Client Agreement / Fundraiser Client Agreement can be accessed here: [Insert link to page on website containing all of the relevant agreements].
All Investors will by default be on-boarded onto the Site as a “Retail Client” as defined by the DFSA. To qualify as a “Professional Client” an Investor must state in writing to FBM that they wish to be treated as a professional client, and they must satisfy the applicable DFSA classification rules. Further details regarding the eligibility criteria can be found in the Investor Client Agreement.
FBM Shareholders, directors and staff members are not permitted to participate in any Campaign or transaction through the platform.
The Site may from time to time permit Users to link to other websites on the internet, and other websites may link to the Site. Third party websites are beyond the control of FBM. FBM shall not be responsible for the content, function, accuracy, legality nor any other aspect of such website. Users access to third party websites is always done at the Users own risk.
INTELLECTUAL PROPERTY RIGHTS
FBM reserves the right to immediately remove any content from the Site that FBM in its sole discretion deems is in breach of these Terms, applicable law, or is otherwise harmful to FBM or its Users.
Users agree that the Site contains content specifically provided by FBM, Fundraisers and/or third parties and that such content may contain intellectual property rights. Users 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 Site.
When Fundraisers submit information relating to a Campaign onto the Site, Fundraisers may upload content, videos, audio clips, written comments, data, text, photographs, graphics and other information ("Fundraiser Content") to the Site. Ownership of all Fundraiser Content shall stay with the Fundraiser.
In order to provide the services contemplated by the Site, FBM will need a license to use the Fundraiser Content. By agreeing to these terms, the Fundraiser hereby grants FBM 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 Fundraiser Content to perform the services contemplated by the Site.
The Fundraiser hereby acknowledges that it has all necessary rights to display and upload the Fundraiser Content and in all other ways use the Fundraiser Content and to provide FBM with the above license to the Fundraiser Content.
Should any Fundraiser Content infringe the intellectual property rights of a third party, the Fundraiser agrees to immediately remove all infringing parts of the Fundraiser Content and compensate FBM against all damages, costs and expenses incurred as a result of such infringement. Should FBM be made aware or suspect that the Fundraiser Content infringes any third party's intellectual property rights, FBM shall have the right to remove from the Site all such Fundraiser Content.
The material on this webpage is provided for information purposes only and provides background to the risks inherent in investing through the FundedByMe MENA platform. You should ensure that you fully understand the nature of such investments and the potential risks relevant to them.
Early-stage companies, including start-ups and scale-ups, face a competitive market and any investment in them is risky. For these reasons:
- Users access and use information on the Site, at their own risk. Registered Users will be reminded of these risks when accessing Campaign information.
- FBM encourages Investors to diversify their investment portfolios and reminds Investors that crowdfunding investments are unsecured and not liquid investments.
- The value of investments and the income derived from them can fluctuate.
- Past performance of an investment is not necessarily a guide to its future performance and Investors may be exposed to loss of some or all of their capital or may experience delays in being paid.
- Investments in companies may result in the dilution of equity holdings if the company undertakes further rounds of capital raising through the Site or otherwise.
- Fundraisers on the platform will include new businesses and, as many new businesses fail, an investment with such Fundraiser may involve high risks.
- Investors will have less access to company information relating to start-up company investments and new businesses, than would be the case for an investment made in a listed firm.
- If for any reason FBM ceases to carry on its business, the investor may lose their money, incur costs or experience delays in being paid.
- It is an Investor’s responsibility to inform themselves about the investments they choose to make, and to carefully consider their risk tolerance before committing to any Campaign.
Further information on the risks involved can be accessed here: FAQ
LIMITATION OF LIABILITY
FBM does not endorse any of the businesses raising finance on the Site.
FBM is not authorised or qualified to provide investment advice of any description. Commentary and other materials posted on the Site is not intended to amount to advice.
FBM make no assurances about the accuracy of financial statements and/or projections provided by on the Site. The material displayed on this Site is provided without any guarantees, conditions or warranties as to its accuracy. To the extent permitted by law, FBM expressly exclude:
- All conditions, warranties and other terms which might otherwise be implied by statute, common law, civil law or the law of equity.
- Any liability for any direct, indirect or consequential loss or damage incurred by any User in connection with the Site or in connection with the use, inability to use, or results or the use of this Site, any websites linked to it and any materials posted on it, including, without limitation any liability for loss of income or revenue; loss of business; loss of profits or contracts; loss of anticipated savings; loss of data; loss of goodwill; wasted management or office time; and for any other loss or damage of any kind, however arising and whether caused by tort (including negligence), breach of contract or otherwise, even if foreseeable.
This does not affect our liability which cannot be excluded or limited under applicable law.
Except for quality and compliance monitoring, FBM do not conduct due diligence on direct communications made between Registered Users and/or of posts on the Site forum and/or Q&A pages. FBM is neither liable nor responsible to correct mistakes committed by involved parties posting to these pages.
If a User has any complaints or queries about the services provided by FBM or in relation to the FBM Platform, he/she should contact FBM on: [email protected]
Upon receiving information about the complaint, FBM will write to the complainant to acknowledge that the complaint has been recorded and is receiving the firm’s attention within 48 hours of receipt of being notified of the complaint. FBM will nominate a person who is not directly involved in the matter to carry out an investigation (the complaint officer).
Within 21 days of the complaint, FBM shall write to the complainant to explain the firm’s views on the matter and the action, if any, it proposes to take. FBM will record all relevant details of the complaint in the firm’s complaints register for internal record purposes.
If the complaint cannot be resolved within 21 days, the complainant should be provided with a progress report which includes details as to why the complaint has not been resolved and when the complainant can expect a resolution. If the complaint has not been resolved satisfactorily by FBM's internal network, the complainant may pursue their case with the DIFC Courts.
SEVERABILITY OF THESE TERMS
If a court of competent jurisdiction finds any part of these Terms to be unenforceable for any reason, that part of these Terms shall be enforced to the extent permissible, and the remainder of the Terms shall continue in full force and effect.
Failure by FBM to enforce all or any part of these Terms shall not be deemed a waiver of future enforcement of that Term.
Any laws or regulations that provide that the language of a contract will be construed against the drafter will not apply to these Terms.
GOVERNING LAW AND JURISDICTION
These Terms and any non-contractual obligations arising out of or in connection with the Site shall be governed by and interpreted in accordance with applicable DIFC laws and regulations.
Any dispute, controversy or claim arising out of or in connection with these Terms, or the breach, termination or invalidity thereof, shall be settled by arbitration in accordance with applicable DIFC laws and regulations.