Privacy Policy

1. Introduction

1.1 Important information and who we are

Welcome to FinanceUp Limited’s Privacy and Data Protection Policy (“Privacy Policy”).

At FinanceUp Limited (“we”, “us”, or “our”) we are committed to protecting and respecting
your privacy and Personal Data in compliance with the United Kingdom General Data
Protection Regulation (“GDPR”), the Data Protection Act 2018 and all other mandatory laws
and regulations of the United Kingdom.

This Privacy Policy explains how we collect, process and keep your data safe. The Privacy
Policy will tell you about your privacy rights, how the law protects you, and inform our
employees and staff members of all their obligations and protocols when processing data.

The individuals from which we may gather and use data can include:

• Customers

• Suppliers

• Business contacts

• Employees/Staff Members

• Third parties connected to your customers

• Applicants for finance

and any other people that the organisation has a relationship with or may need to contact.

This Privacy Policy applies to all our employees and staff members and all Personal Data
processed at any time by us.

1.2 Your Data Controller

FinanceUp Limited is your Data Controller and responsible for your Personal Data. We are
not obliged by the GDPR to appoint a data protection officer and have not voluntarily
appointed one at this time. Therefore, any inquiries about your data should either be sent
to us by email to privacy@fundup.co or by post to Apartment 111 Dudley House, North
Wharf Road, London, W2 1PL, United Kingdom.

You have the right to make a complaint at any time to the Information Commissioner’s
Office (ICO), the UK supervisory authority for data protection issues (www.ico.org.uk). We
would, however, appreciate the chance to deal with your concerns before you approach
the ICO so please contact us in the first instance.

1.3 Processing data on behalf of a Controller and processors’ responsibility to you

In discharging our responsibilities as a Data Controller we have employees who will deal
with your data on our behalf (known as “Processors”). The responsibilities below may be
assigned to an individual or may be taken to apply to the organisation as a whole. The
Data Controller and our Processors have the following responsibilities:

• Ensure that all processing of Personal Data is governed by one of the legal bases
  laid out in the GDPR (see 2.2 below for more information);

• Ensure that Processors authorised to process Personal Data have committed
  themselves to confidentiality or are under an appropriate statutory obligation of
  confidentiality;

• Implement appropriate technical and organisational measures to ensure a level of
  security appropriate to the risk associated with the processing of Personal Data;

• Obtain the prior specific or general authorisation of the Controller before engaging
  another Processor;

• Assist the Controller in the fulfilment of the Controller's obligation to respond to
  requests for exercising the data subject's rights;

• Make available to the Controller all information necessary to demonstrate
  compliance with the obligations laid down in the GDPR and allow for and contribute
  to audits, including inspections, conducted by the Controller or another auditor
  mandated by the Controller;

• Maintain a record of all categories of processing activities carried out on behalf of a
  Controller;

• Cooperate, on request, with the supervisory authority in the performance of its
  tasks;

• Ensure that any person acting under the authority of the Processor who has access
  to Personal Data does not process Personal Data except on instructions from the
  Controller; and

• Notify the Controller without undue delay after becoming aware of a Personal Data
  Breach.

2. Legal Basis for Data Collection

2.1 Types of data / Privacy policy scope

“Personal Data” means any information about an individual from which that person can
be identified. It does not include data where the identity has been removed (anonymous
data).

We may collect, use, store and transfer different kinds of Personal Data about you which
we have grouped together below. Not all of the following types of data will necessarily be
collected from you but this is the full scope of data that we collect and when we collect it
from you:

• Profile/Identity Data: This is data relating to your first name, last name, gender, date
  of birth.

• Contact Data: This is data relating to your phone number, addresses, email
  addresses, phone numbers.

• Billing Data: This is information relating to your debit and credit card information
  such as the name attached to your payment details and your billing address.

• Financial Data: These are your banking details e.g. your account number and sort
  code.

• Transactional Data: This is information of details and records of all payments you
  have made for our services or products.

• Technical Data: This is your IP address, browser type and version, time zone setting
  and location, operating system and platform, and other technology on the devices
  you use to engage with us.

• Customer Support Data: This includes feedback and survey responses.

• Usage Data: information about how you use our website, products and services.

• Accounting Data: This is data relating to the client's accounting documents.

• Open Banking Data : This is financial data from the client's bank account, accessed
  through application programming interfaces (APIs)

• Marketing and Advertsing Data: This is data relating to the client's marketing and
  advertising efforts. This includes, but is not limited to, data from digital marketing
  platforms, such as Meta Ads, Google Ads, and LinkedIn Ads.

• Payments Data: This is data relating to the client's payment collections for the
  client's own revenue.

• User and Subscription Management Data: This is data relating to the usage of the
  client's product. This includes, but is not limited to, data from subscription
  management platforms.

• CRM Data: This is data from the client's Customer Relationship Management
  software.

• Personal ID: These are copies of personal identification documents
  

We also collect, use and share Aggregated Data such as the default rate across our
portfolio. Aggregated Data could be derived from your Personal Data but is not
considered Personal Data in law as this data will not directly or indirectly reveal your
identity. However, if we combine or connect Aggregated Data with your Personal Data so
that it can directly or indirectly identify you, we treat the combined data as Personal Data
which will be used in accordance with this Privacy Policy.

We may also aggregate data to enable research or analysis so that we can better
understand and serve you and others. For example, we may conduct research on your
demographics and usage. Although this aggregated data may be based in part on Personal
Data, it does not identify you personally. We may share this type of anonymous data with
others, including service providers, our affiliates, agents and current and prospective
business partners.

We do not collect any Special Categories of Personal Data about you (this includes details
about your race or ethnicity, religious or philosophical beliefs, sex life, sexual orientation,
political opinions, trade union membership, information about your health, and genetic
and biometric data). Nor do we collect any information about criminal convictions and
offences.

2.2 The Legal Basis for Collecting That Data

There are a number of justifiable reasons under the GDPR that allow collection and
processing of Personal Data. The main avenues we rely on are:

• “Consent”: Certain situations allow us to collect your Personal Data, such as when
  you tick a box that confirms you are happy to receive email newsletters from us, or
  ‘opt in’ to a service.

• “Contractual Obligations”: We may require certain information from you in order
  to fulfil our contractual obligations and provide you with the promised service.

• “Legal Compliance”: We’re required by law to collect and process certain types of
  data, such as fraudulent activity or other illegal actions.

• “Legitimate Interest”: We might need to collect certain information from you to be
  able to meet our legitimate interests - this covers aspects that can be reasonably
  expected as part of running our business, that will not have a material impact on
  your rights, freedom or interests. Examples could be your address, so that we know
  where to deliver something to, or your name, so that we have a record of who to
  contact moving forwards.

3. How We Use Your Personal Data

3.1 Our data uses

We will only use your Personal Data when the law allows us to.

Set out below is a list containing the different types of Personal Data we collect and the
lawful basis for processing that data. Please refer to section 2.2 for more information on
the lawful basis listed in the table below.

Examples provided below are indicative in nature and the purposes for which
we use your data may be broader than described but we will never process your data
without a legal basis for doing so and it is for a related purpose. For further inquiries
please contact us.

When a Customer Applies for Finance:

Type of Data Processed

• Profile/Identity Data

• Contact Data

• Marketing and Communications Data

• Billing Data

• Transactional Data

• Technical Data

• Usage Data

• Other Data

Legal Justification

1. Consent

   • We process this data to safely underwrite our clients.

   • This data helps us identify fraudulent actors and comply with our Anti-Money Laundering (AML) policy.

   • It is also necessary to monitor a client’s performance.

2. Legal Compliance

   • Processing is required to meet our legal obligations.

Lawful Basis for Processing Data

• We need to process customer data to ensure compliance with legal, regulatory, and financial requirements.

3.2 Change of purpose

We will only use your Personal Data for the purposes for which we collected it, unless we
reasonably consider that we need to use it for another reason and that reason is
compatible with the original purpose. If you wish to get an explanation as to how the
processing for the new purpose is compatible with the original purpose, please contact us.

If we need to use your Personal Data for an unrelated purpose, we will notify you and we
will explain the legal basis which allows us to do so.

Please note that we may process your Personal Data without your knowledge or consent,
in compliance with the above rules, where this is required or permitted by law.

4. Your Rights and How You Are Protected by Us

4.1 Your legal rights

Under certain circumstances, you have the following rights under data protection laws in
relation to your personal data:

• Right to be informed. You have a right to be informed about our purposes for
  processing your personal data, how long we store it for, and who it will be shared
  with. We have provided this information to you in this policy.

• Right of access. This enables you to receive a copy of the personal data we hold
  about you and to check that we are lawfully processing it (also known as a "data
  subject access request"). See section 4.4 below for more details on how you can
  make a data subject access request.

• Right to rectification. You have a right to request correction of the personal data
  that we hold about you. This enables you to have any incomplete or inaccurate data
  we hold about you corrected, though we may need to verify the accuracy of the new
  data you provide to us.

• Right to erasure. You have the right to ask us to delete or remove personal data
  where there is no good reason for us continuing to process it, where you have
  successfully exercised your right to object to processing (see below), where we may
  have processed your information unlawfully or where we are required to erase your
  personal data to comply with local law. Note, however, that we may not always be
  able to comply with your request of erasure for specific legal reasons which will be
  notified to you, if applicable, at the time of your request.

• Right to object. You can object to the processing of personal data we hold about
  you. This effectively allows you to stop or prevent us from processing your personal
  data. Note that this is not an absolute right and it only applies in certain
  circumstances, for example:

  
  

  1. Where we are processing your personal data for direct marketing purposes.

  2. Where we are relying on a legitimate interest (or those of a third party) and
     there is something about your particular situation which makes you want to
     object to processing on this ground as you feel it impacts on your
     fundamental rights and freedoms.

  3. In some cases, we may continue processing your data if we can demonstrate
     that we have compelling legitimate grounds to process your information
     which override your rights and freedoms.

  
  

• Right to restrict processing. You have the right to request the restriction or
  suppression of their personal data. Note that this is not an absolute right and it only
  applies in certain circumstances:

  
  

  1. If you want us to establish the data's accuracy.

  2. Where our use of the data is unlawful but you do not want us to erase it.

  3. Where you need us to hold the data even if we no longer require it as you
     need it to establish, exercise or defend legal claims.

  4. You have objected to our use of your data but we need to verify whether we
     have overriding legitimate grounds to use it.

  
  

• Right to data portability. You have the right to request the transfer of your
  personal data to you or to a third party. If you make such a request, we will provide
  to you, or a third party you have chosen, your personal data in a structured,
  commonly used, machine-readable format. Note that this right only applies to
  automated information which you initially provided consent for us to use or where
  we used the information to perform a contract with you.
  
  

If you wish to make a request under any of these rights, please contact us at
privacy@fundup.co.

4.2 Your control over FinanceUp Limited’s use of your Personal Data

Your account information will be protected by a password for your privacy and security.
You need to prevent unauthorized access to your account and personal information by
selecting and protecting your password appropriately and limiting access to your
computer or device and by signing off after you have finished accessing your account.

You will need to contact us if you would like to delete your account.

California Privacy Rights: Under California Civil Code sections 1798.83-1798.84, California
residents are entitled to ask us for a notice identifying the categories of personal customer
information which we share with our affiliates and/or third parties for marketing purposes,
and providing contact information for such affiliates and/or third parties. If you are a
California resident and would like a copy of this notice, please submit a written request to
privacy@fundup.co.

4.3 How FinanceUp Limited protects customers' Personal Data

We are concerned with keeping your data secure and protecting it from inappropriate
disclosure. Any Personal Data collected by us is only accessible by a limited number of
employees who have special access rights to such systems and are bound by obligations
of confidentiality. If and when we use subcontractors to store your data, we will not
relinquish control of your Personal Data or expose it to security risks that would not have
arisen had the data remained in our possession. However, unfortunately no transmission
of data over the internet is guaranteed to be completely secure. It may be possible for
third parties not under the control of FinanceUp Limited to intercept or access
transmissions or private communications unlawfully. While we strive to protect your
Personal Data, we cannot ensure or warrant the security of any Personal Data you
transmit to us. Any such transmission is done at your own risk. If you believe that your
interaction with us is no longer secure, please contact us.

4.4 How to request your data and the process for obtaining it

You will not have to pay a fee to access your Personal Data (or to exercise any of the other
rights). However, if your request is clearly unfounded, we could refuse to comply with your
request.

We may need to request specific information from you to help us confirm your identity
and ensure you have the right to access your Personal Data (or to exercise any of your
other rights). This is a security measure to ensure that Personal Data is not disclosed to
any person who has no right to receive it. We may also contact you to ask you for further
information in relation to your request to speed up our response.

5. Your Data and Third Parties

5.1 Sharing your data with third parties

We may also share Personal Data with interested parties in the event that FinanceUp
Limited anticipates a change in control or the acquisition of all or part of our business or
assets or with interested parties in connection with the licensing of our technology.

If FinanceUp Limited is sold or makes a sale or transfer, we may, in our sole discretion,
transfer, sell or assign your Personal Data to a third party as part of or in connection with
that transaction. Upon such transfer, the Privacy Policy of the acquiring entity may govern
the further use of your Personal Data. In all other situations your data will still remain
protected in accordance with this Privacy Policy (as amended from time to time).

We may share your Personal Data at any time if required for legal reasons or in order to
enforce our terms or this Privacy Policy.

6. How Long We Retain Your Data

We will only retain your Personal Data for as long as reasonably necessary to fulfil the purposes
we collected it for. We may retain your Personal Data for a longer period than usual in the event
of a complaint or if we reasonably believe there is a prospect of litigation in respect to our
relationship with you.

7. Age Limit for Our Users

You must not use FinanceUp Limited unless you are aged 18 or older. If you are under 18 and
you access FinanceUp Limited by lying about your age, you must immediately stop using
FinanceUp Limited.

This website is not intended for children and we do not knowingly collect data relating to children.

8. International Transfer of Data

Your information may be stored and processed in the US or other countries or jurisdictions
outside the US where FinanceUp Limited has facilities. By using FinanceUp Limited, you are
permitting and consenting to the transfer of information, including Personal Data, outside of the
US.

9. Notification of Changes and Acceptance of Policy

We keep our Privacy Policy under review and will place any updates here. This version is dated 2
November 2024. By using FinanceUp Limited, you consent to the collection and use of data by us as set out in this
Privacy Policy. Continued access or use of FinanceUp Limited will constitute your express
acceptance of any modifications to this Privacy Policy.

10. Interpretation

All uses of the word "including" mean "including but not limited to" and the enumerated
examples are not intended to in any way limit the term which they serve to illustrate. Any email
addresses set out in this policy may be used solely for the purpose for which they are stated to
be provided, and any unrelated correspondence will be ignored. Unless otherwise required by
law, we reserve the right to not respond to emails, even if they relate to a legitimate subject
matter for which we have provided an email address. You are more likely to get a reply if your
request or question is polite, reasonable and there is no relatively obvious other way to deal with
or answer your concern or question (e.g. FAQs, other areas of our website, etc.).

Our staff are not authorised to contract on behalf of FinanceUp Limited, waive rights or make
representations (whether contractual or otherwise). If anything contained in an email from a
FinanceUp Limited address contradicts anything in this policy, our terms or any official public
announcement on our website, or is inconsistent with or amounts to a waiver of any FinanceUp
Limited rights, the email content will be read down to grant precedence to the latter. The only
exception to this is genuine correspondence expressed to be from the FinanceUp Limited legal
department.