Terms and Conditions

This document sets forth the terms applicable to subscriptions to Akka’s investment club, as well as the use of the platform and the referral program. Hereinafter, subscribers will be referred to as “Member,” and BLAST ANGELS EUROPE SAS as “Akka.”

The use of this website or the request to subscribe to a membership implies acceptance of the subscription and platform usage conditions, as well as our Data Protection Policy, which Members must consult and accept before proceeding with the subscription and use of the product. These subscription conditions may vary. It is the Member’s responsibility to read them periodically, as the conditions in effect at the time of subscription will be applicable. For any questions about the conditions or data protection, please fill out the contact form or contact our online department at the email address contact-nordics@akka.app.

PART I – DEFINITIONS

“Algorithm”: Refers to the mathematical formula used to determine the investment share allocated to a Member who has expressed an intention during the Intention Period when the intentions expressed by all Members during the Intention Period exceed the maximum amount to be invested in the investment vehicle dedicated to acquiring a stake in the capital of a Startup.
“Priority Coupons”: Refers to the right available to certain Members, depending on their membership level, which allows them to participate in an investment opportunity even if the intentions expressed by all Members during the Intention Period exceed the maximum amount to be invested in the investment vehicle intended to acquire a stake in a Startup.
“Terms and Conditions”: Refers to these general terms and conditions of subscription and use.
“Internet User”: Refers to any person browsing the Site without having completed the registration process. For the avoidance of doubt, an Internet User is not a Member.
“Member”: Refers to the natural or legal person who has completed the registration process, whose registration has been validated by Akka, and who wishes to use the Services.
“Subscription Period”: Refers to the subscription phase during which the Member who indicated an intention during the Intention Period must actually subscribe to the shares of the investment vehicle dedicated to acquiring a stake in the capital of a Startup and pay for their subscription.
“Intention Period”: Refers to the phase during which each Member can indicate their intention to subscribe to shares of the investment vehicle dedicated to acquiring a stake in the capital of a Startup.
“Services”: Refers to all services offered by Akka and described in these Terms and Conditions.
“Site”: Refers to the Italian website of Blast Angels Europe, accessible at: https://nordics.akka.app/.
“Startups”: Refers to companies seeking capital presented on the Site.

PART II – SUBSCRIPTION CONDITIONS

1. Purpose and Scope

The user declares to be aware, at the time of subscribing to the membership, of the specific subscription conditions indicated in the data sheet of each subscription (type of subscription, price, included services, etc.) and expressly declares to accept them without reservation. The completion of the subscription and its confirmation by the user make them a Member and imply full and complete acceptance of the specific subscription conditions, as well as acceptance of the rest of the legal documents published both on the website and in the legal notice and privacy policy.

2. Members

A Member is any natural or legal person who subscribes and registers on Akka’s platform according to the registration procedure.
To access the services that Akka makes available to users as a Member, registration is required, acceptance of these Terms and Conditions, and compliance with the following requirements:

For natural persons: They must be of legal age (+18 years); have ordinary civil capacity and not be legally incapacitated.
For legal entities: They must act through a natural person of legal age (+18 years) with sufficient powers to represent them and sign on their behalf; they must be in compliance with legal and tax obligations.

The Member can be Expert or Non-Expert, in accordance with the definition established in the applicable regulations.

The Member can never act as an intermediary for another Member.

Akka reserves the right to include additional requirements, at its discretion, to become a Member of its platform.

3. Registration and Subscription Process

3.1 Registration

To become a Member, Internet Users must create a personal account on the platform:

Subscribe to a membership.
Complete all required fields in the registration form.
Explicitly confirm acceptance of the Terms of Use.
Read and accept all risk warnings inherent in investments.

Registration as a Member will not be considered valid until all the above conditions are met and Akka’s team has approved the profile. Akka reserves the discretionary right to accept or refuse any registration without having to justify its decision or provide any compensation.

Upon completing the registration form, the Member guarantees to Akka that the information provided about their identity, contact details, and other additional information requested is accurate, truthful, up-to-date, and complete.

3.2 Registration or Subscription Process

To purchase one of the offered memberships, the following steps must be followed:

Selection of Membership: Browse our site and click the “Apply Now” button to select the desired membership.
Fill Out the Waiting List Form: Subscription to the membership is not immediate. First, you need to register on the waiting list by completing the registration form. Once Akka’s team has authorized your registration, you can proceed with the membership payment.
Verification of Subscription Data: Before making the payment, you can verify your subscription data and correct any errors.
Selection of Payment Method: Enter your credit card details. This will be the only time you are asked for this information.
Confirmation of Subscription: Once your payment is received, you can access the Platform to complete the KYC process, as well as other necessary information before starting to invest.

4. Services Included in Akka Memberships

The services offered to Members are as follows:

Access to Startup Profiles (Service 1): Members can access detailed information about the Startups presented on the platform.
Investment in a Company Created by Akka to Participate in a Startup (Service 2): Members have the opportunity to invest in a company created by Akka, specifically established to participate in selected Startups.
Access to the Bulletin Board Facilitating the Resale of Shares to Other Members (Service 3): Members can access a bulletin board that facilitates the process of reselling their shares to other Members.
Participation in Events Organized by Akka (Service 4): Members have the opportunity to participate in events organized by Akka.

4.1 Service 1: Presentation of Startups

4.1.1 Presentation of Service 1

Akka offers a service that consists of providing Members, through its Site, general information about Startups seeking funds.
To present a Startup on its Site, Akka enters into a service contract with each Startup. This contract establishes the terms and conditions for presenting the Startup and its fundraising project to Members.
It is important to note that the fundraising requested by Startups can take various forms, including capital increases, issuance of bonds, or securities giving access to capital.

4.1.2 No Financial Investment Advice

Akka conducts a preliminary analysis of each Startup and its fundraising project before presenting them on the Site.

It is important for Members to understand that Service 1, as defined and regulated in section 4.1.1, consists solely of providing general information about the Startup.

Consequently, it is formally stated that Members should not consider Service 1 provided by Akka as a financial advisory service, as defined by the Finansinspektionen Manual. Upon registration, Members acknowledge and accept the following:

(i) Service 1 is not an investment advisory activity, as defined in the Finansinspektionen Manual;
(ii) Access to Service 1 does not constitute, in any case, a personalized investment recommendation; and
(iii) Akka will not provide any advice to Members and will not monitor investments made by Members through Service 1.

4.1.3 Knowledge of General Asset Management Principles

The Member expressly declares to know and apply the essential rules of asset management related to investing in unlisted companies’ capital, including the following principles:

Do not invest more than 5-10% of your non-real estate assets in this asset class.
Do not invest savings that may be needed in the short or medium term.
Diversify investments within this asset class as much as possible, so that an investment never represents more than 10% of the invested portfolio.
The return on investment depends on the success of the funded project.

These general principles are provided solely for informational purposes, and their observance does not imply any obligation on the part of Akka.

4.1.4 Anti-Money Laundering – KYC

Since the Service 1 offered by Akka is limited to presenting Startups and their fundraising projects to Members, it is informed that Akka is not a financial intermediary legally obliged to comply with regulations regarding the fight against money laundering, terrorist financing, and tax fraud.

However, Akka reserves the right to request from any Member, at the time of registration or thereafter, the information required in accordance with regulations.

In this regard, Akka reserves the right to request the following documents:

Copy of identity document;
Proof of residence;
Form on the origin of income and assets.

In the case of a legal entity:

Articles of incorporation;
Certificate of validity issued by the competent Commercial Registry;
Copy of the most recent financial statements;
Bylaws;
Certificate of beneficial ownership.

4.2 Service 2: Investment in a Vehicle Created by Akka Dedicated to Acquiring a Stake in a Startup

The shares are subscribed through investment vehicles created by Akka. Akka’s team takes care of legally creating the investment vehicle so that Members can participate. Subsequently, the same vehicle created for the occasion acquires a stake in the Startup.

Service 2 takes place in two distinct phases: a first phase, called the Intention Period, during which each Member can express their intention to subscribe to the shares of the investment vehicle dedicated to participating in the Startup. The second phase, called the Subscription Period, occurs after the Intention Period, during which Members who have expressed an intention must actually subscribe to the shares and proceed with the payment.

If, at the end of the Intention Period, the intentions expressed by all Members exceed the maximum amount planned for the investment, Akka will use an algorithm to select the Members eligible to participate. However, Members who hold a Priority Coupon and wish to use it in this context will not be subject to the algorithm, allowing them to subscribe to the shares without algorithmic restrictions.

Additionally, Members who have expressed an intention but have not actually subscribed within seven (7) days from the start of the Subscription Period may be excluded from the investment opportunity. In such a case, the management fees indicated in clause 9.2 will still be due to Akka.

Regarding payments, Akka manages them through the Lemonway payment gateway. Therefore, users accept Lemonway’s terms and conditions as part of the services offered by Akka.

4.3 Service 4: Access to Events Organized by Akka

Akka will create a tool that allows Members to access events organized by Akka through its clubs.
Akka does not guarantee the number of events, and Members understand that no event may be available if Akka does not organize any through its clubs.

5. Subscription Duration

Subscription to one of Akka’s memberships allows the Member to access the Crowdfunding Platform and other resources for one (1) calendar year, calculated from date to date, that is, from the day the membership is subscribed until the same time and date of the following year. If in the second year there is no corresponding date, the subscription expires at the last hour of the last day of the following month.

At the end of the subscription period, the subscription will automatically renew for periods of the same duration unless the Member notifies Akka of the intention to cancel it in accordance with clause 29 of these Terms (“Cancellation of Subscription”).

6. Information Provided

The information provided on the website is accurate and free from typographical errors. In the event such an error occurs, Akka will immediately proceed to correct it.

7. Languages for Subscription

Subscriptions made by Members will be considered binding exclusively in Italian.

8. Price

8.1 Membership

Membership as an Akka Member is subject to a fee and is valid for one year. The membership amount depends on the chosen subscription:

Type of Membership	Amount (€ incl. VAT)	Subscription Duration	Benefits
Bronze	1,000	1 year	Maximum €2,000 to invest per investment opportunity and €10,000 in total in 1 year. No Priority Coupon.
Silver	1,500	1 year	Maximum €5,000 to invest per investment opportunity and €25,000 in total in 1 year. 1 Priority Coupon.
Gold	3,000	1 year	Maximum €10,000 to invest per investment opportunity and €50,000 in total in 1 year. 2 Priority Coupons.
Platinum	5,000	1 year	Maximum €20,000 to invest per investment opportunity and €100,000 in total in 1 year. 3 Priority Coupons.
Diamond	10,000	1 year	Maximum €50,000 to invest per investment opportunity and €300,000 in total in 1 year.

The payment of the offer is made exclusively via bank transfer directly on the Site, using the secure payment form.

8.2 Structuring and Management Fees

For Service 2, Akka charges structuring fees ranging from 3% to 5% for each investment made.

The participation in the remuneration is determined based on the Member’s membership and decreases according to the importance of the Member, as follows:

Membership	Management Fee Amount*
Bronze	5%
Silver	5%
Gold	4%
Platinum	4%
Diamond	3%

*Percentage applied to the amount of each investment made under Service 2.

Additionally, 5% of the investment made by the Member in the investment vehicle created by Akka will be retained and not invested in the respective Startup, to finance the operating costs of the investment vehicle itself (management fees).

8.3 Performance Fees

Akka receives a 20% fee on any capital gains realized by Members in the following cases:

When the investment vehicle formed to make the investments disposes of its shares and obtains a capital gain;
When Members, within or outside Service 3, realize a capital gain by selling their shares in the investment vehicle.

8.4 Common Rules to All Fees

All prices are indicated by default in euros. The indicated price includes taxes applicable to the transaction. The price and conditions of the offered memberships may vary, but in any case, the price and conditions that existed at the time of subscription will be binding on the user.

Akka may offer various promotions from which customers can benefit. In case of discrepancy between the fees indicated on the Site via the desktop version and the mobile version, the fees displayed on the desktop version will prevail. Akka undertakes to inform users as soon as possible of the correct price of the fees.

9. Payment Conditions

To complete the purchase, the user can do so via Stripe by entering their bank card details. Online payment is made through the Redsys payment system, whose security and encryption systems and protocols guarantee the encrypted sending of data.

Bank details will never be used by Akka for purposes other than completing procedures related to the purchase, issuing relevant refunds in case of return, and preventing or reporting any fraud to law enforcement authorities.

10. Right of Withdrawal

In accordance with Royal Legislative Decree 1/2007 of November 16, which approves the consolidated text of the General Law for the Defense of Consumers and Users and other complementary laws, Members have the right to withdraw within fourteen (14) days from the date of their registration to one of our services, without having to justify their decision or pay any penalty. During this period, Members can cancel their membership by sending a written notification to the following address: contact-nordics@akka.app. In such a case, we will refund the full amount paid within fourteen (14) days from the receipt of the cancellation request. After this period, Members will no longer be able to exercise the right of withdrawal.

It is important to note that, in accordance with Article 103.a) of Royal Legislative Decree 1/2007, Members will not have the right of withdrawal if they have used any of the services offered by Akka.

11. Access to Online Resources

Access to online resources can only be made by the Member. Access by third parties other than the Member is expressly not authorized by Akka and will constitute sufficient reason for the cancellation of the Member’s subscription for violation of these conditions.

PART III – PLATFORM USAGE CONDITIONS

12. Identification

Members must provide an email address, which will be used for the following purposes:

For the entire identification process of Members (including access to their personal account).
To confirm transactions made by Members on their personal account.
For the communication of any element related to the personal account to Members.
For the transmission of information related to the use of the Services available on the Site.

If the Member wishes to modify the means of identification, they can do so by accessing the “My Account” section on the Site or by contacting Akka via email at the following address: contact-nordics@akka.app. In case of unauthorized disclosure of identification credentials to third parties, the Member will be solely responsible for any resulting use and related consequences.

The Member undertakes to keep the information provided to Akka in relation to the use of the Site always up to date. Any changes affecting this information must be communicated to Akka via email at the following address: contact-nordics@akka.app.

13. Access to the Site

All information related to investment opportunities and access to the personal area are reserved exclusively for Members.

The purchase of a membership gives access to the Site. Members assume full responsibility for any use of their access credentials (login and password), being solely responsible for their security, as well as any activity carried out through their account.

The Member undertakes to immediately inform Akka in case of unauthorized use of their account or in case of breach of confidentiality and security of their identification information, by sending an email to the following address: contact-nordics@akka.app.

If Akka has reasonable grounds to suspect that the security of the Site is compromised or that improper use is being made due to unauthorized use of the Member’s credentials, Akka reserves the right to temporarily suspend the account, primarily to preserve the integrity of the data and the Site. If necessary, Akka may also require the Member to modify their identification information.

Members acknowledge that they possess the necessary skills and resources to access and use the Site.

14. Member Obligations

By this agreement, the Member undertakes to Akka as follows:

The Member declares that they will strictly comply with all applicable laws, regulations, and administrative requirements, the violation of which could compromise their ability to fulfill these Terms of Use.
The Member must make appropriate, reasonable, and lawful use of the Platform and the content and services made available, according to the possibilities and purposes for which they are designed, always respecting applicable regulations and these General Conditions, acting in good faith, according to morals, good customs, and public order.
The Member must be truthful in all their statements during the registration and investment process, without omitting any relevant data, nor attempting to obtain Expert Member status if they do not meet the requirements provided by law.
The Member undertakes to provide Akka with all the information and documents necessary to ensure the proper performance of the Services. The Member will actively collaborate with Akka to ensure the proper performance of the Services. In case of non-compliance with this obligation, Akka reserves the right to suspend the Services until the requested information or documents are provided. The Member guarantees that all information and documents provided by them to Akka are accurate, up-to-date, and truthful at the time of submission and not misleading or likely to mislead. If the information or documents become inaccurate or outdated during the validity of the Terms of Use, the Member undertakes to update them as soon as possible on the Site. Members must also formally inform Akka of any changes in their information.
The Member must be truthful in accepting the understanding of Investment Risks.
The Member undertakes not to use the Platform’s services and content for purposes that could damage the rights and interests of third parties, or in any way harm, disable, impair, or deteriorate the Platform. Likewise, it is prohibited to prevent the normal use and enjoyment of the Platform by other users. In particular, they undertake to:
- Use the Platform for illegal or unauthorized purposes.
- Not use disrespectful or offensive language. Messages with threats, serious insults, or any other type of comment that may hurt the sensitivity of other Members are not allowed.
- Alter or modify, in whole or in part, the Platform, bypassing, disabling, or otherwise manipulating the Platform’s functions or services.
- Violate personal data protection rules.
- Make, publish, or disseminate false, inaccurate, ambiguous, or imprecise statements or information, in such a way as to mislead or potentially mislead other users who receive or consult such information.
- Publish or disseminate statements that harm Akka or, in general, that damage their honor and image.
- Insert or disseminate on the Platform computer viruses, programs, or computer or physical elements that may cause damage to Akka’s systems, suppliers, or third parties.
- Disseminate, transmit, or make available, through the Platform, any type of information, element, or content that constitutes illicit or unfair advertising or that may configure criminal, violent, offensive, derogatory, defamatory behaviors or, in general, contrary to law, morals, good customs, or public order.
- Use web scraping tools, automatic data extraction robots, plugins, or similar tools that may jeopardize the security of the Platform.
- Share, market, rent, or obtain any benefit from accessing the Platform and associated content, not contemplated or authorized by Akka.
- Extract, market, distribute, or download any content or information from the Platform that has not been expressly authorized by Akka, nor replicate or otherwise incorporate any content from the Platform into another website without prior authorization from Akka.

The Member must apply the utmost diligence in ensuring the protection and confidentiality of their access credentials to prevent them from being used by third parties, including other users. The Member is fully responsible for their use, and any use of the Site by third parties using the Member’s credentials will be considered as carried out under the Member’s responsibility and with their agreement.

The Member undertakes to use the Site and Services solely for personal purposes and not to authorize any third party to use them on behalf of or for the Member, except under the Member’s responsibility. Akka assumes that any person using the Site and Services on behalf of and for the Member has the necessary power and authority unless the Member notifies Akka otherwise in advance. The Member undertakes to immediately inform Akka of any unauthorized use of the Site by third parties.

In case of violation of the obligations indicated above, or untruthfulness of the information provided, Akka will have the right to limit or block access to the services offered through the Platform or to cancel the Member’s registration. Likewise, if the Member engages in any other conduct, not mentioned above, contrary to law or principles of law or any type of behavior that directly or indirectly causes damage or harm to Akka, the Member will be obliged to compensate Akka for the damages suffered, including lost profits, and must hold Akka harmless from any third-party claims arising from such conduct.

15. Confidentiality, Non-Competition, and Conflict of Interest

The Member undertakes to:

Maintain strictly confidential all information, verbal or written, contained on Akka’s Platform, as well as those received by the Member to study each investment project and quarterly update reports (hereinafter “the Information”), and not to transmit them, in whole or in part, to any natural or legal person, except with Akka’s prior authorization or in cases where they are legally required to disclose them, in which case they must immediately inform Akka.
Not carry out or study investments made by Akka with the aim of obtaining information, ideas, know-how, etc., to become a competitor of Akka or the project seeking funding or for their own business.
Avoid any conflict of interest in their investments.
Acknowledge the Terms and Conditions of Use of the website, included in the Legal Notice, which through registration and acceptance of these conditions, are accepted by the Member.
Assume their own costs and taxes arising from the investment.

The Member undertakes to hold Akka harmless from any damage or harm, direct or indirect, including lost profits, that may result from non-compliance with their obligations under these Terms of Use.

16. Akka’s Obligations

Akka undertakes to perform its role of intermediation and investment management in accordance with the principles of honesty, fairness, and professionalism, pursuing the best interest of its Members. Akka has an obligation of means and not of results, a distinction that the Member expressly acknowledges and accepts.

Akka cannot guarantee to the Member that the Services are error-free, defect-free, or always available. Furthermore, the Services are standard and do not adapt to the personal limitations of a single Member, nor are they specifically designed to meet the individual needs and expectations of the Member.

The information that Akka provides to the Member about the rights and obligations they assume by operating through the crowdfunding platform must be clear, impartial, timely, sufficient, accessible, objective, and not misleading.

However, Akka cannot be held responsible in any case for the data, information, or content provided by a Startup, whether publicly accessible or not. It cannot guarantee the accuracy of these elements, nor correct errors or omissions they may contain. In this sense, Akka assumes no responsibility for damages arising from the use of the content displayed, transmitted via email, or through any other means through the Site. Ultimately, Akka has no general obligation to monitor the data and content provided by Members or Startups.

Under no circumstances can it be interpreted that the information provided constitutes a recommendation, guarantee, or advice by Akka to the Member.

Akka undertakes to:

(i) take all reasonable measures to ensure the security of the Site; (ii) inform the Member of reasonably foreseeable difficulties, particularly concerning the implementation of the Services or the proper functioning of the Site; (iii) conduct periodic checks to ensure the operation and accessibility of the Site.

Additionally, Akka must comply in all its relations with the Member with the provisions of the applicable regulations.

Akka reserves the right to modify at any time the technical methods of access to the Services and/or the Site based on technological advances or the range of services. It is the individual responsibility of the Internet User and the Member to ensure that their computer and telecommunications equipment are adapted to such changes.

17. Disclaimer of Liability

17.1 Information Contained on the Site

The documentation and information published on the Platform are for informational and illustrative purposes only and do not constitute any form of investment, legal, accounting, or tax advice, or otherwise. All decisions made by the Member as a result of the Platform’s information will be made solely by the Member.

Akka has obtained the information and materials included on the Platform from sources considered reliable, but while reasonable measures have been taken to ensure that the information contained is correct, Akka does not guarantee that it is accurate, complete, or up-to-date, and consequently, it should not be relied upon as such. Therefore, it does not guarantee or assume any responsibility regarding damages and losses arising from the use and utilization of the Platform’s information, data, and services.

All information is provided by the Startups and is the sole responsibility of them. The Member expressly acknowledges that Akka does not verify or control the information provided by the Startups. It is the responsibility of the Members to collect and verify all the necessary information to make an investment decision.

The valuations of the Startups present on the Site are established by the Startups themselves and are presented to Members without Akka having evaluated their relevance. The publication of these valuations does not in any way constitute a guarantee of the company’s value. Members must collect all necessary information to form an opinion on the proposed valuation and determine whether the investment is appropriate.

The Member is aware that, unless otherwise indicated, the transactions offered on the Site are not subject to an information document approved by the Finansinspektionen or the European Securities and Markets Authority (ESMA).

The Member explicitly acknowledges that neither the advice nor the information, whether verbal or written, obtained from Akka or during the use of the Site, are likely to create guarantees or obligations that are not expressly provided in these Terms of Use.

17.2 Investments Made Through the Site

The Member expressly acknowledges being fully aware that any investment in the capital of Startups carries a high risk of total loss of the invested capital and a total lack of liquidity at the end of the expected investment period.

Members have exclusive control over the management of their assets and assume full responsibility for their investments. Members are responsible for making informed decisions about their investments, taking into account their personal, family, patrimonial, financial, and tax situation.

The Member acknowledges that any investment made through Akka involves significant risks to their assets, as explained above, and declares to accept them without reservation for each of the investments made through the Site.

The Member explicitly and irrevocably undertakes not to invest in financial products presented on the Site in the following cases: (i) if they believe they do not have sufficient information to fully evaluate the investment opportunity, (ii) if they believe that their understanding of the proposed financial product and associated risks is insufficient, (iii) if their personal, family, patrimonial, financial, or tax situation does not allow them to invest serenely given the risky nature of the financial product they intend to invest in.

In any case, Akka cannot be held responsible for an inappropriate investment and disclaims all liability for the consequences of any kind, including financial, legal, and tax, arising from the subscription of financial securities.

In particular, without this being considered an exhaustive list, the Member releases Akka, its partners, directors, and/or employees from any liability for:

The result of the Investment, including the total loss thereof, whatever the cause.
Any offense suffered by the Member before, during, or after the Investment.
Actions that may be taken by third parties (e.g., without limitation, the project founder, notaries, banks, entities in charge of payment platforms) during or after the Investment process.
Interruptions, failures, malfunctions, or errors in accessing the Platform or its content and services. However, Akka will do everything possible to correct errors, restore communication, and update content once it becomes aware of errors, disconnections, or lack of content updates.
Service interruptions, connection errors, unavailability, or defects in the Internet access service, nor for Internet network interruptions. Akka is not responsible for security errors in the user’s computer system (hardware and software) along with the files or documents stored due to the presence of a virus on the computer used to connect to the Platform’s services and content, nor for navigation errors due to browser malfunctions.
Cases of force majeure, including prolonged interruptions of power supply, telecommunications lines, social conflicts, strikes, rebellions, explosions, floods, acts and omissions of the government, and in general all situations of force majeure or fortuitous events.
And, in general, any direct or indirect damage caused to the Member, for any reason, before, during, or after the Investment.

18. Warnings and Risks

Investing in the projects published on the Platform may involve certain risks, such as the risk of total or partial loss of the invested capital, the risk of not obtaining the expected monetary return, or lack of liquidity. Therefore, we warn

Members to invest only an amount they are willing to lose and suggest diversifying their investments to minimize and mitigate potential risks.

You can find a description of the main risks at the following link.

Investments made through the Platform are not guaranteed. This means that neither the Platform nor the project founders guarantee the recovery of the investment or the obtaining of a minimum return. There is no guarantee fund that ensures the recovery of the investment or the obtaining of a minimum return.

19. Measures to Minimize Fraud Risk

Akka has designed and implemented policies and procedures to minimize the risk of fraud in its operations, having the necessary organizational measures and means to reduce such risks, including:

Collecting all necessary information before accepting the publication of projects. In this sense, it has defined a procedure to analyze and evaluate projects and their characteristics, as well as startups, cross-checking data both with publicly available information and requesting supporting documentation from third parties.
Periodically reviewing its procedures and systems to monitor operations carried out on the Platform.

PART IV – REFERRAL PROGRAM CONDITIONS

20. Purpose of the Referral Program

The Referral Program is designed to reward our Members who recommend new potential members to the Akka club, thus promoting the expansion of our community. By participating in this program, provided that the conditions of the Referral Program are met, both Members and new referees can benefit from discounts and rewards established in these conditions.

21. Participation in the Referral Program

Participation in the Referral Program is reserved for Members of the Akka club, provided they continue to be registered on the Platform. To be considered registered on the Platform, a Member must have completed all the information in their user profile and the KYC/KYB process successfully, as well as have made their first investment.

Participation occurs exclusively through the personalized referral link, which will be provided to the Member within their account on the Platform. The Member can access their referral link by logging into their profile, in the “Referral Program” tab where they will find the option to copy the link and share it with family, friends, and acquaintances.

The link must be shared personally and directly, respecting the prohibition of publication on online public channels or mass dissemination by any means. To be considered valid, the referee must register using that link.

22. Benefits

22.1 Benefits for the Member

Referral Reward: For each valid referee, i.e., accepted by Akka, who has completed registration on the Platform and paid the membership fee, the Member who referred them will receive a reward of €300.
This reward will not be granted or must be returned by the Member to Akka in case of cancellation of the Platform registration by the referee within 3 months following registration.
Each Member can receive a maximum of 10 referral rewards per year.
Discount for Multiple Referrals: Once a Member has referred 3 people, they will obtain a 50% discount on the renewal of their membership. This discount will be applicable only to the next renewal once the three valid referrals have been completed. Each Member can apply a maximum of 1 50% discount per membership.

22.2 Benefits for the Referee

Each new referred Member will receive a 10% discount on the first year’s membership fee, provided they register through the referral link provided by an existing Member.

23. Requirements for Referees

To be considered valid, a referee must:

Use the referral link provided by the Member.
Be accepted by Akka as a Member.
Complete the registration and KYC/KYB process and acquire a paid membership within 30 days of the referral.
Not cancel the Platform registration within two months following registration.

It is not allowed for a Member to refer themselves or refer people who share the same email address.

The program is valid only for recommending new Members who have not been Members previously.

Akka reserves the right to refuse referrals it deems unsuitable to join the club and community, without the need to justify its decision or implying compensation for the Member or the referee.

24. Limitations on the Use of the Referral Link

The referral link is exclusively for private use and cannot be published or disseminated on any online public medium or platform, such as websites, social networks, or public forums. Additionally, mass distribution of the link via unauthorized electronic means is strictly prohibited.

In case of detecting improper use of the link, the referral program and related benefits will not apply to either the Member sharing the link or the referees.

25. Terms of Payment of Benefits

The €300 referral rewards will be credited to the Member within 90 days of confirming the referee’s acquisition of the membership fee. The amount will be credited to the wallet the Member has opened on Akka.

The 50% discount for three referrals will automatically apply to the next renewal of the Member’s membership.

Rewards are non-transferable and not redeemable for other products or services unless explicitly indicated.

26. Modification or Cancellation of the Referral Program

Akka reserves the right to modify or cancel the Referral Program at any time without prior notice. Referrals completed before any modification or cancellation of the program will remain valid, and the corresponding rewards will be granted based on the terms in effect at the time of the referral.

27. Fraudulent Activity

Any fraudulent activity or attempt to manipulate the Referral Program will result in disqualification and revocation of benefits. Akka reserves the right to revoke any referral reward if it suspects, without having to justify its suspicions, fraudulent activities or violations of these terms and conditions.

28. Limitation of Liability

Akka will not be liable for any damages, direct or indirect, arising from the use or inability to participate in the Referral Program.

29. Acceptance of Terms and Conditions

By participating in the Referral Program, both the Member and the referee accept and commit to complying with these terms and conditions of the Referral Program.

PART V – GENERAL CONDITIONS

30. Cancellation of Subscription

30.1 By the Member

Regardless of the right of withdrawal, the Member may unilaterally cancel the contracted subscription and, therefore, unsubscribe from Akka at any time during its validity.

Cancellation can be made at any time during the validity of the plan. Such cancellation will take effect once the initial period of the one (1) year plan or the current renewal has ended, so the automatic renewal of the subscription will not proceed. From the moment of the cancellation notice until the end of the initial period or the current renewal, the Member can continue to make investments and access online resources.

Such cancellation or termination will not, in any case, result in the refund of amounts the user has paid as consideration for the subscription to the service. Such amounts are non-refundable.

To cancel the subscription, the Member must write an email to contact-nordics@akka.app

30.2 By Akka

Without prejudice to damages that Akka may claim, Akka reserves the right, at any time, to suspend or terminate the Member’s access to the Service and/or terminate the contractual relationship resulting from the subscription, without notice or compensation or refund of any part of the costs associated with the subscription and membership in the Akka club. In particular, in the following cases:

Circumventing or attempting to circumvent the technical protection measures established by Akka, or providing false, misleading, or inaccurate information when registering for the Service or using the Services;
Dissemination or use of information provided in the personal area contrary to the intended purpose;
Fraud, in any form, or attempted fraud, in any form, when registering for the Service or using the Services;
Total or partial non-payment by the Member of the remuneration due to Akka as established in these Terms and Conditions;
The Member has otherwise committed a material or repeated breach of the Agreement;
The Member no longer meets the present or future requirements for their admission;
There is unauthorized use of the product or there are reasonable grounds to suspect that such unauthorized use is occurring;
Violation of any of the commitments provided in these Terms and Conditions; or
Actions that are unfair or contrary to Akka’s commercial interests.

In case of violation by the Member and if they have made a payment, the Member will not be entitled to a refund of the amounts paid nor to continue accessing the Site. In the event that the violation is due to non-payment by the Member, Akka reserves the right to take actions that are legally necessary to enforce the monetary obligations arising from the subscription, including the request for corresponding late payment interest

30.3 Investments Made Before Cancellation

If you have invested in one of the projects presented by Akka through its Site, you will retain that stake until its conclusion by Akka through Akka’s exit from the Startup or the sale of that stake to another Member. In this sense, you will remain bound to Akka for that stake and must fulfill the obligations arising from obtaining a capital gain in the sale of such stakes, as established in clause 8.3 of these Terms of Use.

Likewise, in this situation, you can continue to access Akka’s platform solely to stay informed about the status and evolution of your investments. In no case can you make greater use of Akka’s platform than indicated or of the services it offers.

31. Intellectual Property Rights

Akka is the owner of the Site, including its technical, graphic, textual, and other aspects, with the exception of content provided by Members and Startups.

Consequently, Akka is the sole holder of the intellectual property rights relating to the Site, its content, and the databases that guarantee its operation. The use of the Site does not grant any rights to Members regarding these elements, except for rights associated with content provided by Members and Startups.

Acceptance of these Terms of Use implies that the Member acknowledges the intellectual property rights held by Akka as mentioned above and undertakes to respect them.

32. Member Support Service

Members can submit complaints and disputes via the following email address: contact-nordics@akka.app

Akka is obliged to manage and resolve complaints and disputes submitted by its Web Users and Members through any means to this service within one month of their submission. After this period, the interested party may contact the Finansinspektionen Complaints Service.

In any case, it is necessary to exhaust the route of the entity’s customer service department or service to be able to file complaints, but if you disagree with the response received, or if a month has passed without a response, there is a Complaints Service of the National Securities Market Commission (affiliated with the Finansinspektionen Members Department), to which you can submit a complaint through the following means:

Electronic submission of the complaint.
Form addressed to the Finansinspektionen Complaints Service: Brunnsgatan 3 in downtown Stockholm.

Additionally, a member assistance phone number is available: +46 (0)8 408 980 00.

33. Protection of Personal Data and Privacy Policy

During the use of the Site, Akka collects personal information from its Members. Akka is committed to complying with applicable privacy laws regarding the automated processing of personal data, as defined by Regulation (EU) 2016/679 of the European Parliament and of the Council of April 27, 2016, concerning the protection of natural persons with regard to the processing of personal data and the free movement of such data.

Akka commits to maintaining the confidentiality of personal information provided in this way. This information is intended exclusively for Akka for internal processing purposes and will not be shared under any circumstances with third parties for commercial purposes. This information and data are also stored for security reasons, to comply with the legal and regulatory obligations to which Akka is subject. These data are processed and stored by the hosting provider of the Site, as identified in the legal notice provided on the Site, under conditions that guarantee their security.

Akka reserves the right to use personal information collected in anonymous form, as well as technical and navigation information—such as the type of browser, Internet protocol address, pages visited, and average time spent on the Site—as part of activities related to the analysis and promotion of the Site.

Members are informed that their data may be disclosed in accordance with a law, regulation, or pursuant to a decision of a competent regulatory or judicial authority, or if Akka deems it necessary as part of a legal proceeding.

In accordance with GDPR regulations, you can exercise your rights by contacting Akka via email at the following address: contact-nordics@akka.app

For more information, please consult our Privacy Policy.

34. Assignment

The Member may not assign, transfer, delegate, or in any way substitute their contractual position towards Akka.

35. Contract Integrity

If one or more clauses of the Terms of Use are declared null and void pursuant to a law, regulation, or following a final decision of a competent court, the remaining clauses will retain all their force and scope to the extent of such decision.

36. Modification

Akka reserves the right to modify the Terms of Use at any time and without prior notice. Any modification will be communicated in the manner that Akka deems appropriate, particularly via email. If the Member does not express any objection within a period of ten (10) days, the modifications will be considered accepted and will take effect on the date indicated in the notification sent to the Member.

37. Applicable Law and Jurisdiction

The subscription is considered made in Swedish territory; therefore, for any interpretative issue or dispute that may arise, Swedish legislation will apply, and in case of dispute, both parties agree to submit, waiving any other jurisdiction that may correspond to them, to the jurisdiction of the Courts of the Member’s domicile.

Finally, we remind Web Users and Members that if they wish to file a complaint for any incident in the contractual relationship, they can submit the appropriate complaint by filling out the following electronic form: ec.europa.eu/consumers/odr/

Updated version: September 13, 2024