Fundfina Privacy & Storage Policy

1. Introduction and Summary

This is the Privacy Policy of Fundfina Technologies Private Limited and its affiliates operating within territory of India (together, “Fundfina”, “Fundfina”, “we”, “us” or “our”). Fundfina Technologies Private Limited is a company incorporated under Companies Act 2013 having Company Identification Number U72200JH2016PTC008813. We provide a platform (the “Platform”) via www.fundfina.com (the “Website”) for facilitating borrowing and lending between our customers. In return for Fundfina services borrowers and lenders pay a platform fee.

We are committed to protecting and respecting your privacy. This Privacy Policy explains and governs:

how we collect personal information belonging to visitors to our website as well as personal information belonging to Investors, Borrowers, persons connected with Investors and Borrowers (such as directors, partners, members, shareholders and beneficial owners), guarantors, persons connected with guarantors, those representing Borrowers and those who use Fundfina’s services (“you” and “your”, as appropriate);
how we store and protect your personal information;
how and why we use your personal information; and
your rights to control your personal information.

We will only process your personal information in accordance with the Information Technology Act 2000, (Indian) Contract Act (1872) and other applicable laws and regulations. In particular, we are committed to keeping your personal information confidential and will only give it to others for the purposes set out in this Privacy Policy.

Please read this Privacy Policy carefully. By accessing and using our website, Platform and services, you confirm that you have had a proper opportunity read this Privacy Policy, that you understand it and that you agree to it. If you do not agree to this Privacy Policy in its entirety, you must immediately cease use of our website and Platform, and any services provided by us.

We may amend this Privacy Policy from time to time to comply with applicable laws and regulations or to meet our changing business requirements. You are encouraged to periodically review this page for the latest information on our privacy practices and amendments to our Privacy Policy. By continuing to use our website or Platform you agree to be bound by all such updates and amendments.

Unless stated otherwise, capitalised words and phrases in this Privacy Policy shall have the meaning given to them in the Terms and Conditions for Investors and in the Terms and Conditions for Borrowers.

2. Collecting your Information

How do we collect your information and what do we collect?

2.1 If you engage with us in any way, we may collect the following information about you in a number of ways:

information you provide through our website and through our application and verification processes;
information you provide through communications with us, whether in writing (including email) or on the telephone (including by way of recorded calls);
information we obtain through your engagement with us on social media, including on blogs, forums and through Facebook, Google+, Twitter, etc.;
information provided on your behalf by your representatives or agents (“Agents”) who engage with us on your behalf in the ways described above; and
information from outside sources such as credit information companies, fraud prevention agencies, insolvency practitioners, debt advisers, recovery agents, commercial databases, marketing databases, public records and other publicly available information sources.

2.2 If you wish to become a member of the Platform you will need to provide us with the following information, which we may also collect from third parties:

your personal details (including name, date of birth, current and permanent postal addresses);
your contact information (including phone, mobile number and e-mail details);
(for Borrowers, those representing Borrowers and relevant Investors) your business name and contact information;
financial information (including bank or building society account details and details of debit cards used to make transfers on Fundfina);
information you provide in our registration or application processes (including, if you are a Borrower, Agent or relevant Investor, certain personal information, identity verification, contact details and financial information about directors, partners, members, shareholders, beneficial owners and guarantors);
information you provide in your dealings with us and through your interaction with the Platform;
if you are a Borrower or a director, partner, member, shareholder, beneficial owner or guarantor of a Borrower:

information about your business or company, such as previous credit applications and the conduct of your accounts, and similar personal credit information;
credit reference checks (see section 3 below for more detail)
electoral register information; and
fraud prevention information;
passwords and security question answers.

2.3 In addition to the personal and financial information you submit or we collect as described above, we may also collect information about your computer (including, where available, your IP address, operating system and browser type), your interaction with the Platform and our website, and email performance data, including for the purposes of Platform administration and service improvement. See our Cookies Policy

2.4 We also:

retain copies of our correspondence with you as well as other data we collect relating to your activities on the Platform and your arrangements with Fundfina;
collect details about visitors to our website for the purposes of aggregating statistics or reporting purposes and to calculate referral fees; and
retain comments made on blogs and discussion forums in connection with the Platform.

2.5 We may, particularly in relation to Borrowers, Investors or guarantors, be given sensitive personal information (such as medical information or criminal records). Where relevant, we will hold and process this information to allow us to make decisions about you and your accounts with us or with which you are connected. This may involve us sharing such information with your Agents. We will process sensitive personal information only in accordance with the requirements of the Information Technology Act, 2000.

Information you provide about other people

2.6 Where you provide information about other people (for example, if you represent a Borrower and you provide information about directors, partners, members, shareholders or beneficial owners other than yourself) then you confirm:

you have provided a copy of this Privacy Policy to such persons and you have ensured that they are aware of and understand the contents of this Privacy Policy; and
by providing such information, that you have all relevant permissions and authority (a) to make all such disclosures, (b) to act on their behalf and (c) in relation to partners, members, shareholders or beneficial owners of Borrowers, to allow us to make credit checks at credit reference agencies in respect of such persons.

3. Using and disclosing your information

Using your information

3.1 We collect, store and use your personal information:

to open accounts with us and to manage and maintain those accounts;
to verify your identity and the other information you have provided to us, including your bank account information and (if relevant) the identity of your business associates;
to update the records we hold about you from time to time;
to provide and administer the Platform and our related services;
to inform you of Platform developments and activity and of changes to our products and services;
to develop and improve our services, products and business, including analysing and improving our credit risk models and our customer service offering;
if you are a Borrower (or a director, partner, member, shareholder, beneficial owner or guarantor of a Borrower):

to ascertain your borrowing needs;
to assess your creditworthiness and to make credit-related decisions; and
if you miss any repayment of your loan, to trace your whereabouts and recover debts or enforce a Loan Contract and to verify any payment plan you have proposed or income and expenditure form you have submitted;

to transfer money;
to carry out mandatory or other regulatory checks;
to comply with our legal and regulatory obligations;
to carry out statistical analysis and market research and testing;
where you have given your consent:

to contact you (including by SMS and e-mail) with products and services which Fundfina think may interest you; and
to disclose your personal information to carefully chosen third parties so that they may contact you (including by SMS and e-mail) with products and services which they think may interest you or help you access credit; and
for the prevention and detection of fraud or other illegal or criminal activity.

Disclosing your information

3.2 We may disclose your personal information:

to other registered members of our Platform or to our affiliates, including as follows:

to operate the Platform and seek to match Investors and Borrowers;
in the Loan Contract and personal guarantee, when Investors and Borrowers are matched;
to provide transactional and performance information;
to provide updates (including where there are late repayments or where a risk-banding has been downgraded); and
if required to enforce (or make preparations to enforce) any Loan Contract. in which regard:

if you are a recipient of such information then you must only use such information (or any other information received about an Investor or a Borrower) to communicate with Fundfina about your Loan Contract; and
you acknowledge that Fundfina is not responsible for misuse of transactional or other information by Fundfina members but you must inform Fundfina promptly if you are the victim of any misuse of such information;

to companies in our group and our affiliates;
to our suppliers, sub-contractors and third party data processors (including card payment and direct debit payment processors, marketing and data analytics service providers, collection agents, tracing agents, insolvency practitioners, professional advisers and persons who provide us with the following services from time to time: identification and fraud check; marketing; technology; Platform support; and back-up and business continuity). These providers are only permitted to process your personal data on our behalf and in accordance with our instructions and we will take steps to ensure that such transfer and any on-going processing by such third parties is carried out securely and in accordance with applicable privacy law;
with any third party you have asked us to share your personal data with, including social media sites if you have asked us to connect with your social media account;
to Credit Information Companies and fraud prevention agencies (see section 4 below for more information);
where we are unable to provide you with credit and where you consent, to third parties who may be in a position to arrange credit for you;
to a third party if it acquires all or part of our business or assets in connection with the acquisition, or to a successor in interest in the unlikely event of our insolvency, winding up or liquidation;
where we are required to do so by applicable law and regulation, governmental, tax or regulatory body or law enforcement agency;
if you are represented by an Agent, to your Agent; and
to any other person with your prior consent to do so.

Storing your information

3.3 We operate as per accepted standards to protect all user information submitted to us, both during transmission and once we receive it. We do not collect or store any type of your information other than which you consent to as detailed above and during onboarding to the Fundfina platform. We do not collect or store any biometric data from you except where required as per extant statutory guidelines. All user information collected by us is only stored in servers located in India as per extant RBI guidelines and the IT Act and rules made thereunder. For other User Information collected as part of our outsourcing services being provided to our lending partners, we shall collect such information upon the instructions of the lending partners and thereafter transfer the same to the lending partners upon the completion of your onboarding.

3.4 Save as expressly provided above, or otherwise without your consent, Fundfina will not disclose, sell or rent your personal information to any third party.

4. Credit Information Companies (CICs) and Fraud Prevention Agencies

Credit Information Companies ('CICs')

4.1 From time to time we undertake credit reference checks against Borrowers and Investors (and against directors, partners, members, shareholders and beneficial owners of Borrowers and Investors), guarantors and Agents:

as part of the application process; and
if there are late repayments or default,

and by proceeding with an application then you consent to this.

4.2 When CICs receive a search request from Fundfina they will:

place a credit search “footprint” on your business credit file whether or not your application proceeds. If the search was for a credit application the record of that search may be seen by other organisations when you or your business applies for credit in the future;
place an enquiry or organisational search on the personal credit files of directors, partners, members, beneficial owners and shareholders that have been searched, as well as an associate enquiry search on your personal financial partner’s credit file, if they are a director;
link together the previous and subsequent names advised by you of anyone that is a party to the account;
place an enquiry or identification search on the record of any shareholder or beneficial owner and who Fundfina has checked; and
create a record of the name and address of your business and its proprietors (if there is not one already).

4.3 We will give details of all loans taken through the Platform and how they are managed to the CICs. If you borrow and do not repay in full and on time, the CICs will record the outstanding debt and, in some cases, the length of time that the debt remains outstanding; other organisations may see these updates and this may affect your ability to obtain credit in the future.

4.4 Any records shared with CICs will remain on file for seven years after your account is closed, whether any outstanding sums have been settled by you or following a default.

4.5 You can contact the CICs currently operating in India. The information they hold may not be the same so you may consider contacting them all. They will charge you a small statutory fee. They are:

CIBIL
Equifax
Experian
CRIF High Mark

False information and Fraud Prevention Agencies ('FPAs')

4.6 If you give us false or inaccurate information or if we suspect or identify fraud we may record this and may also pass this information to FPAs (such as EOW, FIU, SFIO, etc.) and other organisations involved in crime and fraud prevention including law enforcement agencies.

4.7 We and other organisations may access and use (a) this information in order to prevent fraud, money laundering or other criminal activity (for example, by checking details on credit applications, for managing credit and recovering debt), (b) information recorded by FPAs from other countries, (c) checking details on proposals and claims for all types of insurance, and (d) checking details of job applicants and employees.

4.8 Please contact us if you want to receive details of the relevant fraud prevention agencies.

5. Accessing and correcting your information

You may, at any time:

exercise your right to request access to certain personal records we hold about you (a subject access request), subject to payment of the fee specified by law. Please email contactus@@fundfina.com with the subject line “subject access request”;
request that we update and correct any out-of-date or inaccurate personal information we hold about you. You can email us at contactus@@fundfina.com, and also log-in to your Fundfina account and make changes yourself;
contact us to register your preferences for how we contact you; and
request that CICs provide you with information that they hold about you. You must contact them directly to do this.

6. Opting out

You may, at any time:

opt out of any marketing communications that Fundfina may send you; and
revoke consent already granted to collect personal data and if required, make the website and/or app delete/ forget the data; and,
tell us if you have changed your mind about us referring and disclosure you to a third party broker or lender.

Please contact us to tell us if you have changed your mind or, in relation to email marketing or data consent, unsubscribe following the link on an email you have received.

7. Security and other Third Parties

7.1 Whilst Fundfina takes appropriate technical and organisational measures to safeguard the personal information that you provide to it, we accept no liability if communications are intercepted by third parties or incorrectly delivered or not delivered.

7.2 If Fundfina transfers your information to third parties we will take steps to ensure that such transfer and any on-going processing by such third parties is carried out securely and in accordance with applicable privacy law.

7.3 The website and Platform contain links to other websites operated by third parties. This Privacy Policy applies only to the personal information that Fundfina collects and we are not responsible for personal information that third parties may collect, store and use through other websites.

You also have a responsibility to ensure that your information is kept secure. If you are a member of our Platform, you must:

keep your login details secret;
log out of your account when not using it;
try and maintain good internet security (for example, be careful when using public WiFi or shared access internet connections); and
tell us immediately if you think your account has been compromised.

8. Contact Us
You can contact us at support@fundfina.com.

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