1. Introduction
2. Definitions and Interpretation
3. User Identification, Account Creation, and Management
4. Services Provided
5. Rights and Obligations of Parties, and Liability
6. Application Submission and Evaluation Process
7. Conclusion of Loan Agreements and Disbursement of Funds
8. Service Fees
9. Payment Management on the Platform
10. Lemonway Account: Money-In and Money-Out
11. Collateral Agent
12. Loan Agreement Obligation Management, including Digilo and/or Collateral Agent's Rights in Case of Default
13. Individual Management of the Loan Portfolio (Auto-Invest)
14. Communication with Digilo: Notices, Complaints, and Dispute Resolution
15. Concluding Provisions
1.1. Digilo provides Users with a Platform that offers innovative and effective financing opportunities not only for Companies but also for Investors seeking to invest their funds in promising Projects. The aim is to promote access to capital by supporting Projects that contribute to economic and social development, while offering Investors attractive and low-risk investment opportunities.
1.2. These T&Cs are designed to ensure compliance with Regulation No. 2020/1503 and other regulatory acts. They are binding for all Users and are essential for ensuring transparency, security, and efficiency in the Services offered by Digilo.
1.3. The T&Cs regulate the usage of the Platform, including the conditions for creating a User account, the rights and obligations arising from the use of the Platform, the interrelations among Users, as well as the relations between Users and Digilo and the Collateral Agent.
1.4. The User has taken all necessary actions and possesses all required powers and rights to enter into contracts and fulfill the T&Cs. By accepting these T&Cs, the User that they have full capacity to act and are not under the influence of alcohol, narcotics, psychoactive, toxic, or other intoxicating substances.
1.5. By registering on the Platform, the User confirms that they have read, understand, agree to, and undertake to comply with the T&Cs. Providing such confirmation is considered as signing the T&Cs. Thus, a contract according to these T&Cs is concluded between the User, Digilo, and the Collateral Agent.
1.6. The Parties recognize electronic contracts and signatures as legally valid and binding. The methods of electronic signing may vary, including but not limited to qualified electronic signatures, two-factor authentication solutions (2FA), email authentication with a one-time code, ticking a checkbox, pressing a confirmation button, or other equivalent methods that signify the User's intent and acceptance of the contract.
1.7. To facilitate loan granting, Digilo provides Users with payment services through a third party – Lemonway. Therefore, by registering on the Platform, the User confirms that they have read and agree to comply with the Lemonway terms and conditions for the opening of a payment account (wallet) and the provision of payment services, available here: https://www.lemonway.com/en/terms-and-conditions
Important: Lemonway reserves the right to amend these terms at any time without prior notice.1.7.
1.8. The User agrees to the processing of personal data, which Digilo processes in accordance with the requirements of the General Data Protection Regulation (GDPR) and other applicable data protection laws. By registering on the Platform, the User confirms that they have read, understand, and agree to comply with the Digilo Privacy Policy, available here: [link].
1.9. By signing these T&Cs, the User agrees that Digilo may modify or update these T&Cs at any time at its own initiative. In such cases, Digilo will inform the Users in advance in accordance with the procedure set out in T&Cs Clause 14. Continuing to use the Platform after such changes constitutes the User’s agreement to these changes.
1.10. By agreeing to these T&Cs, the User undertakes to provide only true, complete, and valid information. The User assumes full responsibility for any damages incurred or that may be incurred by Digilo or third parties due to the provision of false or incomplete information.
1.11. The User acknowledges that the Services provided by Digilo and the investments made through the Platform are not covered by deposit guarantee systems established under Directive No. 2014/49/EU of the European Parliament and the Council, nor are they protected by investor compensation schemes set out under Directive No. 97/9/EC of the European Parliament and the Council. Thus, investing through the Platform involves risks, including the risk of partially or completely losing the invested funds. By agreeing to these T&Cs, the User acknowledges, understands, and accepts the risks associated with using the Services provided through the Platform.
1.12. The User grants Digilo permission to use the content for the Platform's marketing and information distribution needs.
1.13. Users undertake to use the Platform solely for lawful purposes and to comply with all applicable legal regulations and these T&Cs (including refraining from using the Platform for fraud, market manipulation, insider trading, money laundering, financing of terrorism or the proliferation of weapons, or the circumvention of sanctions). In the event of violations, the Platform reserves the right, in accordance with the procedure set forth in these T&Cs, at its own discretion and without prior notice, to terminate or restrict any person's access to the Platform, without any liability on the part of the Platform for any potential losses or damages that may result for the User from such actions.
1.14. By registering and using the Platform, the User represents, warrants, and covenants that neither the User nor any persons associated with the User are listed on any national, EU, UN, OFAC, or other applicable international sanctions lists. Furthermore, the User confirms that all financial funds used for payments related to the Platform’s services have been lawfully obtained and are not derived from, or connected to, any criminal activities, including but not limited to money laundering or the financing of terrorism.
Terms and abbreviations in these T&Cs, used with a capital letter in singular or plural, are defined in this section and applicable throughout the document, except when the context requires a different interpretation:
2.1. T&Cs – these Digilo Platform’s Terms and Conditions.
2.2. Regulation No. 2020/1503 – Regulation (EU) 2020/1503 of the European Parliament and of the Council of October 7, 2020 on European crowdfunding service providers for business, amending Regulation (EU) 2017/1129 and Directive (EU) 2019/1937.
2.3. Digilo – CSP Growth Solutions SIA, registered in the Republic of Latvia (registration No. 40203585248, registered address Bukultu Street 11, Riga, Latvia, LV-1005).
2.4. Platform – a publicly accessible web-based site managed by Digilo with the domain name www.digilo.co, through which Digilo provides Services to Users.
2.5. Services – crowdfunding services provided by Digilo, specifically matching the financing interests of Investors and Project Owners on the Platform, which involves facilitating the granting of loans, as well as related ancillary services, for the provision of which Digilo has been issued a crowdfunding service provider's license by the Bank of Latvia in accordance with the requirements set forth in Regulation No. 2020/1503.
2.6. Company – a business or economic activity entity regardless of its legal form, which provides services or produces goods for the market and directs its activity towards profit-making.
2.7. Application – a loan request submitted on the Platform by a Company or its representative on behalf of the Company, without creating a User account.
2.8. Borrower – the Company whose User account has been activated by Digilo on the Platform as a project owner, and which intends to attract or has already attracted Financing through the Platform.
2.9. Investor – any natural or legal person registered on the Platform as an investor to whom Digilo has activated a User account.
2.10. User – any Investor and Borrower.
2.11. Project – a crowdfunding project that is a business initiative with clearly defined objectives related to the expansion or development of the Company's business, while the Borrower uses the Services provided by Digilo to attract Financing to achieve these goals. The Project may include, for example, the development of new product lines, increased production capacity, market expansion, or technological improvements.
2.12. Offer – A call on the Platform for Investors to enter into a Loan Agreement (offer), including essential elements and conditions of the Loan Agreement such as the Project, Target Amount, Interest, and repayment schedule, aimed at raising the Target Amount.
2.13. Loan Agreement – A loan agreement concluded via the Platform between an Investor and a Borrower, manifested by the Investor's unconditional acceptance of the Offer, allocating a Loan in accordance with the terms of the Loan Agreement.
2.14. Loan – The sum of money that an Investor, through the Platform, makes available to a Borrower for a specified period and under specified conditions by entering into a Loan Agreement.
2.15. Collateral – Real estate collateral offered by the Borrower as a guarantee for the fulfillment of obligations arising from one or more Loan Agreements, which result in raised financing.
2.16. Collateral Agent – CSP Assets SIA, registered in the Republic of Latvia (registration No. 40203682810, legal address Bukultu Street 11, Riga, Latvia, LV-1005) appointed by Digilo to manage the Collaterals provided to secure Investors’ interests and ensure the fulfillment of obligations arising from Loan Agreements. The Collateral Agent acts in its own name but in the interests of the Investors, carrying out operations and transactions with Collaterals as per instructions provided by Digilo.
2.17. Loan Terms – Digilo’s Crowdfunding Loan Terms applicable to each Loan and forming an integral part of the Loan Agreement, available here: [link].
2.18. Financing – The total sum of Loans granted for financing a Project, equaling the Target Amount, which the Borrower commits to repay under the terms included in the Loan documents, including paying Interest, Management Fees, and other related payments.
2.19. Loan Documents – All documents related to the financing provided to the Borrower, including but not limited to Loan Agreements, agreements on securing the respective Collateral (e.g., mortgage agreements), and others.
2.20. Lemonway – Lemonway SAS (a simplified joint-stock company registered in the Paris trade and companies register under the legal entity code: 500 486 915, address: 8, rue du Sentier 75002 Paris, France), approved as a payment institution by the French Prudential Supervision and Resolution Authority (ACPR) with a CIB number 16568 RCS.
2.21. Interest – The compensation that an Investor receives from the Borrower for the use of the Loan as specified in the Loan Agreement.
2.22. Investment Basic Information Sheet – A document prepared for each Offer individually and drafted in accordance with Regulation No. 2020/1503 requirements, including information about the Borrower and the Project.
2.23. Suitability Test – An assessment conducted via the Platform to evaluate an Investor’s knowledge and understanding, including their ability to bear potential losses through simulations. This process allows Digilo to determine whether its services are appropriate for the Investor. Based on the test results, the Investor is classified as experienced or inexperienced in accordance with Regulation No. 2020/1503.
2.24. Target Amount – The amount of funding indicated in the Offer that the Borrower aims to raise via the Platform, covering the necessary financing for the Project implementation and may include other fees specified in the Loan Documents, including Digilo’s commission fee.
2.25. User Account – A personal subpage or multiple subpages created for the User on the Platform, through which they can access Services after being authorized by Digilo. These include the ability to issue Loans, conclude Loan Agreements, review transaction information, Lemonway account balances, and other Platform activities, as well as obtain additional information, receive support, and use all other features offered by the Platform depending on the user role.
2.26. Offer Approval Period – The time period during which Investors can review the Offer on the Platform and express their unconditional consent (acceptance) to it, thereby concluding a Loan Agreement.
2.27. The use of other terms and abbreviations conforms to the terms used in Regulation No. 2020/1503.
2.28. A reference to a particular regulation is a reference to it, as it is in force for the time being, taking account of any amendment, extension or re-enactment, and includes any subordinate legislation for the time being in force made under it.
2.29. A reference to a time of day is a reference to Eastern European Time (GMT+2).
2.30. A reference to Digilo, Collateral Agent, the Investor, the Borrower or any other person includes their respective successors in title, permitted assigns and permitted transferees.
2.31. In the absence of any conflicting indication words in the singular include the plural, and in the plural include the singular.
To use the Platform and its Services, i.e., to conduct transactions via the Platform, one must register on the Platform and create a Lemonway payment account (wallet). Transactions on the Platform are only possible after the Lemonway payment account has been established and Digilo has activated the User account following all necessary verifications.
Digilo reserves the right at any time, at its discretion, to reject any individual’s application for registration on the Platform and to refuse to open a User account without the need to provide justification for such action. Digilo also reserves the right to impose additional requirements for the registration process on the Platform or to modify existing requirements at any time.
Physical persons who have reached the age of 18 and are residents of any European Economic Area member state, as well as legal entities registered in any European Economic Area member state, can register on the Platform as Investors. The person in whose name the User account is opened must also have an operational account in their name at a licensed credit institution in a European Economic Area member state. A legal entity must ensure that access to its settlement account in the credit institution is only available to its legal or contractual representative.
Companies that have submitted an Application through the Platform either independently or via a representative can register on the Platform as Project Owners. After Digilo has performed the actions specified in the T&Cs clause 6, the Company receives a hyperlink at the email address specified in its Application, enabling it to register on the Platform.
Concurrently with registration on the Platform, a Lemonway payment account (wallet) is automatically created for the User without the need to apply separately.
Upon registering on the Platform, the individual provides all information necessary for opening the User account, including identification of the specific individual and associated persons as requested by Digilo and/or Lemonway. This includes entering their email address and creating a password.
Digilo has the right at any time and at its discretion to access private and/or public information databases without prior permission from the User or related individuals, necessary for conducting verifications.
According to the mandatory requirements arising from the regulation, every Borrower who is a legal entity must maintain a valid Legal Entity Identifier (LEI code) throughout the validity period of the Loan Documents. Digilo may offer assistance in obtaining the LEI code, with costs associated with acquiring and maintaining the code to be agreed upon separately by the parties.
Before opening a User account, Digilo and/or Lemonway perform a verification of the physical or legal person wishing to register on the Platform, including identity and compliance verification according to their internal procedures.
The Platform operates in accordance with applicable anti-money laundering and counter-terrorism financing (AML/CTF) regulations. All Users (including prospective ones who have submitted an application for registration on the Platform) are subject to a proper customer due diligence (KYC) procedure, which includes verification of personal identification documents and other information to ensure compliance with AML/CTF requirements. These verifications are conducted by Digilo together with Lemonway according to their internal AML/CTF and KYC policies and procedures. For this purpose, from the time of submitting the registration application and throughout the duration of the User account, the User is obliged to provide all information and documentation required by Digilo to meet the requirements arising from AML/CTF regulations. Digilo has the discretion to determine the acceptability of the information.
The physical or legal person submitting the registration application and/or their related parties are subject to applicable international sanctions (including UN, EU, and US OFAC sanctions lists) and/or there is reason to believe that it is related to a person, company, region, or regime, or services that are subject to sanctions;
The verification results raise doubts about direct or indirect risks associated with international and national sanctions violations, laundering of criminally obtained funds, financing of terrorism and proliferation, and other illegal activities, including future risks. For example, the person operates in a high-risk country or territory with a high level of corruption risk, a high rate of criminal activities that may result in the legalization (laundering) of criminally obtained funds, or that provides financing or support to terrorist activities, etc.
The person and/or their related parties have been convicted or are suspected of laundering criminally obtained funds, financing terrorism, fraudulent or other illegal activities;
The person has knowingly or through gross negligence provided incorrect or incomplete information to Digilo and/or Lemonway, or refused to provide any requested information and/or documents, including to confirm their identity, representation, ownership, and other related parties, and ownership structure, and has not complied with the requirements in this regard (e.g., regarding the issuing authority of requested documents, language, etc.);
Upon request by Digilo and/or Lemonway, fails to provide sufficient information and/or documents to prove the legality of their funds' origin.
Digilo informs the User individually about the activation of the User account.
To log into the User account, the User uses their email address and password, which must not be disclosed to third parties. All actions performed on the Platform after authentication are considered binding for the User. Digilo assumes that any person using the User's access credentials is authorized to act on behalf of the User and does not assume responsibility for any unauthorized access. Based on suspicions by Digilo or if the User informs Digilo of a data leak, Digilo may restrict access to the User's account or refuse to execute requests made therein.
To enhance the security of User accounts, protect sensitive information, and ensure that all actions on the Platform that are binding for the User correspond exactly to the User's actions, avoiding unauthorized access or manipulation, Digilo has the right in certain cases to require Users to use additional identification methods. These methods may include, but are not limited to, a secure electronic signature, Smart-ID, or other electronic authentication tools, two-factor authentication (2FA), including a one-time password (OTP).
The User has an obligation to immediately update their personal data, contact information, information about their representatives (if any), and other information provided about themselves on the Platform, or to inform Digilo of any changes in this data. Digilo assumes no responsibility for any consequences arising from false, outdated, or inaccurate information provided by the User.
After opening the User account, Digilo invites each Investor to undergo a Suitability Test to assess their financial knowledge and ability to cover potential losses. Digilo at its discretion determines the method and frequency of categorizing the Investor. The Investor must provide the necessary information for the assessment. The Investor's category will be displayed in the User account and will be notified to the Investor in writing.
Investors who have not passed the Suitability Test or whose results indicate insufficient knowledge are classified as inexperienced according to Regulation No. 2020/1503, and Digilo may limit their access to Services in an objective and non-discriminatory manner. If, after collecting data and documents provided by the Investor, Digilo determines that an Investor is to be classified as inexperienced, the Investor is only allowed to use the Services after Digilo has assessed whether and which of its Services are suitable for that Investor. If Digilo concludes that its Services may be unsuitable for the Investor, Digilo issues a risk warning. In such cases, the Investor may start using the Services only after they clearly acknowledge that they have received and understood the warning.
Digilo performs periodic Service suitability reassessments (repeated Suitability Tests) for Investors who, based on the results of their most recent assessment, are classified as non-sophisticated investors, at intervals no less frequent than every 18 (eighteen) months from the date of the last Suitability Test, in accordance with the requirements set forth in Regulation No. 2020/1503.
Digilo reserves the right to limit Services in a User’s account, suspend, or close any User account, including, but not limited to, in the following cases and under the following conditions:
If fraudulent behavior, activity posing security risks, or any other action that threatens the integrity of the Platform or User safety is detected (in emergencies, termination of Loan Agreements is also permissible).
If, within one month after the activation of the User account, the Investor has not deposited funds into their Lemonway payment account on the Platform, indicating an interest in using the Services;
If, despite the presence of funds in their Lemonway account, the Investor has not been a party to any active Loan Agreement for six consecutive months, indicating a further interest in using the Services;
If, after having been active on the Platform, the Investor has withdrawn all funds from their Lemonway account and for at least three months continuously has not been a party to any active Loan Agreement, indicating a further interest in using the Services.
Borrower User accounts within one month after the complete fulfillment of obligations arising from the Loan Documents, unless there is information about conditions that require postponing the closure of the User account (for example, if the Borrower plans to prepare and submit a new Project for evaluation, thus making the closure of the User account unwise). In such cases, Digilo evaluates the situation and makes an individual decision about the User account status.
The User may request the closure of their User account at any time. Upon receiving the request, Digilo confirms its receipt within ten (10) business days and informs the User of the timeline within which their User account will be closed, after conducting an inspection to ascertain if there are any unprocessed transactions or unfulfilled financial obligations. If unprocessed transactions or unfulfilled financial obligations are discovered, Digilo informs the User about the necessary actions to fulfill these obligations. Any positive balance reflected in the User account is transferred by Digilo to the bank account specified by the User or returned according to a procedure separately agreed with the User. The closure of the User account takes effect only after the full fulfillment of all financial obligations and the transfer of funds. Digilo reserves the right to refuse to close the User account if there are active legal or financial obligations that hinder this process (for example, if the particular User is a party to an active Loan Agreement).
Except in cases where significant, irreversible violations of laws and/or these T&Cs, other emergency situations, or special circumstances are detected, or if it occurs at the initiative of the User, Digilo primarily aims only to limit the Services or suspend the operation of the User account. Before permanently closing the User account, Digilo gives the User an opportunity to rectify the identified deficiencies, if possible. If the deficiencies are not rectified within the specified timeframe, Digilo is entitled to fully close the User account.
To ensure transparency and fair conduct, Digilo sends the User a notification of the possible suspension or closure of their User account to the specified email address at least ten (10) days before the planned action. This notification is sent, except in emergencies when immediate action is necessary to protect the interests of Users, the Platform, and other parties, or when laws or regulatory orders dictate otherwise. The notification specifies actions that the User can take to avoid the full closure of their User account. The User has the right to submit written objections, justifying why, in their view, the operation of their User account should be restored. Digilo carefully evaluates this information and makes the final decision, which it promptly informs the User about. This decision is final and indisputable. Despite the foregoing, Digilo reserves the right to restrict access to Services in the User account without prior notice.
If Digilo suspends or closes the User account, all funds in or invested in this account will be processed according to the T&Cs, applicable laws, and concluded agreements. In this process, Digilo prioritizes the interests of the User, and, unless otherwise specified in laws and/or orders of competent authorities, Digilo cooperates with the User to agree on the most appropriate and fair solution for recovering or transferring the funds. This includes returning the funds to the User's specified bank account or, if the funds were invested, agreeing on the conditions for the liquidation or sale of these investments according to applicable laws, agreements with the User, and market conditions.
The User is liable for damages caused to Digilo, the Collateral Agent, and other parties resulting from non-compliance with T&Cs.
The User is prohibited from transferring, sharing, pledging, or alienating the rights to their User account to any third party, including other Users. In the event of the User's death or incapacity due to illness, a duly authorized representative may request access to and management of the User's account only after contacting Digilo and submitting all necessary legal documents proving the authorization. Digilo grants access only after thoroughly verifying and confirming the validity and compliance of these documents with applicable laws.
Access and review the Offers posted on the Platform and the information provided about them;
Express consent to an Offer, thereby concluding a Loan Agreement and issuing a Loan;
Receive information related to the concluded Loan Agreements and other services provided by Digilo;
Conduct or receive transfers via the Platform;
Individual management of loan portfolios.
Digilo manages the Platform without assuming any risks, acting as a neutral intermediary between Investors and Borrowers. Digilo’s main objective is to facilitate the connection of these parties through the Platform and to facilitate the issuance of Loans – its role is limited to providing technical solutions (e.g., facilitating the conclusion of Loan Agreements), posting Offers on the Platform, evaluation of Projects, Project Owners, and Investors, setting prices for Projects or Borrowers, evaluating credit risks, and servicing Loans, including engaging a Collateral Agent to handle processes related to Collateral and their services.
Asset custody services and individual or collective asset management services;
Accepting deposits or other repayable funds and granting credits or other financial resources on its own account and/or in its own name;
Crowdfunding services provided to project owners who are consumers, as defined in Article 3(a) of Directive No. 2008/48/EC, and related services;
Investment and/or legal consulting;
Conducting or consulting on transactions in real estate;
Loan repurchase guarantees or any other guarantees regarding the non-fulfillment of obligations arising from Loan Agreements.
Digilo and/or the Collateral Agent are not parties to the Loan Agreement but perform administrative functions within its execution. In certain cases, they have the right to rely on the terms of the Loan Agreement and demand its specific performance in their own name.
To obtain a Loan, the Borrower must conclude a Loan Agreement with an Investor as prescribed in these T&Cs. An unlimited number of Loan Agreements may be concluded to secure the Target Amount.
Offers are only posted on the Platform if they are secured by real estate (Collateral). To strengthen investor protection, Digilo and/or the Collateral Agent may at any time accept (and in relevant cases, demand) additional collateral from the Borrower, which may include, but is not limited to, personal guarantees, liens, guarantees, or any other suitable form of security. These measures are taken to enhance the guarantees of performance under the Loan documents. The initial real estate pledged as the main Collateral must not be changed throughout the duration of the Loan Agreements.
The performance of obligations by Users, especially Borrowers;
Any losses or expenses arising from incorrect or misleading information provided by Users;
Actions performed in a User’s account using forged, stolen, or otherwise obtained authentication data, and damages and losses arising from such unauthorized access;
Any losses or damages resulting from unauthorized third-party access to the system, technical failures, cyber-attacks or data protection breaches, and access problems to the Platform due to technical glitches;
The speed of payment services;
Any losses or expenses arising from the use of the Services, including but not limited to technical issues, incorrect information provided, or actions of third parties, unless caused by Digilo’s intentional misconduct or gross negligence.
Any losses related to the Projects, communication between Users, or other external factors.
Any losses associated with the suspension or closure of a User’s account or temporary or permanent restrictions of Services and other related activities, as stipulated in these T&Cs.
Any changes or decreases in the value of Collateral, as well as consequences arising from the fluctuation of the loan-to-value ratio (LTV) as specified in Project descriptions and/or Offers. Investors acknowledge that such changes may occur due to factors beyond Digilo’s control, including market fluctuations, natural wear and tear, force majeure, and other unforeseen reasons. Investors accept and assume all risks associated with such changes in Collateral value and LTV.
Service interruptions or any losses incurred due to extraordinary and unforeseeable circumstances (Force Majeure), including natural disasters, political conflicts, internet disruptions, or similar conditions.
Digilo may occasionally conduct promotional campaigns and offer loyalty programs or other benefits to Investors and/or other Platform Users. The terms and conditions for these campaigns, programs, or other benefits will be published on the Platform. If an Investor wishes to benefit from a campaign, loyalty program, or receive other benefits, they are deemed to have agreed to the terms and conditions published on the Platform, which have been made available to Investors accordingly. Digilo reserves the right to modify the terms and conditions of its campaigns, programs, and other benefits at its discretion, effective immediately or upon prior written notice. These terms and conditions may also be published as page content on the Platform without being labeled “Terms and Conditions” and may vary depending on the Investor and other Platform Users.
The Platform accommodates two types of Users – Investors and Borrowers. Each category of Users has specific rights and obligations designed to optimize their interaction on the Platform. Depending on the User's role, the available features and range of Services in the User’s account may vary, thus providing each type of User with tailored tools and opportunities for effective operation on the Platform.
All activities carried out in their User account, including transactions and conclusion of Loan Agreements, evaluating Services (must independently assess the compliance and risks of respective activities);
Payment of all taxes, fees, and other mandatory payments related to concluded Loan Agreements, received Services, and any other activities carried out using the Platform, in accordance with the laws applicable to the User. The User must ensure that all financial obligations to the state are fulfilled timely and in accordance with current regulations;
Using their User account only for lawful purposes;
Providing true, valid, timely, and relevant information and documents to Digilo, the Collateral Agent, or Lemonway upon their request;
Not sharing their User account access data, including username and password, with third parties and ensuring its secure storage to prevent access by anyone other than the User;
Assessing and managing the risks associated with making investments (issuing Loans) and receiving Loans, providing Collateral;
Regularly updating and refreshing their information, including information about representatives and beneficial owners, contact information (especially email, which is the official source for sending notifications) to always reflect current circumstances;
Respecting intellectual property rights when using the contents offered on the Platform;
Proper fulfillment of all contracts, including obligations arising from Loan Documents;
Ensuring that communication with Digilo, the Collateral Agent, and other Users is respectful;
Maintaining and updating their computer systems, software, and other technologies, as well as ensuring a secure internet connection to facilitate effective and safe access to the Platform, avoiding public or insecure Wi-Fi networks.
To review, evaluate, and finance Projects that are published on the Platform by concluding Loan Agreement(s), including access to information about Projects and all associated documents published by Digilo on the Platform;
To use the Platform’s tools to make investments (issue Loans) according to their financial goals and risk profiles;
To receive regular reports and updates on the project status, including information on delays or non-fulfillment of obligations and the status of debt recovery actions;
To request and receive repayments in accordance with the concluded Loan Agreements, Loan Terms, and these T&Cs, including from the realization of Collateral, if such has been executed;
To access their User account and conduct payments therein, including making deposits and withdrawals to/from the Lemonway account, respecting the balance available in the User’s account;
To provide Digilo with suggestions, instructions, and opinions regarding necessary actions in the debt recovery process, provide information about the Project or otherwise assist in the recovery process. Digilo evaluates and considers this information in each case, but these suggestions are not binding on it.
To comply with the T&Cs;
To continually provide true and accurate information both at registration and at any other time, as well as to submit all necessary documents and information that Digilo, the Collateral Agent, and/or Lemonway deem necessary to request, promptly fulfilling such requests;
Investors are strictly prohibited from direct communication with the Borrower or any person related to the Loan Agreement. Any claims or actions related to the Loan Agreement, including requests for payment and execution measures, including but not limited to sending warnings, objections, initiating legal actions, starting debt collection processes, must be carried out using Digilo and/or the Collateral Agent as mandatory intermediaries.
To submit projects to Digilo for evaluation, providing all information and documentation required by Digilo for the project assessment in accordance with Digilo's internal documentation and Regulation No. 2020/1503;
To receive funding from loans issued by Investors following their approval and fulfillment of eligibility criteria, as well as after securing the Target amount on the Platform and upon fulfilling the obligations stipulated in the Loan documents;
To discontinue funding the project during the approval period according to the Platform's terms, if necessary.
To accurately describe the project's goals, expected outcomes, and the plan for using the funds;
To repay the Loans and Interest according to the timelines and conditions set out in the Loan documentation;
To inform Investors and Digilo without undue delay of any significant changes in the project implementation or Borrower's operations;
To continuously provide true and accurate information at registration and at any other time, and to submit all necessary documents and information that Digilo, the Collateral Agent, and/or Lemonway deem necessary to request, fulfilling such requests promptly;
Borrowers are not allowed to perform any actions that could jeopardize the protection of Investors' interests, such as borrowing more funds than necessary or using the borrowed funds for unintended purposes.
The User must use the Platform only in accordance with the T&Cs and for lawful purposes, avoiding any illegal activities such as fraud, money laundering, and financing of terrorism. The User must use standard web browsers and refrain from using automated tools and systems designed for automatic data extraction or processing, including data scraping, reading, or other manipulation attempts on the Platform. Security protocols must also be followed, preventing third parties from accessing the User's account and data. Any data or account security problems or information changes must be reported to Digilo immediately.
The User assumes full responsibility for any losses incurred due to delayed, false, inaccurate, or otherwise inappropriate provision of information and documentation. Although Digilo has the right to check the compliance of submitted information and documents, it is not obliged to do so and does not assume any responsibility for the accuracy and truthfulness of the information provided by Users.
To make changes to the Platform's functionality at any time without prior notice;
To suspend or close a User's account and terminate the User's access to the Platform at any time if, in Digilo's opinion, the User has violated these T&Cs, any other applicable laws, or has engaged in, or attempted to engage in, fraudulent activities. Digilo also has the right to act if it detects other illegal, unethical, or Platform-disruptive activities. Digilo can use these rights if it believes that the User's actions could negatively affect the Platform's reputation or the safety and well-being of other users;
To educate and inform Users about best practices for using the Platform, the range of Services, investing, etc.
Digilo has unlimited rights to request any information and documents from Users at any time and to ensure that Users are obligated to promptly fulfill these requests, providing true and accurate information and the necessary documents, including those intended for delivery to the Collateral Agent and/or Lemonway for the full provision of their services.
To ensure the continuous operation and security of the Platform;
To protect the data provided by Users, especially personal and financial data;
Not to disclose confidential information to third parties, except as provided in regulatory acts.
To ensure equal and fair treatment of Users.
A Company wishing to attract funding for its collective financing project initiative is entitled to submit an Application using the form available on the Platform without registering. In the Application, the Company and/or its representative provide precise information about the Company, the Project, the required funding amount, contact information, and other details as requested by Digilo.
Upon receiving the Application, Digilo contacts the Company using the provided contact information to clarify additional details and specify the necessary information and documents to be submitted.
Digilo is entitled at any time to request the Company to provide all necessary information and documents that Digilo deems necessary for the evaluation of the Application, including identification of the Company, related persons, beneficial owners, origin of funds, and any other assessments that Digilo considers necessary.
After receiving the Application, Digilo independently evaluates the Project, the information, and documents received, assessing the Project's compliance with the Platform, regulatory requirements, and Digilo’s internal documentation, which sets the criteria for Project selection.
Digilo is entitled to make inquiries to third parties, in any relevant registers, and use other sources to gather any information for the evaluation of the Application, including, by separate agreement with the Company, ordering an appraisal report for the real estate offered as Collateral from an independent appraiser at the Company’s expense.
Digilo may reject the Application at its discretion without explaining the reasons for such a decision, including, but not limited to, cases where the evaluation of the Company, its representative, and the Project reveals the following conditions:
Conditions referred to in T&Cs Clause 3.11;
The Company does not provide sufficient and/or truthful information about the Company, its operations, financial condition, its representatives, related persons, and other information requested by Digilo, which prevents Digilo from conducting necessary checks;
Providing services to the Company may create direct or indirect risks associated with violations of international and national sanctions or legalization of criminally obtained funds and other illegal activities;
Reputational risks or circumstances associated with the Company or related persons are identified that may indicate that the Company's operations or Project could be contrary to the public, Investors, or Digilo’s ethical norms and values, which could negatively affect the Platform or its Users’ trust;
Apparent unfeasibility of the Project or excessive risk level, considering the market situation or the specific industry;
The Company cannot or is unwilling to offer real estate as Collateral and/or the Collateral is disputed, legally contestable, does not meet Digilo’s requirements or standards;
Collateral value: verification that the real estate is of sufficient value to cover potential losses if the Company fails to meet its obligations;
Liquidity: assessment of the Collateral’s realizability and accessibility to ensure that Investors can recover their investment efficiently and effectively;
Legal requirements: verification of the Collateral's compliance with all binding legal and regulatory standards.
Potential conflicts of interest identified in the Project that could jeopardize the protection of Investors’ interests;
Legal issues related to the Company or associated persons, such as litigation or previous legal disputes, involvement in fraud, financial crimes, or other illegal activities;
Unstable financial condition, negative credit history, and other circumstances that may raise doubts about the feasibility of fulfilling obligations.
If Digilo assesses the submitted application as compliant with the Platform's requirements, it shall send an indicative offer to the Company. If the Company confirms the offer, it shall be invited to register on the Platform in accordance with the procedure described in Clause 3.4 of the Terms.
The Borrower is fully responsible for preparing a comprehensive Offer, which must at least include information about the Loan Agreements planned to be concluded for financing the specific Project and its essential components. To ensure that the prepared information complies with the requirements set by Digilo and Regulation No. 2020/1503, is correctly formatted, and simplifies the client experience, Digilo provides consultations and support, including explaining what information the Borrower needs to include in the Offer. However, the Borrower controls and assumes responsibility for the final content and truthfulness of the information included in the Offer. After the Offer is fully completed and confirmed with Digilo, it can be published on the Platform and made available to all Users for the Offer confirmation period. Digilo, at its initiative, may assign a risk rating to the Offer or provide Investors with other information, such as regarding the Borrower's credit risk.
Digilo reserves the right to make changes to the Offer in exceptional cases when there are significant reasons, at any time until the end of the Offer confirmation period. These changes may affect the Target Amount, Interest Rates, Loan Terms, or other essential components of the Offer. All changes are immediately notified to Investors who have already concluded Loan Agreements, justifying the necessity of such actions. If these changes worsen the conditions for Investors, they have the right to unilaterally terminate the Loan Agreement; in such a case, Digilo ensures that the Loan amount is returned to the specific Investor who terminated the Loan Agreement to their Lemonway account, and that information about this action is available on the User's account. Before making changes to the Offer, Digilo is obliged to carefully assess their potential impact on concluded agreements, acting purposefully to mitigate any negative consequences.
If Digilo deems the submitted Application acceptable, it may publish the Project on the Platform. Information provided by the Company, including, but not limited to, data about the Company, the Project, financial information, risk category assigned by Digilo, and any other information that Digilo considers necessary, is published and made available to other Users. This publication of information is considered a binding Offer and an invitation to Investors to conclude Loan Agreement(s).
To grant a Loan, the Investor concludes a Loan Agreement with the Borrower for the specific Loan through the User's account during the Offer Confirmation Period. The Loan Agreement is considered concluded at the moment when the Investor unequivocally accepts the Offer on the Platform (including confirmation that they have read and agree to the Loan Terms) and disburses the Loan to the Borrower according to the provision of these T&Cs. Following these actions, the Platform generates and makes available a copy of the Loan Agreement on the Platform for the Investor.. Upon concluding the Loan Agreement, the Investor acquires all rights and assumes all obligations specified in the Loan Terms for the Investor.
Only Investors can grant Loans. Digilo reserves the right to unilaterally limit an Investor's ability to finance Projects, grant Loans (e.g., if a potential conflict of interest exists), or set additional requirements for granting Loans and concluding Loan Agreements.
Unambiguous unconditional acceptance or acceptance of the Offer is understood as the use of any technical solution provided on the Platform for this purpose, such as an approval button, entering a one-time password (OTP), dual authentication (2FA), an email with a confirmation link, or other similar solutions, including the use of their combinations.
Acceptance of the Offer under the provision of these T&Cs becomes legally binding only when funds corresponding to the specified Loan amount are deducted from the Investor's Lemonway account. If there are insufficient funds in the Investor's Lemonway account, the given acceptance does not attain legal effect, and the Loan Agreement is not considered concluded.
The minimum Loan amount is EUR 150 (one hundred fifty euros). The Loan amount must not exceed the Target Amount.
Every Loan Agreement concluded through the Platform is subject to the Loan Terms. The Investor, by confirming the Offer, concludes a Loan Agreement that cannot be unilaterally canceled, except in special circumstances. If such circumstances arise, the Investor must inform Digilo separately, and each case is considered individually.
The Target Amount can be changed by the end of the Offer Confirmation Period in agreement with the Borrower, notifying the Investors who have already concluded Loan Agreements for financing the specific Project via the Platform.
The Offer Confirmation Period is 20 (twenty) days. If the Target Amount is reached before the end of this period, the possibility of concluding new Loan Agreements for financing the specific Project is suspended before the end of the said period. If the Target Amount is not reached during the initial Offer Confirmation Period, Digilo may exercise the right to extend the Offer Confirmation Period, but not for more than 15 (fifteen) days. Such an extension does not affect the validity of Loan Agreements already concluded.
If the total amount of Loans disbursed by the end of the Offer Confirmation Period does not reach the Target Amount, all Loan Agreements concluded for financing the specific Project are automatically terminated. Digilo ensures that the disbursed Loan amounts are returned to the Investors' Lemonway accounts and ensures that information about this is available on the User's account. In such a case, the Offer also loses its effect.
The Investor does not have the right to assign, transfer, or otherwise delegate their rights and obligations acquired under the Loan Agreement to a third party without prior written agreement with Digilo.
The Loan Agreement cannot be unilaterally terminated or amended, except in cases specified in these Regulations, and if special circumstances arise based on which Digilo, upon the Investor's request or on another legal basis, terminates or amends the Loan Agreement.
Digilo provides the Inexperienced Investor with "right to reconsider," manifested as a four-calendar-day cooling-off period according to Regulation No. 2020/1503, counting from the moment of conclusion of the Loan Agreement. During this time, the Investor can unilaterally withdraw from the Loan Agreement at any time without explaining the reason and without creating legal consequences. To exercise this right, the Investor shall submit a request to Digilo by sending an email to support@digilo.co, indicating their intention to withdraw from the concluded Loan Agreement. Upon receipt of such a request, Digilo shall immediately cancel the Loan Agreement and return the Loan amount to the Investor’s Lemonway account.
If the necessary Target Amount is collected during the Offer Confirmation Period, Digilo has the right to disburse the Funding to the Borrower according to the conditions set in the Loan Terms and Loan Documents (including the Loan Agreement and other agreements concluded between Digilo/the Collateral Agent and the Borrower). The disbursement of the Funding to the bank account specified by the Borrower is made only when the Borrower has fully met all conditions set for the issuance of the Loan. This disbursement reflects Digilo's fulfillment of obligations according to the concluded agreements and depends on the full compliance with all relevant conditions by the Borrower.
Before receiving the Funding, the Borrower, agreeing with Digilo on a specific timeframe, formalizes legal relations with Digilo and/or the Collateral Agent to secure the Collateral in the relevant public registers for the protection of Investors' interests.
The Borrower agrees and undertakes not to object that, in cases or situations specified by the relevant statutory acts, the Borrower may be required to confirm (sign) the Loan Documents in writing and/or in person, electronically using a secure electronic signature recognized throughout the European Union or other secure identification methods, or in notarially certified form.
Digilo ensures that until the Funding is disbursed for the Project financing, the funds collected are not available to the Borrower and are separated from his financial assets.
If the Borrower does not fully or partially meet the conditions specified in the Loan Documents, Digilo reserves the right to suspend or cancel the disbursement of the Funding. In such a case, following Digilo's decision to suspend or cancel the disbursement of the Funding, Digilo may automatically terminate the concluded Loan Agreements and return all Investors' funds (Loans) to their Lemonway accounts without undue delay, informing all involved parties. Digilo is not liable for any losses incurred in connection with the holding or return of these funds.
All payments related to receiving Services are covered by the Borrower. This includes commission fees, costs associated with servicing the Loan Agreement, and all other financial obligations specified in the Loan Documents. The applicable fees and charges are set out in the Price List, which is available on the Platform.
Investors shall not be required to make any payments in connection with the use of the Services provided by Digilo or the Collateral Agent. Digilo shall be entitled to charge fees related to the use of Lemonway, if such fees are specified in the Price List, which is available on the Platform.
Digilo shall be entitled to unilaterally amend the Price List. Digilo shall inform the Users of any amendments by publishing the updated Price List on the Platform and sending a notice to the Users. The amendments shall take effect from the date of publication, unless otherwise specified.
All payments within the Platform are made exclusively between Lemonway accounts created for each User at registration. No other payment service providers are available for transactions on the Platform.
Any deposits and withdrawals to/from a Lemonway account are conducted only in accordance with the procedures specified in T&Cs Clause 10. This section sets out the payment management conditions within the Platform, regulating transactions between User Lemonway accounts.
Any unilateral deductions from due payments are not considered proper fulfillment of obligations unless they are pre-approved by Digilo.
The User's account reflects the balance of funds available in their Lemonway account. Amounts the User is required to pay or reimburse to Digilo, the Collateral Agent, other Users, and other parties according to these T&Cs may be automatically deducted from this balance. Information about all transactions, including the history of payments made (receipts and disbursements), is available in the User’s account.
In cases where the Borrower simultaneously has obligations to multiple Investors, but there are insufficient funds in the User’s account to fulfill these obligations, the available funds in the Borrower's Lemonway account are used proportionally to meet the obligations to all Investors based on their respective investment (Loan) amounts.
Digilo is entitled to withhold from the funds to be disbursed to Users any expenses, fees, commissions, penalties, late payment interests, and other payments stipulated in these T&Cs, the Loan Terms, and the Loan Documents, as well as other costs incurred according to applicable laws.
Users have the right at any time and without restrictions to deposit funds into their Lemonway account, the balance of which is reflected in their User account, using the payment methods specified on the Platform. Similarly, Users have the right at any time and without restrictions to withdraw any positive balance reflected in their User account. Users can request a withdrawal by submitting an appropriate request through the technical solution provided on the Platform. The request is processed, and the funds are transferred to the User's specified bank account according to the timelines and procedures set by Lemonway. Any costs associated with depositing/withdrawing funds, if applicable, are specified in these T&Cs. Digilo reserves the right to set a minimum amount that can be deposited into the Lemonway account.
When a User unequivocally agrees to an Offer, thus concluding a Loan Agreement, it specifies the exact amount of the Loan it wishes to make available to the Borrower. Before concluding the Loan Agreement, this amount must be freely available in the User’s Lemonway account.
If a User issues a Loan during the Offer confirmation period by concluding a Loan Agreement, the corresponding amount in the User's account is automatically reserved in the necessary volume. This reservation remains in effect until the respective payment is fully confirmed, including the time required to observe the cooling-off period specified in T&Cs Clause 7.13; meanwhile, the reserved funds are unavailable for any other activities or disbursements by the User. This reservation is considered as the issuance of the Loan within the context of the Loan Agreement, and with this reservation, the Loan Agreement comes into effect. After the confirmation and the cooling-off period, if the respective payment is rejected or canceled, then these funds become available again for the User’s disposal and are reflected in the User’s account.
Digilo may revoke any transaction that Digilo and/or any third party has made erroneously without prior agreement with the User. If possible, Digilo will inform the User about such transactions.
"To conduct transactions on the Platform, the User transfers funds from their bank account to a Lemonway account (deposit). No commission fee is charged for processing this transaction.
Attention: Funds can only be transferred to the Lemonway account from a bank account opened in the name of the User (not any third party, including a representative) in a licensed credit institution or payment institution registered and operating in the EU and/or EEA. The payment instruction must include the individual reference number generated for the specific User (information about this is available on the Platform)."
If a payment does not meet the conditions specified in T&Cs Section 10.1, Digilo and/or Lemonway may not confirm the transfer until it is ensured that the individual reference number generated for the specific User is provided. If necessary, they may transfer the received funds back to the person who made the erroneous transfer and deduct from the User, for whose benefit this payment was made, the costs equivalent to the expenses related to the return of the payment to cover the losses incurred by Digilo. Additionally, if Lemonway, according to its terms of use, applies a penalty to Digilo and/or the User for the erroneous payment, Digilo is entitled to deduct the corresponding amount from the User to cover the applied penalty. The deductions mentioned in this section are carried out automatically or manually by deducting them from the funds in the User’s Lemonway account. If there are insufficient funds in the User’s Lemonway account to fulfill these financial obligations, Digilo has the right to separately demand compensation for these expenses from the User.
Funds in the User’s Lemonway account can only be used in accordance with these T&Cs. No interest is paid on the funds held in the Lemonway account unless otherwise agreed.
By agreeing to the T&Cs and depositing funds into the Lemonway account, the User assumes the risk and waives any potential claims against Digilo for the total or partial loss of the funds deposited in the Lemonway account, or the inability to act on the funds at any time, due to any of the following factors:
Any insolvency, bankruptcy, liquidation, administration, or similar proceedings in the jurisdiction of the credit institution and/or payment institution where the Digilo account is held;
Any application or enforcement of a contract between Digilo and the credit institution and/or payment institution where the Digilo account is held; and
Any executive, legislative, or judicial decision that may affect the User’s rights to the funds in the Digilo account.
The transfer of illegally obtained funds to the Lemonway account is prohibited. In cases of suspicious transactions, Digilo will inform the competent authorities. This may result in the freezing and seizure of all funds and the closure of the User’s and/or Lemonway accounts.
When withdrawing funds from the User’s Lemonway account, a commission fee of 1 EUR may automatically be deducted to cover the processing expenses of the transaction.
All Collaterals provided for the fulfillment of the Borrower's obligations are secured in the name of the Collateral Agent appointed by Digilo for this purpose, to act in the interests of the Investors. The appointment of the Collateral Agent is aimed at facilitating the satisfaction of claims arising from the Loan Documents. The Collateral Agent has no right to delegate its functions to third parties; they must be performed solely by the Collateral Agent or Digilo.
The Collateral Agent is obligated to act according to the instructions provided by Digilo, which must be followed in all aspects of its operations. The actions and decisions of the Collateral Agent must be based on these instructions to ensure their implementation as directed by Digilo. Digilo issues instructions on its own or on behalf of the Investors, based on these T&Cs, the Loan Terms, and the Loan Documents.
In its relations with Digilo, Investors, the Borrower, or any other person, the Collateral Agent has rights and obligations arising from these T&Cs, the Loan Terms, the Loan Documents, and other concluded contracts. Using these rights and obligations, the Collateral Agent acts in its own name but in the interests of third parties –the Investors who have entered into the Loan Agreements. Accordingly, in public registers related to the Collateral, only the Collateral Agent is indicated as the recipient, and no information about the Investors whose claim is secured by the specific Collateral is mentioned.
Changes in the ownership of the Loan do not affect the rights and obligations of the Collateral Agent.
If the Collateral Agent, in executing debt collection, fulfilling claims, or realizing Collaterals for the benefit of Investors and/or Digilo, obtains funds, these funds, after deducting all related costs and commission fees, are transferred to Digilo, who then redistributes these funds to the Investors' Lemonway accounts proportionally to the amount of their issued Loans. If the funds obtained are insufficient to cover all claims, payments to each Investor are made proportionally to their claim amount against the total Financing.
Digilo and the Collateral Agent carry out any debt collection based on an assessment of professional experience and an objective analysis of the situation. The purpose of this process is to protect the interests of Users – both Borrowers and Investors – while complying with applicable laws and best industry practices. Actions are based on precise and up-to-date information to ensure fair and efficient debt recovery.
Digilo is responsible for the preparation and storage of the Loan Agreements and associated documentation, including but not limited to the Loan Documents.
Digilo publishes a provisional payment schedule on the Platform along with the Offer, which includes repayment principles, schedule type, and provisional payment dates. These dates may be adjusted depending on the speed of collecting the Target amount and other circumstances. The final payment schedule, which is binding for the Borrower, is available to Investors after the complete collection of the Target amount and is accessible on the Platform as long as the obligations arising from the Loan Documents are fully met.
The Borrower shall fulfill its obligations arising from the Loan documents in accordance with the payment schedule set out in the Loan documents. The Borrower must ensure that the necessary funds for payments in accordance with the schedule are freely available in their Lemonway account on the date specified in the schedule. On that date, Digilo shall automatically or manually transfer these funds from the Borrower’s Lemonway account. If the funds are not available on the scheduled date, the Borrower shall be granted a five (5) calendar day grace period during which they must ensure the necessary funds are provided. If the funds are still not available at the end of the grace period, Digilo shall be entitled to execute the relevant payments from the Borrower’s account in accordance with the Loan documents and to apply the contractual penalties provided therein. These funds shall be distributed among the involved parties – the Investors and other recipients specified in the Loan documents – proportionally, in accordance with their participation and the terms set out in the Loan documents. All transfers shall be carried out using the Lemonway account system on the Platform, ensuring the security and transparency of financial transactions, and the Users agree to and authorize Digilo to make the deductions contemplated in this clause from their Lemonway accounts.
Digilo ensures immediate notification of Investors about significant changes in the Loan Documents or execution status, publishing updates on the Platform. Additionally, Investors may request detailed information about changes using any of Digilo's communication channels if such information is not provided on the Platform.
Debt collection from the Borrower for any unfulfilled obligations from the Loan Documents is conducted according to Digilo's professional assessment and based on experience, acting in the best interests of Digilo and the involved parties, and in accordance with the principles and procedures developed by Digilo's practice.
If the Borrower does not timely fulfill obligations arising from the Loan Documents, Loan Terms, these T&Cs, or other related documents, or if grounds for the extraordinary termination of the Loan Agreement arise, Digilo and/or the Collateral Agent are entitled at the Borrower's expense to take any actions or measures they deem necessary, on behalf of the Investors and/or themselves. Such actions may include, but are not limited to, enforcing obligations, unilaterally terminating the Loan Agreement, or using other legal remedies. Investors hereby authorize Digilo and/or the Collateral Agent to act according to the rights or obligations specified in the Loan Documents, if it is found that the Borrower has violated the provisions specified in these documents.
Digilo and/or the Collateral Agent are authorized to perform the following actions if the Borrower fails to meet obligations from the Loan Documents or other related documents, which they must carry out primarily in the interests of the Investors:
Conduct necessary due diligence on the Borrower's financial and legal situation before initiating any actions, including obtaining information about the Borrower from third parties.
Send reminders, notifications of balances, and warnings, including about the enforcement of obligations and pre-litigation warnings, etc.
Provide information about the Borrower to third parties (e.g., debt recovery service providers) in accordance with the privacy policy.
Initiate and conduct court, arbitration, or out-of-court debt collection processes according to applicable laws, including any insolvency processes provided for in these laws, and represent the Investors in these processes as their representative.
Represent the User's interests in all institutions and relations with other persons concerning the execution of the Loan Documents.
Limit the Borrower's access to Services on the Platform.
Unilaterally terminate (cancel) the Loan Agreement(s) in cases and procedures specified in the Loan Documents and regulatory acts.
Organize the realization of Collateral in the interests of the Investors in accordance with the Loan Documents, Loan Terms, and regulatory acts.
Request from the Borrower all documents related to the Collateral and any other collateral-related aids.
Inform credit information bureaus about the Borrower's failure to meet obligations (debt information), which is included in the credit information bureau's database.
Review and, if necessary, amend the order of obligation fulfillment to comply with changing economic conditions or legal requirements, including foregoing the demand for penalty interest and/or contractual penalties and concluding any agreements with the Borrower, such as for debt restructuring, extension of the repayment period, or other appropriate actions, if there is reason to believe that it would help secure the Loan and interest payments to the Investors.
Sell the Borrower's debt obligations to third parties according to legal norms, including on behalf of the Investors, if, in Digilo's view, such action is in the interests of the Investors. In such cases, Digilo and/or the Collateral Agent must inform all involved parties about this claim assignment.
Upon registration on the Platform, each User agrees and authorizes Digilo and/or the Collateral Agent to represent them and to perform any actions described in this section at their own discretion and based on their professional judgment. This authorization includes the right to sub-delegate, that is, the right to use third parties to perform these actions if necessary.
Digilo ensures effective information exchange concerning the fulfillment of obligations arising from the Loan Documents, specifically responsible for informing Investors within ten (10) business days of the discovery of any breach of the Borrower's payment obligations. If any delay in providing information could potentially lead to future losses for Investors, Digilo is obliged to immediately inform the Investors of such a breach.
In cases where the Borrower fails to meet obligations from the Loan Documents or other related documents, Digilo and/or the Collateral Agent have the right to:
Demand full compensation for costs incurred in performing the actions described in this section in their own name.
Demand and withhold all penalties, interest for delays, fees, and other costs associated with the Borrower's failure to fulfill, delay in fulfillment, or the actions taken to enforce these obligations. These withheld amounts are used to cover the costs incurred in performing financial obligation enforcement actions on behalf of the Investors.
If debt collection from the Loan Documents is required under the provisions of these T&Cs, the Investor transfers their claims to the Collateral Agent or to Digilo itself if it has taken over the functions of the Collateral Agent. Digilo notifies the Investors and the Borrower by sending a written notice to their specified email addresses, and upon sending such notice, all claims arising from the specific Loan Document against the Investor are automatically considered transferred to the person indicated in the notice – the Collateral Agent or Digilo. These claims are deemed assigned from the moment the notice of assignment is received in accordance with the T&Cs clause 13. The assignment allows Digilo or the Collateral Agent to assume the role of creditor, performing actions related to debt collection, including the sale of claims. The Investor, whose claims have been assigned, has claims against the Collateral Agent or Digilo, limited to the amount obtained in the collection process, and this amount is distributed according to the payment execution sequence described in these T&Cs or the Loan Terms.
After the assignment, Digilo and/or the Collateral Agent continue to act in the interests of the Investors concerning the assigned claims. Funds received from the collection or execution of these claims are transferred to the respective Investors' accounts, following the payment execution sequence described in the Loan Terms after deducting related execution costs and commissions. The Collateral Agent or Digilo does not take over the Borrower's obligations arising from the Loan Documents.
To ensure the best possible outcome for Investors and ensure effective and fair use of Collateral, Digilo systematically evaluates the Collateral value and decides on the most appropriate method of enforcing the Borrower's obligations, which best suits the interests of the Investors, by choosing one or more of the following options:
Sale of the Collateral at public auction.
Sale of the Collateral on the open market, both within and outside of enforcement processes.
Initiation of bankruptcy proceedings against the Borrower.
Realization of claims according to the Loan Documents on the market.
Submission of claims arising from personal guarantees or other guarantees provided to ensure the fulfillment of obligations from the Loan Documents.
When enforcing the Collateral, the Collateral Agent acts according to debt collection and collateral enforcement procedures developed by Digilo, ensuring the coherence and efficiency of these procedures.
Digilo, representing the interests of the Investors, regularly monitors the condition of the Collateral and the performance of the Borrower's obligations. Digilo also has the right to demand, and the Borrower is obliged to provide, periodic financial reports and confirmations of their operations complying with these T&Cs, Loan Terms, and Loan Documents. This includes notifications of any problems in fulfilling obligations and other important information necessary to ensure effective Collateral management and protect the Investor's interests.
Digilo offers Investors an additional service – individual management of the loan portfolio (hereinafter – Auto-Invest), which is an automated investment management mechanism that allows the Company to invest the Investor’s funds in Projects published on the Platform, in accordance with the parameters and risk indicators determined by the Investor. The Auto-Invest service is provided in accordance with Article 6 of Regulation No. 2020/1503 and the related provisions.
By using the Auto-Invest functionality, the Investor grants Digilo an authorisation to automatically allocate and invest the funds held in the Investor’s Lemonway account into Projects in accordance with the parameters set by the Investor, without requiring the Investor to separately make an investment decision for each individual Project. This authorisation is considered a discretionary mandate within the meaning of Article 6 of Regulation (EU) No 2020/1503. When providing the Auto-Invest service, Digilo takes all necessary measures to ensure the best possible result for the Investor, in accordance with the parameters determined by the Investor and the applicable legal acts.
Within the Auto-Invest framework, automated processes on the Platform enable Investors to efficiently diversify their investment portfolios, reducing the need to manually select each Project. This service allows Investors to automatically and effectively manage their investments in accordance with their individual preferences and risk tolerance, offering flexibility, control, and time efficiency. Digilo ensures that the operation of Auto-Invest is carried out objectively and without discrimination, granting no advantage to any Investor, even in cases where the available funding for a particular Project is limited.
Set & Forget: The Investor sets up their investment profile, which automatically invests a specified amount in each new Project approved on the Platform, provided that there are sufficient funds in the Investor’s Lemonway account. The minimum investment amount is EUR 150.00. The process is fully automated, without the need for the Investor to intervene in each individual investment decision, ensuring simple and efficient portfolio development.
Select & Maximize: The Investor selects more detailed parameters – the loan’s LTV (Loan to Value) ratio, the range of interest rates, the range of loan terms, the geographical location, and the type of collateral. The minimum investment amount is EUR 300.00. The Investor may define multiple strategies, assigning them individual names. The system automatically adjusts and allocates funds across several Projects that meet the established parameters, thereby promoting diversification and maximizing returns.
By activating the Auto-Invest function, the Investor grants Digilo an authorisation to act on behalf of the Investor by setting at least two of the following criteria, which must be met by each loan included in the portfolio:
the minimum and maximum interest rate;
the minimum and maximum loan term;
the range or distribution of risk categories;
the target annual rate of return (if applicable).
In addition to the parameters specified in Clause 13.5 of these Terms, the Investor may determine other parameters, including the geographical location, the type of loan collateral, and the maximum investment amount per Project.
The Investor may review, modify, or deactivate the Auto-Invest settings in their User Profile at any time. The changes take effect in the next automated investment cycle.
Automatic Investments: The Platform uses an algorithm that automatically identifies and selects Projects that meet the criteria previously defined by the Investor. The algorithm ensures that investments are made consistently and without any human subjective influence.
Parameter Configuration: The Investor may configure their investment parameters, including the maximum amount per Project, the desired interest rate, the loan term, and other settings available on the Platform.
Risk Management and Internal Processes: Digilo implements and maintains appropriate systems, data models, and risk management procedures to ensure the secure operation of the Auto-Invest service. Digilo conducts credit risk assessments both at the individual Project level and at the overall portfolio level, as well as evaluates the creditworthiness of Project Owners and the likelihood of fulfilling their obligations. The Company documents the authorisation and each Loan in a separate portfolio, retaining such data for at least three (3) years after the expiry date of the respective Loan Agreement.
If Digilo has carried out an assessment of the respective Loan, the Investor shall be provided with information regarding the most recent valuation, the date of the valuation, the reasoning behind it, and a description of the actual yield, taking into account fees and default rates.
If the specific Project, in which an investment should be made according to the Investor’s chosen Auto-Invest strategy, cannot fully satisfy the demand, the Platform’s algorithm executes investments in chronological order based on the activation date and time of the Auto-Invest strategy – the Investor who activated their Auto-Invest strategy earlier shall be granted priority in making the investment. This procedure ensures an automated, objective, and equal approach for all Investors in cases where the available funding amount for a Project is limited.
Each Auto-Invest strategy created by the Investor may invest in a specific Project only once. Repeat investments in the same Project under the same Auto-Invest strategy shall not be made.
The four (4) day reflection period specified in Clause 7.12 of these T&Cs does not apply to Loan Agreements concluded through the use of the Auto-Invest functionality or its settings. In such cases, the Loan Agreement shall be deemed to be concluded automatically in accordance with the parameters and authorisation approved by the Investor.
Digilo reserves the right, at any time and at its sole discretion, to suspend the provision of the Auto-Invest service, restrict its use, or limit or deactivate specific Auto-Invest functions or settings, if necessary for the purposes of Platform security, system maintenance, compliance with applicable legal requirements, or Digilo’s internal policies.
Investors are provided on the Platform with a range of reporting and analytical tools that allow them to monitor their investments in real time. The available information includes at least a list of Loans contained in the portfolio; the weighted average annual interest rate; the distribution of Loans by risk categories; information on interest rates, terms, repayment schedules, and performance status; information on Collateral and/or guarantees; information on cases within the last five (5) years where a Project Owner has failed to fulfil their obligations; and information on all fees related to the Loans. This information is available in the Investor’s User Profile on the Platform. If the Investor wishes to obtain more detailed information than that provided by the Platform’s reporting tools, Digilo shall, upon the Investor’s request, provide such information electronically in accordance with Article 6(4) of Regulation No. 2020/1503.
The Investor assumes full responsibility for the consequences arising from their approved Auto-Invest strategies and the investments made under such strategies. The Investor acknowledges and agrees that all transactions executed through the Auto-Invest functionality are deemed to be approved by the Investor, and the Company shall not be held liable for any losses resulting from the parameters or strategies set by the Investor. Digilo acts on behalf of the Investor in accordance with the parameters established by the Investor and shall not be held responsible for the financial results of specific Projects, the non-fulfilment of obligations by Project Owners, or the actual rate of return. The Investor acknowledges that investments in Projects involve risk, including the possibility of losing part or all of the invested capital, and that past performance does not guarantee future returns. The Company ensures that the operation of Auto-Invest is conducted transparently, fairly, and in compliance with all applicable legal requirements.
All legally binding notices between Digilo/the Collateral Agent and the User are made in writing using the User's specified email or the Platform's official communication channel (Platform notifications). Digilo and the Collateral Agent are entitled to send notices to the User at their legal or declared address and may use other communication methods permitted by law. Notices will be sent using the contact information provided by the User during registration on the Platform or updated thereafter as necessary to comply with legal requirements or in other cases specified by law.
Notices sent to the User via the Platform or sent to the email address provided by the User on the Platform are considered received within 24 (twenty-four) hours of being sent.
Digilo has the right to record telephone conversations with the User related to the use of the Platform, the provision of Services, and ensuring the fulfillment of obligations from the Loan Documents, warning the specific User of such recording. Digilo may use these recordings as evidence in complaint processing and/or litigation.
Users have the right to file a complaint about the Services provided by Digilo in accordance with the complaint handling policy published on the Platform. Similarly, the User may submit a complaint about Digilo's operations to the supervisory authority – the Bank of Latvia, address: K. Valdemara Street 2A, Riga, LV-1050, website: www.bank.lv.
All disputes, claims, or disagreements arising from these T&Cs that cannot be resolved through mutual negotiations will be considered and resolved in the courts of the Republic of Latvia according to the laws of the Republic of Latvia, designating jurisdiction according to Digilo's legal address unless Digilo and the User have agreed on an alternative resolution.
The legal relations and these T&Cs between the parties are governed by the laws in force in the Republic of Latvia, unless otherwise specified by statutory acts, international treaties, or agreements between the parties.
If a decision is made on Digilo's liquidation due to insolvency, bankruptcy, or on another basis specified in statutory acts, such a process will be conducted according to the legislation of the Republic of Latvia, ensuring full transparency, and Users will be informed about all significant actions and decisions. Digilo's rights and obligations during the process may be sold or assumed to ensure the continuity of contract execution. Any such changes will occur according to legally prescribed procedures and will be duly documented. Users' financial assets held in separate accounts are isolated from Digilo's financial assets and will not be affected by the liquidation process. Meanwhile, Collaterals managed by Digilo on behalf of Users will continue to be managed according to legal requirements and procedures, as well as existing contracts (Loan Documents), to ensure the fulfillment of Users' obligations.
Investment opportunities offered on the Platform (or Services) are not intended and will not be offered, sold, or otherwise transferred to U.S. persons as defined under the U.S. Securities Act of 1933, "Regulation S," the U.S. Commodity Exchange Act, and the U.S. Internal Revenue Code of 1986, including FATCA and related Intergovernmental Agreements (IGAs) on the application of FATCA. Similarly, these investments are not offered to persons from Canada, Australia, and Japan. Any participation by such persons will be considered void.
All copyrights and other intellectual property rights relating to the Platform and its content belong to Digilo or licensed third parties. Users are allowed to use the Platform's content only for personal, non-commercial purposes. Any copying, reproduction, transmission, or distribution of the Platform's content without prior written permission is prohibited, except when necessary for personal use and to the extent reasonably necessary for the use of the Services. Use of the Platform does not grant any rights or licenses in respect of intellectual property rights.
Be aware that any versions of documents mentioned in the T&Cs may be amended, supplemented, and otherwise modified. Therefore, any reference in these T&Cs to external or internal documents, including laws, regulations, Digilo's internal documents, should be understood as a reference to the currently effective versions of these documents, including all appendices, expansions, and clarifications.
If any section of these T&Cs is considered void, the remaining T&Cs remain in effect.
These T&Cs were originally prepared in English. Digilo may provide translations of these T&Cs (and other documents or information) in other languages and make them available on the Platform. However, in the event of a discrepancy between the English version and any other language version, the English version prevails.