Application
These terms of use set out the terms on which a user ("you", "user") uses the internet location and
all pages and content located at www.enummos.com (“website”) and any of Nummos's services accessible
via the website ("services").
Please read these terms of use carefully. In accessing the website and by using the services in any
manner, you hereby agree to comply with and be bound by these terms of use and all other legal
notices on the website as updated from time to time by Nummos in its discretion ("website
agreements"). If there is a conflict or inconsistency between two or more versions of a website
agreement to which you have agreed or been deemed to agree, the terms and conditions in the most
recent version shall take precedence unless otherwise expressly stated. If you disagree with any
website agreement as updated, you must promptly discontinue your access to or use of the website and
services.
The website is owned and operated by Munzo Systems Pvt Ltd which is incorporated under the laws of
the Republic of India.
Nummos reserves the right to refuse access to or use of the website or services to anyone and to
reject, cancel, interrupt, remove, or suspend any Proposal, contribution, or services, or access to
or use of the same generally, at any time and without notice for any reason without liability.
Restricted access
This website and the services are not directed at or intended for distribution to or use by any
individual or entity who is a citizen or resident of (or located or established in) any jurisdiction
where the access to or use of the website or services would be contrary to applicable law or
regulation or would subject Nummos to any registration or licensing requirement in such
jurisdiction. Your ability to access the website or services is not, and shall not be construed as,
any act or omission that would contravene such law or regulation; representation that such
registration or license has been obtained; or attempt to circumvent any registration or licensing
requirement by Nummos. Persons who wish to access this website are required by Nummos to inform
themselves of and to observe any legal or regulatory restrictions which may affect their eligibility
to access the website or use the services. Professional advice should be sought from a financial or
other professional adviser regarding the suitability of any investments.
Nothing on this website constitutes an offer, promotion, recommendation, inducement, solicitation,
or invitation to subscribe for or acquire securities (as defined below) in any jurisdiction in which
such offer, promotion, recommendation, inducement, solicitation, or invitation is unlawful or
unauthorised, and is not made or intended to be made to any person to whom it would be unlawful to
make such offer, promotion, recommendation, inducement, solicitation, or invitation. No action has
been or will be taken under any legislation or regulation of any jurisdiction in order to permit any
public offering of securities. The accessibility and usage of this website, the viewing of offers
lawfully made via this website, and the subscription or acquisition of securities that are the
subject of an offer lawfully made via this website in certain jurisdictions may be restricted by the
relevant laws in such jurisdictions.
Relationship to other agreements
These terms of use shall be read together with Nummos's privacy policy and any other agreement(s)
that you agree or are deemed to be bound by in the course of your use of the services, website, or
Nummos's platform, and will collectively govern your use of and access to the same. If there is a
conflict between any of these agreements, the latest of the agreements into which you have entered
shall take precedence. Each time you use our services and website, you represent, warrant, and
undertake to (i) accept, comply with, and be bound by these terms of use and (ii) comply with all
applicable laws, regulations, and rules in relation to your access to and use of the website and the
services.
Nummos retains the right to disable or cancel your user account as a member (as defined below) or
access to any part of the website, at any time and without notice, if it deems that you have failed
to comply with any of the provisions of these terms of use.
Age of consent
If you are a natural person, you acknowledge that you have read and understood these terms of use
and that you are at least 18 years old. Users under 18 years of age are not eligible to use the
website and services without the consent and supervision of a parent or legal guardian who is at
least 18 years old, provided such parent or legal guardian also agrees to be bound by the terms of
use and agrees to be responsible for such use of our website or services.
If you are using our website or services on behalf of a legal entity (e.g., a company interested in
investing in a Proposal displayed on the website or a company interested in raising funds), you
warrant that you have the right to enter into agreements on behalf of such legal entity and
otherwise represent such legal entity in all your interactions with us.
Intellectual property
The trademarks, service marks, trade names, and logos used and displayed on the website
("Trademarks"), are registered and unregistered trademarks of Nummos, our related corporations, or
third parties. Nothing on this website should be construed as granting, by implication, estoppel, or
otherwise, any licence or right to use any Trademarks displayed on the website, without the written
permission of Nummos or any other applicable trademark owner. The name of Nummos may not be used in
any way without the prior written permission of Nummos.
The website may include, at any given time, content, information, applications, programmes, text,
graphics, logos, icons, images, sound clips, video clips, data compilations, or other materials
displayed herein, as well as the website's page layout, underlying code, and software (collectively,
"content"). All of the content is the property of or licensed by Nummos, our related corporations,
or third parties with whom we do business, and is protected by India and International intellectual
property laws and other relevant laws.
You may not reproduce, republish, copy, display, broadcast, hyperlink, mirror, frame, transfer,
transmit, distribute, store, or in any other fashion re-use or distribute the content in any manner
or by any means unless otherwise indicated on the website or unless given express written permission
to do so by Nummos. Permission will only be granted to you to download, print, use, or create links
to the content for wholly personal, non-commercial purposes, provided that you do not (i) modify the
content and (ii) attempt to revise, remove, hide, or appropriate all copyright and other proprietary
notices contained in the content. In addition, you may not create links to any part of the website
which is accessible to non-members.
Aside from the content, trademarks owned by third parties that we may not do business with
(including Facebook, Twitter, and Linkedin) and the other names of companies, products, programmes,
applications, systems (including messaging systems), and solutions may be mentioned or referred to
on the website. These Trademarks are, and remain entirely, the Trademarks of their respective owners
or holders. Nummos does not represent itself, or otherwise hold itself out, as being connected,
associated, or affiliated in any way with the owners or licensees of those Trademarks.
The website and services
Nummos provides a social and meeting platform for Startup Business Services and SME's on the
website. Entrepreneurs may submit the Proposals of their respective companies to Nummos through the
website in accordance with the conditions stated thereon, or otherwise communicated by Nummos to the
entrepreneur, for such submissions. All Proposals shall be conducted in accordance with the terms of
the relevant agreement(s) governing each such Proposals. Nummos is not and will not be acting in any
capacity as a placement agent or a financial advisor for any potential transactions that take place,
if any. Investors who participate in and issuers who hold any Proposal on the website or through
Nummos understand and acknowledge that Nummos does not assume any advisory, fiduciary, professional,
or similar or other duties or act as any type of professional adviser to such investor. No such
investor should rely on any information contained on the website in making an investment or other
decision. Nummos assumes, and you agree that we are entitled to rely on the assumption, that every
such issuer or investor has taken or will take the necessary independent legal, tax, financial, or
other advice in connection with any activity in any Proposal or on the website.
Each Proposals on the website shall be conducted as an investment-based Proposals, where investors
who are accredited investors or institutional investors may invest funds in companies that have
initiated a fundraising round on the website by purchasing non-transferable securities; convertible
securities; or equity issued by such companies ("securities") and receive a return in such form
pursuant to such securities as pre-defined by the relevant company.
For the avoidance of doubt, investment-based Proposals may only be accessed by Individual Investors
or Institutional Investors. Investors who access our investment-based Proposals must confirm that
they are either an Individual Investors or Institutional Investors and provide such documentation
and information as requested by Nummos to verify such status prior to making any investment via any
of the investment-based Proposals. Please note that Individual Investors will additionally be sent a
notice on the consequences of being treated as an Individual Investors, and must provide to Nummos
their acknowledgement of this and consent to such treatment, before they may be accepted as
Individual Investors. This is required under India law as part of the conditions applicable to
financial institutions in onboarding persons as Individual Investors.
Operation of website
Nummos reserves the right to control the look and feel of the website.
Nummos shall be entitled to publish any notices or disclaimers on the website at any time in
connection with a user, company profile, or fundraising Proposal in the manner and to the extent
deemed necessary by Nummos at its sole discretion (such as for the purposes of our internal
operational policies or any guidelines or regulations applicable to us).
Nummos may, at its sole discretion, deny you access to the website or services for any reason,
including if Nummos believes that you have violated or acted inconsistently with this terms of use,
any of the other website agreements, or any other relevant agreement; or, if in Nummos's opinion or
the opinion of any regulatory authority, Nummos is not suitable to continue providing you access to
the website or services.
Member materials
The website may include content, information, text, graphics, logos, icons, images, sound clips,
video clips, data compilations, or other materials submitted by members for inclusion in or posting
through the website or services ("member materials").
Nummos neither endorses nor assumes any responsibility in respect of the member materials. The
members submitting their member materials: (i) are solely responsible for their member materials,
including the truth, completeness, and accuracy thereof; (ii) warrant and represent that they have
the right and authority to submit their member materials and that their member materials do not
infringe the intellectual property rights or any other rights of any third party; and (iii) hereby
grant to Nummos a nonexclusive, worldwide royalty-free, irrevocable licence and right to host,
transmit, distribute, or use (which will include the right to copy, reproduce, or publish) the
member materials in connection with the operation of the website and the provision of the services
to users and for the purposes such members have instructed or requested of Nummos.
Nummos reserves the right to immediately remove any member materials or other content from the
website that Nummos at its sole discretion deems to be in breach of this terms of use or any terms
or conditions applicable to the website or the services; in breach or potential breach of any
applicable law or regulation; or is or may be otherwise harmful for Nummos or its users.
Fundraising
Entrepreneurs seeking funds for their companies may, subject to Nummos's prior approval, list their
respective companies on the website for fundraising purposes. Investment-based Startup Business
Services will be undertaken in the form of securities, which will be issued by the relevant company.
Subject to Nummos's approval in each case, a company profile may be created or a Proposal initiated
to start a fundraising round by an entrepreneur acting on behalf of the company. The company profile
is for investors to understand the company's business model. Company profiles are based on
information provided by the entrepreneur or company to Nummos, and Nummos does not make any warranty
as to the completeness or accuracy of any company profile created with reference to such
information. The fundraising round is an investment round during which binding offers may be made to
contract for the fundraising product utilised by a company.
All Proposals must not be for an illegal purpose and must not degrade, abuse, or offend any
individual, entity, or class. Nummos has the sole discretion to immediately cancel, interrupt, or
suspend any Proposal at any time, subject only to prior notice to the relevant entrepreneur and
company. Such notice shall be deemed to have been provided when Nummos sends an email to the email
account the entrepreneur provides to Nummos, regardless of whether such email is actually received
or seen by the entrepreneur or the company. A Proposal may also be cancelled due to the relevant
entrepreneur, the company, or the Proposal violating this terms of use, any of the other website
agreements, or any other relevant agreement. Nummos does not make any warranty as to the truth,
completeness, or accuracy of information which is part of any Proposal.
The Proposal shall be open for the maximum period of time set forth on the website from time to
time. Notwithstanding this, should the total amount of funds targeted by the company to be raised
through the sale or mortgage of securities ("target amount") be reached before the end of the time
frame set for the Proposal, the Proposal may be closed automatically at the discretion of the
relevant entrepreneur (acting on behalf of the company). Once the Proposal has closed, Nummos will
remove the ability of Individual Investors or Institutional Investors members to provide binding
offers to purchase the securities, though such Proposal may still be visible to members as an
example of a former Proposals.
During an investment-based Proposal, an Individual Investors or Institutional Investors may report
its interest to contract into the fundraising by specifying the number of securities that it would
like to invest in. Only Individual Investors or Institutional Investors may report interest in
contracting into an investment-based Proposals and make binding offers to contract for securities
The company shall provide to all accepted investors all documentation necessary for completing the
investment. After a suitably qualified investor wishes to make a binding offer to contract for
securities, such investor shall, subject to the satisfactory completion of necessary
'know-your-client', anti-money laundering, and countering the financing of terrorism checks, enter
into the relevant binding agreement(s) for the transaction concerned ("transaction agreement"). Each
transaction agreement may be executed electronically or physically. Upon the execution of the
required transaction agreement(s), the investor shall arrange for the transfer of the monies for
the purchase of the securities to the prescribed bank account of the company.
Where a Proposal successfully raises the target amount, the company has the sole discretion to
decide which offers to accept. The company shall promptly issue the securities under the terms of
the relevant transaction agreement to the relevant investors.
Nummos as facilitator only
You agree that Nummos is only a social and meeting platform for members (i.e., both entrepreneurs
seeking funds for their companies and investors interested in funding companies) and that Nummos
does not provide any advice (financial, tax, legal, or otherwise). Apart from certain general
prerequisites such as the type of investment instrument and the type of investors, Nummos does not
at any time set the specific prerequisites for any Proposal. Such specific prerequisites include,
but are not limited to, the number of investors that may be accepted, the number or value of
securities to be offered or sold, the valuation of any company, and investment amount, and shall
always be set by the company.
With respect to investment-based Proposals, as an Individual Investors or Institutional Investors,
you agree and are aware that any subscription agreement you enter into will be between the company
and yourself only. Nummos will neither be a party to the subscription agreement nor collect or
handle any monies.
Any decision to contract for securities is solely the decision of such investor. Under no
circumstances shall Nummos be involved in or liable for the non-payment of any investment amount by
any investor or for any settlement process.
Each transaction agreement is an agreement entered into directly and only between the relevant
company and an investor investing in a Proposal. In no event shall Nummos establish or be required
to establish any transaction agreement with such an investor.
Entrepreneurs and companies
Nummos has the right to deny access to any company profile, Proposal, the website, or services at
any time and for any reason. Entrepreneurs agree, represent, and warrant that all the content,
information, data, or materials provided for posting or distribution on or through the website or
services or by Nummos generally is true, complete, and accurate
Entrepreneurs further represent and warrant that the company possesses or has obtained all necessary
rights and permissions for such content to be displayed and uploaded on the website, and can
demonstrate to Nummos's full satisfaction upon request that the company or entrepreneur (i) owns or
otherwise controls all rights to all content that is or will be so displayed or uploaded, or that
content in such display or upload is in the public domain and (ii) where applicable, has full
authority to act on behalf of any and all owners of any right, title, or interest in and to any
content for purposes of such display or upload, or such use as contemplated by these terms of use.
Should any such content from any company or entrepreneur infringe the intellectual property rights
of a third party, the entrepreneurs agree to the immediate removal of all infringing parts of the
content and to fully indemnify and hold Nummos and its related parties harmless from and against all
damages, costs, and expenses directly or indirectly incurred as a result of such infringement.
Should Nummos become aware or suspect that such content infringes any third party's intellectual
property rights, Nummos shall have the right to promptly remove such content from the website in its
sole discretion.
Entrepreneurs agree to provide investors with all information requested by Nummos or as set forth on
the website from time to time. The relevant entrepreneur (acting on behalf of the company) further
agrees to, without undue delay at the end of the company's Proposal, accept or reject any binding
offer to invest submitted by an investor by sending a confirmation or rejection to that investor via
the website. After closure of a Proposal where the target amount is successfully raised in full, the
relevant entrepreneur (acting on behalf of the company) undertakes to ensure that the company issues
the relevant securities to the investors in accordance with all applicable legislation and
regulations and the terms of the relevant transaction agreements. Entrepreneurs (each acting on
behalf of the relevant company) are responsible for drafting and providing all documentation needed
(including legally required documentation) for completing the Proposal.
Nummos has the right to, at any time and at its sole discretion, cancel, interrupt, or suspend any
Proposal subject only to providing prior notice to the relevant entrepreneur and the company. Such
cancellation, suspension, or interruption may be required due to such reasons as a violation by the
relevant entrepreneur, company, or Proposal of any applicable legislation or regulation, this terms
of use, or any other terms and conditions applicable to the website or services. Such prior notice
shall be deemed to have been provided once Nummos sends an email to the email address the
entrepreneur provides to Nummos, regardless of whether such email is actually received or seen by
the entrepreneur or other representative of the company.
Liability and indemnification
Users and members
You represent, warrant, and fully understand and agree that the provision of the website and the
services and any approval of any Proposals by Nummos are not: (i) an endorsement of any company or
securities referred to in relation to the services or on the website; (ii) a representation that
Nummos has performed any due diligence on any such company or securities; or (iii) a representation
by Nummos that any information provided by the entrepreneur or company is complete, accurate, true,
fair, and not misleading. Any use or reliance on any such information is at your own risk and Nummos
shall not be liable for any losses arising from or incurred by you in connection therewith. Nummos
is not responsible or liable for the accuracy and completeness of any such information and for the
performance or outcome of any investment made by you after receipt of such information.
You acknowledge that you are aware that the companies involved in the Proposals are often in a very
early stage and are seeking financing to grow their business. You warrant that you are aware that
investing in a Proposal involves a high degree of risk, that a Proposal may never be realised, and
that all or parts of your investment may be lost. You agree that Nummos shall not be liable for any
transactions undertaken by you further to any Proposal or the services.
The securities offered by companies may not be suitable for all investors, and certain members may
not be eligible to participate in some or all of the Proposal featured on the website. Investors
should independently evaluate the securities and, where necessary, seek advice from a financial
advisor regarding the suitability of such items in light of their specific investment objectives,
financial situation, and particular needs before making a commitment to purchase any such items.
Members are advised to conduct their own evaluation and consult with their own legal, business,
financial, tax, and professional advisers to determine the appropriateness and consequences of any
investment in the securities. Nummos does not represent that any of its agents, nominees, directors,
officers, or employees has any authority to advise members, and Nummos does not purport to advise
members on any investment contemplated or undertaken.
You agree that you are solely responsible for the use of the services and any decision to invest in
a Proposal, and agree to be solely liable for all consequences arising therefrom.
General
You shall be liable for any damage caused to Nummos or any third party due to your breach of any of
the website agreements, including the access to or use of the website or services in breach of the
same. Furthermore, you agree to fully indemnify and hold Nummos and its related parties harmless
from and against all claims, costs (including reasonable legal costs), damages, expenses,
liabilities, and losses that Nummos may sustain or incur, whether directly or indirectly, by reason
of our having: made available the website or services to you; entered into the website agreements
with you; enforced or attempted to enforce our rights under the website agreements; or acted upon
any instructions which you may give in relation to the website or services, or any negligence,
fraud, or misconduct on your part or your breach of any of the website agreements.
Disclaimer of liability
The website and services are provided on an 'as is' and 'as available' basis. Nummos does not make
any warranty or representation (express, implied, or otherwise) as to the accessibility, quality,
suitability, accuracy, adequacy, fitness for use, or completeness of the website or services, and
expressly disclaims any and all liability for errors, delays, or omissions in the website or
services as well as for any consequences resulting directly or indirectly therefrom. No warranty of
any kind, whether implied, express, or statutory, including the warranties of non-infringement of
third party rights, title, merchantability, satisfactory quality, or fitness for a particular
purpose, is given or may be implied in conjunction with the website or services. Further, no
warranty is given that the website or services are free from any computer virus or other malicious,
destructive, or corrupting code, agent, program, or macros.
There are situations when the website or services will be inaccessible, unavailable, or disrupted,
including: (i) necessary maintenance; (ii) circumstances outside the control of Nummos (i.e.,
external causes such as net access failure, isp equipment failure, host equipment failure,
communications network failure, power failure, natural events, acts of war, or legal restrictions
and censorship); and (iii) modification, upgrading, suspension, or discontinuation of the provision
of or removal of the website or services (whether in whole or in part) from time to time and without
Nummos giving any reason or prior notice. Nummos shall not be liable for any such inaccessibility,
unavailability, or disruption. Nummos does not guarantee that any and all identified defects,
errors, or faults will be corrected.
Nummos does not warrant the security of any information transmitted by or to you through the website
or services. You accept the risk that any information transmitted or received through the website or
services may be accessed by unauthorised third parties or disclosed by Nummos to third parties
purporting to be you or purporting to act under your authority. Transmission over the internet and
e-mail may be subject to interruptions, transmission blackouts, delayed transmissions due to
internet traffic, or incorrect data transmissions due to the public nature of the internet.
You acknowledge and agree that user authentication on the internet is generally difficult to
establish, and hereby accept the risk that online activities may be subject to fraudulent or
deceptive activity. Nummos does not warrant or confirm (i) each member's purported identity; (ii)
that members have not misused the usernames or passwords; or (iii) that members have complied, fully
or otherwise, with all or any of the website agreements. Nummos consequently will not be held liable
where there is a dispute or claim involving or relating to the identity of any member.
Third party content and third party systems
This website may contain, or the services may provide, links to other websites or content on the
internet that are owned or operated by third parties (collectively, "third party content"). Any such
link does not constitute Nummos's endorsement, recommendation, or verification of third party
content. Unless we expressly say otherwise, you should assume that third party content is not under
the control of Nummos or our related corporations. We assume no responsibility and shall not be
liable for any errors or other consequences arising from accessing or delays in accessing such third
party content or any actions taken in reliance thereon, and we disclaim liability to the fullest
extent for any and all forms of loss or damage arising out of the access to or use of third party
content. Under no circumstances shall it be construed that, in case of your access to and use of
systems (including messaging systems), services, content, materials, products, applications, or
programmes of any third party ("third party systems"), Nummos is a party to any transaction, if any,
between you and such third party or that Nummos endorses, sponsors, certifies, or is involved in the
provision of such third party systems even where they may accessible at or through the website or
services.
You acknowledge and agree that you will be solely responsible for any access to or use of third
party content and third party systems through the website or services and that your access to or use
of any third party content or third party systems will be governed by such third party's terms and
conditions, and is not the responsibility of Nummos. Nummos does not warrant, represent, or
otherwise assure that your use of the website or services to access or use third party systems or
third party content is permitted or in compliance with terms and conditions, laws, or regulations
applicable to the same. Accordingly, you shall not have any right or claim, and hereby waive any
rights you may have (if any), against Nummos in respect of any breach or failure to comply with the
terms and conditions, laws, or regulations applicable in respect of your access to or use of such
third party systems or third party content through the website or services.
You authorise and hereby appoint Nummos and its agents to access third party systems that you have
designated to retrieve content or information requested by you or to process or access
functionalities at your request (e.g., facebook or linkedin). Each time you submit your user name or
password to access or use your designated third party systems, you shall be deemed to have
authorised Nummos and its agents to process your request and use information submitted by you and
which is retrieved using your user name or password.
Severability
In the event that any provision of any website agreement is found to be or become unlawful, invalid,
or otherwise unenforceable, that provision is to be deemed severed from the relevant website
agreement and shall not affect the legality, validity, and enforceability of the remaining
provisions of the relevant website agreement. The relevant website agreement shall continue in force
as if such unlawful, invalid or unenforceable provision was severed from the same.
No waiver
Any failure or delay by yourself or Nummos in exercising or enforcing any right or remedy contained
in this terms of use does not constitute a waiver by the party responsible for such delay or
failure. It shall also not constitute a bar to the exercise or enforcement at any subsequent time or
times. Waiver of any right arising from a breach or non-performance of this terms of use or arising
upon default under this terms of use shall be in writing and signed by the party granting the
waiver.
Communications
These terms of use, and the relationship between you and Nummos created by it, shall be governed by
and construed in accordance with the laws of India. Unless expressly stated otherwise in any other
website agreement, such website agreement shall also be governed by and construed in accordance with
the laws of India.
Choice of law
If you wish to communicate with us about anything related to this terms of use, you may do so by
sending an email to support@enummos.com . Please note that the webmaster can only respond to
questions about this terms of use and any technical issues with use of the website. If you have any
other questions about the website you should email the appropriate address set out in the "contact
us" section of the website.
Dispute resolution
You agree to submit to the exclusive jurisdiction of the courts of India in relation to any dispute
arising out of or in connection with this terms of use. Unless expressly stated otherwise in any
other website agreement, any dispute arising out of or in connection with such website agreement
shall likewise be subject to the exclusive jurisdiction of the courts of India.
Nature of relationship established
The relationship between you and Nummos established by this terms of use shall be solely that of
independent contractors. Nothing contained in this terms of use shall constitute or be construed as
creating any fiduciary, partnership, joint venture, agency, or representative relationship between
you and Nummos, and neither you nor Nummos shall have any right whatsoever to incur any obligations
or liabilities on behalf of or binding on the other party.
Rights of third parties
A person who is not a party to this terms of use shall have no right or any similar legislation in
any jurisdiction to enforce any term of this terms of use, regardless of whether such person or
entity has been identified by name, as a member of a class, or as answering a particular
description. For the avoidance of doubt, nothing in this provision shall affect the rights of any
permitted assignee or transferee of this terms of use.
Interpretation
Any reference in this terms of use to any provision of a statute shall be construed as a reference
to that provision as amended, re-enacted, or extended at the relevant time. In this terms of use,
whenever the words "include", "includes", or "including" are used, they will be deemed to be
followed by the words "without limitation". Unless expressly indicated otherwise, all references to
a number of days mean calendar days. Section headings are inserted for convenience only and shall
not affect the interpretation of this terms of use.