Privacy Policy

The website www.beehive.ae (Site) and the Beehive online platform (Beehive) are owned and operated by Beehive P2P Limited (we, us, our).

This privacy policy (Policy) (which is available at www.beehive.ae/privacy-policy) together with the terms of use (which are available at www.beehive.ae/terms-and-conditions) (Terms), set out the basis on which we collect and use any personal data we collect from customers, visitors and users of the Site and the Platform (you, your), or that you provide to us, will be processed by us.

Please read this Policy carefully. By accessing and continuing to use this Site, you confirm that you have read, understood and agree to be bound by this Policy in its entirety and that you give us your consent to collect and process your personal information as set out in this Policy. If you do not accept the terms of this Policy, then you must stop using or accessing this Site.

We respect your right to privacy and are committed to responsible information handling practices.

  1. Collecting your personal information

    1. We will collect personal information about you via a number of different means including when you:
      1. submit it to us (including via the Site);
      2. visit the Site;
      3. carry out transactions via the Site or in connection with the services provided to you or requested by you via the Site; and
      4. contact us (whether in writing, by email, phone or any other means).
  2. Personal information we collect

    1. As well as your personal details (such as your name, job, contact information and postcode) we will collect details of the transactions you complete on Beehive and your bank account details used to make transfers on Beehive.
    2. There may be occasions where, in addition to the personal information we collect through the Site, we collect information from external third parties or from other publicly available sources. For example, we may collect information about you from credit reference agencies who we appoint to carry out identification services.
    3. Where you wish to become a business on Beehive we may seek additional information about you from credit reference agencies who may provide further information on your credit behaviour with other organisations. Such information may relate to you and your business partners’ personal credit behaviour and personal credit accounts (if you are proprietors of a small business and are directors of that business), your business accounts, the identities of the ultimate beneficial owners of the business and both you and your personal financial partner’s accounts (if they are a director). We may also carry out searches through fraud prevention agencies to obtain information on your business, you, your personal financial partner (if they are a director), your business partners, beneficial owners and your addresses. By submitting an application to become a business or providing us with information about another person, you confirm that you have informed that person of the purposes (as set out above) for which their information will be used and they have consented to the use of their information for these purposes.
    4. We may also collect anonymised details about visitors to the Site for the purpose of collating aggregate statistics for reporting purposes and to calculate referral fees. However, no single individual will be identifiable from the anonymised details we collect or disclose by us for these purposes.
  3. Using your information

    1. Where you become a member of Beehive we may use the personal information we obtain about you for the following purposes:
      1. to verify your identity in order to prevent and detect crime, including fraud, and money laundering, including by using scoring methods;
      2. to administer and operate your Beehive investor or business account;
      3. to allow for binding legal obligations to be created between investors and businesses pursuant to an agreement governing the terms on which an investor makes financing to a business (Finance Contract);
      4. to update the records we hold about you from time to time;
      5. to carry out statistical analysis and market research;
      6. to comply with our regulatory obligations including “know your customer” obligations and to carry out regulatory checks;
      7. to manage and improve the Site and to develop and improve Beehive and our services and products;
      8. to personalise our services to you including by identifying products and services which you may be interested in;
      9. to contact you (including by SMS and e-mail) with products and services which we think may interest you. However, if at any time you wish to be removed from our mailing lists you can opt out by changing your settings in the “My Account” section of the Site or sending us an email to the address mentioned below and we will use reasonable efforts to, within a reasonable time frame, cease to use your personal information for these purposes and update our mailing lists; and
      10. to disclose your personal information to carefully selected third parties so that they may contact you (including by SMS and e-mail) with products and services which they think may interest you. However, if at any time you wish us to stop disclosing your information to such third parties, you can opt out by changing your settings in the “My Account” section of the Site or sending us an email to the address mentioned below and we will use reasonable efforts to, within a reasonable time frame, cease to disclose your information to such third parties. We cannot however guarantee that any third parties who received your personal information prior to this will stop contacting you.
    2. Where you become a business on Beehive we will also use the personal information you provide or which we obtain about you for the following purposes:
      1. to assess your application for credit, including by using scoring methods;
      2. to check details on applications for credit and credit related and other facilities; and
      3. if you do not repay money you have borrowed, to trace your whereabouts and recover debts or enforce agreements you have entered into via Beehive.
    3. Beehive has the right to publish loan and investment information, with investor and business identities anonymised, on a public blockchain.
  4. Disclosure and transfer of information

    1. We rely on the support of duly licensed third parties in order to provide aspects of our services. In the course of providing our services we may need to disclose your personal information to those third parties, as well as other companies within the Beehive corporate group as follows:
      1. to other members of the Beehive Group for the purposes of providing and administering the Beehive platform and services;
      2. to specialist third party service providers who support the provision of our services, such as our UK Financial Conduct Authority licensed custodian;
      3. to carefully selected third parties who wish to contact you in relation to products and services which may be of interest to you where you have provided your express consent;
      4. to companies which assist us in supplying our services, including IT support and professional services, and to companies who perform certain functions on our behalf, including to verify the information you provide;
      5. to credit reference agencies who will record information about your application, your business, you and your business partners;
      6. to a third party if it acquires all (or substantially all) of our business and/or assets in connection with the acquisition;
      7. where we are required to do so by applicable law or by a governmental body, regulatory authority or law enforcement agency with competent jurisdiction; and
      8. where we consider that such disclosure is necessary to protect, defend or enforce our rights under the Terms or any other agreements we have entered into with you.
        Some of these third parties may be located overseas and so we may be required to transfer your information outside of the country where it was collected.
    2. We will not disclose, sell or rent your personal information to any third party otherwise than as set out in this Policy unless you have consented to this. If you give us your consent for processing your personal information in a certain way but later change your mind, you may contact us or change your settings in the “My Account” section of the Site and we will, within a reasonable period of time, cease any such processing activity in the future, but we have no obligation to take any action in relation to any disclosure, transfer or other processing of your personal information which occurred prior to such period of time. Please allow a reasonable period of time for your preferences to be updated.
  5. Disclosure of business personal information

    1. Where you wish to become a business on Beehive, in addition to the uses set out in section 4 above, we may disclose the personal information we obtain about you to:
      1. credit reference agencies who will record information about your application, your business, you and your business partners and how you manage your Beehive financings (for the avoidance of doubt we will not disclose any management account information you supply to us to credit reference agencies);
      2. fraud prevention agencies, where it will be recorded by them, and supplied to other organisations to perform similar checks, trace your whereabouts and recover debts you owe;
      3. investors who have financed you funds pursuant to a Finance Contract, in order for binding legal obligations to be created between you and those investors,
      4. other investors on Beehive in connection with other finance outstanding with Beehive investors;
      5. other members of Beehive if required to enforce the terms of any agreement you have entered into;
      6. any organisation which provides a centralised matching service which it collects from mortgage and/or credit applications, for the purpose of preventing and detecting fraud; and
        if you expressly consent, a reputable licensed credit broker in the event that you apply to borrow money using Beehive and your application is declined or the financing monies are otherwise unavailable and we reasonably believe that the credit broker may be able to help you obtain financing.
      7. For the avoidance of doubt, we will not disclose any personal details or contact numbers of any directors, shareholders or employees of any business, or any other data used in the verification of the directors’ identities to other Beehive members.
    2. Please note that you may choose to reveal your identity when securing a Beehive financing in order to secure lower cost finance, or to provide personal information to prospective investors on your financing request page. Please be aware that once made available on your profile this information shall be available online to other users of Beehive. We have no control or responsibility for the ways that other members of Beehive may use that information. If you ask us, we will remove this personal information as soon as possible. Both businesses and investors on Beehive acknowledge and agree that in order to enter into a specific Finance Contract it will be necessary for certain information to be shared with the other party. If you are a business, you consent to us disclosing to your investors, your company name and registration details and contact details for the service of notices, and in the case of an investor, you consent to us disclosing to the relevant business, your name and passport number (if you are investing in your personal capacity) or your company name and registration details.
  6. Disclosure of transaction information to Beehive users

    1. We will share transactional information with other users of Beehive as and where is relevant but this information will not include your postal address or payment details. Please note that where you become an investor on Beehive your full name will be disclosed to the relevant business in the Finance Contract you enter into. We are not responsible for any misuse of this transactional information by Beehive members. If you are concerned about the use of your personal information by any other member of Beehive please let us know.
  7. Legal compliance

    1. We may need to share your personal information with third parties in order to comply with our legal obligations including for fraud prevention and anti-money laundering purposes, and also when we:
      1. check details on applications for financings or other facilities;
      2. administer financings and financing accounts or facilities (indirectly via our licensed third parties); and
      3. recover debts.
    2. If you give us false or inaccurate information or we suspect you are attempting some form of identify fraud, we will record this and may be obliged to disclose the details to fraud prevention agencies and / or the local authorities. We and other organisations may access and use from other countries the information recorded by fraud prevention agencies.
  8. Cookies

    1. This Site uses cookies to collect information about you. Cookies are small data files which are placed on your computer by this Site and which collect certain personal information about you. Cookies enable us to tailor our service offering (including the Site) and to provide you with a better service. We use the following cookies:
      1. Strictly necessary cookies. These are cookies that are required for the operation of our Site. They include, for example, cookies that enable you to log into secure areas of our Site. They do not gather information about you that could be used for marketing purposes or remembering where you’ve been on the Internet.
      2. Analytical/performance cookies. They allow us to collect information about how you use our Site, such as, how you move around our Site and if you experience any errors. These cookies do not collect any information that could identify you; all of the information collected is anonymous and is only used to help us improve the way our Site works, understand what interests our users and measure how effective our advertising is.
      3. Functionality cookies. These are used to recognise you when you return to our Site. This enables us to personalise our content for you, greet you by name and remember your preferences and improve your visit.
      4. Targeting cookies. These cookies record your visit to our Site, the pages you have visited and the links you have followed. They are linked to services provided by third parties, such as “Like” and “Share” buttons. The third parties provide these services in return for recognising that you have visited our Site.
    2. Generally, cookies which are strictly necessary for the operation of the Site will expire when you leave the Site and close your web browser session. Other cookies may be more permanent or may not expire unless you actively delete them. You can find out more about how to manage cookies and remove them from your computer at the attached link http://www.aboutcookies.org/
    3. If you want to reject any of the cookies that we use, then you will need to change your website browser settings. Please note that doing so may impact your ability to access certain parts of the Site and may impact your user experience.
  9. Security

    1. Whilst we take appropriate technical and organisational measures to safeguard the personal information that you provide to us, we accept no liability if communications or other personal information are intercepted by third parties, delayed or incorrectly delivered or not delivered.
  10. Access to your personal information

    1. If you want to know what information we hold about you we will provide you with that information on receiving a written request from you. If you think any personal information we hold about you is incorrect, inaccurate or out of date, you can send us a written request to update or delete our records by sending an email to the address mentioned below. We will use reasonable efforts to process any change you ask, provided however that requests to delete information are subject to our internal reporting and retention policies and all applicable law and legal obligations. We may require you to verify your identify and, if applicable, specify what personal information you require in order to process the request.
    2. We reserve the right to charge a reasonable administration fee for handling such requests. Please note that depending on the nature of your request it may take us time to process it.
  11. Third party sites

    1. This Site contains links to other sites operated by third parties. Please note that this Policy applies only to the personal information that we collect through this Site and we cannot be responsible for personal information that third parties, including sites linked to this Site, may collect, store and use through other websites. You should always read the privacy policy of each website you visit carefully.
  12. Changes to our Policy

    1. We reserve the right to modify or amend this Policy from time to time. You are advised to check this Policy periodically to ensure that you are aware of and are complying with the current version of the Policy. Changes are binding on users of the Site and will take effect immediately on posting of the revised policy on the Site. You agree to be bound by such variation and your access and continued use of this Site shall constitute your acceptance of such variation and your consent to us to collect, use, store and otherwise process your personal information as may be set out in the then current version of the Policy. We will indicate on the Site that the Policy has changed. You accept that by doing so, we will have provided you with sufficient notice of such change.
  13. Any questions?

    1. If you have any questions about how we collect, store, use and process your personal information, or if you have any other privacy-related questions, please contact us using the details below.
      Email address: team@beehive.ae
      Address: Office 42b, Level 3, Gate Village 10, DIFC, Dubai, United Arab Emirates (PO Box 72479).