Privacy Policy

This Privacy Policy (“Privacy Policy”) is provided by Rundet, a limited liability company registered under the laws of the Kingdom of Saudi Arabia, with its registered office in Riyadh 13217, Saudi Arabia.

For the purposes of this Privacy Policy, the term “Rundet” refers to Rundet LLC as defined above, along with all of its affiliates (including legal entities that are part of the same corporate group) (referred to herein as “Rundet” or “we”).

For the purposes of this Privacy Policy, the term “Client” shall have the meaning ascribed to it in the Rundet Platform Terms of Service. This Privacy Policy forms an integral part of all Rundet terms of service, including the Rundet Platform Terms of Service, and all defined terms herein shall carry the meanings given to them in the appcable terms.

This Privacy Policy applies when we and/or the legal entity established as part of our services (each, a “Co-Investment Vehicle”) act as a data controller with respect to the Client’s personal data that is, when we determine (in our capacity as the service provider to the Co-Investment Vehicle) the purposes and means of processing such personal data.

Introduction

At Rundet, we are committed to protecting the privacy of our clients and handling their personal data in accordance with the applicable laws of the Kingdom of Saudi Arabia, including the Personal Data Protection Law issued by Royal Decree No. (M/19) dated 09/02/1443H (corresponding to 16/09/2021), as amended by Royal Decree No. (M/148) dated 05/09/1444H (corresponding to 27/03/2023) (“Personal Data Protection Law”).

For the purposes of this policy, “Personal Data” means any information, regardless of its source or form, that could lead to the identification of an individual specifically, or make that individual identifiable directly or indirectly. This includes: name, national identification number, addresses and contact numbers, license numbers, registry or property information, bank account and credit card numbers, static or moving images of an individual, and any other personally identifiable data as defined under applicable laws. This also includes any data we collect when clients use Rundet’s services or website, as well as other interactions that may occur between clients and Rundet (for example, customer support communications, user surveys, and more). This policy also provides information on how personal data is stored, transferred, used, and deleted, along with the rights and options clients have regarding their personal data.

If clients have any further questions regarding our processing of personal data, we encourage them to contact us at: help@rundet.com

Why We Collect, Process, Store, and Transfer Clients’ Personal Data from Time to Time:

We process clients’ personal data for the following purposes:

  1. To create client accounts and provide services to clients, as well as to continuously maintain and improve our services.

  2. Rundet also creates public profiles for individuals and companies (whether clients or not), based on information collected from various public sources. These profiles are then made available to clients.

  3. To facilitate the management and activation of deal accounts by Deal Leads, and communities by community managers.

  4. To send newsletters and promotional offers where clients have consented by accepting this Privacy Policy, as it may be amended from time to time.

  5. To send emails related to the client’s account, service updates, or new policies.

  6. To respond to maintenance requests.

  7. To respond to client inquiries submitted via the website.

Examples of potential consequences and risks that may arise from not providing us with the required personal data include:

  1. Our inability to comply with legal or regulatory obligations.

  2. Our inability to provide you with our products and services.

The Legal Bases on Which We Collect and Process Personal Data Include (but Are Not Limited To):

Legal obligation: We process personal data to comply with a specific legal obligation, or to fulfill regulatory mandates and serve the public interest.

  1. Regulations and statutes: Where necessary to comply with regulatory requirements and applicable laws.

  2. Contractual agreement: Where the processing of personal data is required for entering into or performing a contract we have with you.

  3. Publicly available data: Where the personal data is publicly accessible or collected from public sources.

  4. Actual interests: Where the processing serves your actual interests and it is impractical or impossible to contact you.

  5. Legitimate interests: Where we pursue our legitimate interests without compromising your rights and interests, and provided that your sensitive data is not processed.

  6. Vital interests: Where necessary to protect your vital interests and/or the vital interests of the Kingdom.

  7. Public interest or official authorities: To serve the public interest or comply with a formal request from a competent authority acting within its mandate.

Consent: We will only process your personal data/information after obtaining your explicit consent, except in cases permitted by law.

Personal Data We Collect About Clients:

Clients are required to provide Rundet with accurate, correct, and truthful personal data. When using the services, we may collect the following data:

  1. Client account information: Full name, email address, phone number, profile picture, nationality, date of birth, and address.

  2. Know Your Customer (KYC) information: We may process the following data: client ID document, proof of address, source of funds, and photographs.

  3. Know Your Business (KYB) information: For clients investing in a corporate capacity through a legal entity, this may include: company name, legal entity type, commercial registration number, articles of association, annual accounts, certificate of incorporation, and the company’s ultimate beneficial owner (UBO).

  4. Payment and transaction information: Client billing details such as credit card information, billing email, banking details, geolocation at the time of transaction, and/or billing address.

  5. Client banking information: Bank account number and bank address.

  6. Platform usage and cookies: This includes, but is not limited to, metadata that provides additional context about how the service is used. We may collect usage data and investment data. Usage data may include the client’s IP address, geolocation, browser type and version, operating system, referring source, visit duration, number of pages viewed, navigation paths, and information about the timing, frequency, and pattern of service usage. Investment data may include the amount invested across different deals, number of commitments made by the client, number of deals created by the client, total capital raised by the client, and voting data from deals where the client participated as a member of a Co-Investment Vehicle.

  7. Investment information: Includes, but is not limited to, details regarding profit-sharing commissions, potential entry fees, the type of ownership acquired in the Co-Investment Vehicles, and the rights associated with it.

Data Retention Period:

  1. We store and retain your personal data in accordance with the time periods specified in the relevant laws and regulations, and for as long as your personal data is necessary for the purpose for which it was collected or processed, required by law, or needed for our legitimate interests. These may include keeping records for analytical or audit purposes, responding to inquiries or complaints, monitoring fraud, defending against or initiating legal actions, and responding to requests from regulatory authorities.

  2. Rundet disposes of your personal data once the purpose for which it was collected has been fulfilled. However, Rundet may retain this data after the purpose has ended if all identifiers that could lead to the data subject’s identity have been removed, in accordance with the controls specified in applicable laws and regulations.

  3. In exceptional circumstances, Rundet may retain your information for longer periods — particularly where we are required to preserve or prevent the destruction of data based on a court order or an investigation conducted by competent authorities or relevant regulators. This is to ensure we can provide such data as evidence, if required.

Transfer of Personal Data:

Rundet may share client data with our service providers and relevant business partners, specifically:

  1. External service providers necessary to perform our services.

  2. Banking partners for Know Your Customer (KYC) and Know Your Business (KYB) procedures.

  3. Company formation service providers required to complete official procedures for establishing Co-Investment Vehicles.

  4. Deal Leads.

  5. Relevant business partners who offer complementary services or products to Rundet’s offerings, for the purpose of promoting related services and products.

Except for our service providers and business partners who are contractually bound to appropriate data protection obligations, we commit not to disclose or transfer personal data to any third party without the client’s explicit consent.

Rundet may transfer your personal data to other countries for compliance-related purposes, or to our service providers that operate in jurisdictions outside the Kingdom of Saudi Arabia. When transferring personal data, we ensure that an appropriate level of protection is provided, and that the transfer is conducted in accordance with applicable regulations. This includes relying on adequacy and suitability decisions issued by the relevant data protection authority and using standardized contractual clauses for cross-border data transfers.

You may request more information regarding the protections in place for your data when transferred by contacting us using the contact details provided below.

Clients’ Rights Regarding Personal Data:

Rundet is committed to maintaining accuracy and transparency in its operations. In accordance with applicable data protection regulations, Rundet takes great care to uphold the rights of data subjects as per the relevant laws and standards, including the following:

  1. Right to be informed: You have the right to be informed about the collection and use of your personal data, including why and how your personal data is collected, the purposes of its processing, and the parties with whom it may be shared.

  2. Right to request access to personal data: You have the right to access your personal data held by Rundet in a structured, readable, and clear format.

  3. Right to access and obtain a copy of your personal data: You have the right to access and receive a copy of your personal data held by Rundet in a structured, readable, and clear format.

  4. Right to rectify your personal data: You may request to correct your personal data (if it is inaccurate), complete it (if it is incomplete), or update it (if it is outdated).

  5. Right to request destruction of your personal data: You have the right to request the deletion of your personal data when:

  • You believe we no longer require the data for the purposes it was collected.

  • You object on legitimate grounds to our use of your personal data, or you have withdrawn your consent upon which the data was processed.

  • Our use of your personal data violates applicable laws or legal obligations.

  1. Right to withdraw your consent to data processing: You have the right to modify or withdraw your consent to the collection and processing of your personal data, unless legal or regulatory requirements, contractual necessity, or public interest dictate otherwise. Withdrawal of consent does not affect the legality of processing based on other legal grounds.

Clients may exercise any of the rights listed above by contacting us at: help@rundet.com

General Provisions:

Social Media: Please do not share personal data on Rundet’s social media platforms. Rundet assumes no responsibility for any personal data shared by any party through social media.

  1. Governing Law: The laws of the Kingdom of Saudi Arabia shall apply to all matters related to the interpretation of legal provisions or the resolution of disputes arising from the use of the Rundet website and/or platform. The competent court in Riyadh shall have exclusive jurisdiction over such disputes.

  2. Data Accuracy: Clients are responsible for ensuring that the personal data they provide to us is accurate and up to date. Clients must notify us as soon as possible if any changes occur to their personal data. If a client provides Rundet with personal data related to another individual (such as someone legally appointed on another's behalf, a dependent, or otherwise), the client must inform that individual of this Privacy Policy and obtain their consent for us to use their personal data for the specified purpose.

  3. Policy Updates: We reserve the right to make changes to this Policy at any time and for any reason. Clients will be notified of any such changes, and we reserve the right to terminate the client’s account if they do not accept the revised Privacy Policy. Any updates or modifications will take effect immediately upon notifying the client. We recommend reviewing this Policy regularly to stay informed of any updates.

  4. Contact: If you have any questions regarding this Policy or wish to exercise any of your rights relating to personal data, please contact us at: help@rundet.com

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