This document sets forth the terms applicable to subscriptions to Akka's investment club, as well as the use of the platform and the referral program. Hereinafter, subscribers will be referred to as "Member," and BLAST ANGELS EUROPE SAS as "Akka."
The use of this website or the request to subscribe to a membership implies acceptance of the subscription and platform usage conditions, as well as our Data Protection Policy, which Members must consult and accept before proceeding with the subscription and use of the product. These subscription conditions may vary. It is the Member's responsibility to read them periodically, as the conditions in effect at the time of subscription will be applicable. For any questions about the conditions or data protection, please fill out the contact form or contact our online department at the email address contact-nordics@akka.app.
The user declares to be aware, at the time of subscribing to the membership, of the specific subscription conditions indicated in the data sheet of each subscription (type of subscription, price, included services, etc.) and expressly declares to accept them without reservation. The completion of the subscription and its confirmation by the user make them a Member and imply full and complete acceptance of the specific subscription conditions, as well as acceptance of the rest of the legal documents published both on the website and in the legal notice and privacy policy.
A Member is any natural or legal person who subscribes and registers on Akka's platform according to the registration procedure.
To access the services that Akka makes available to users as a Member, registration is required, acceptance of these Terms and Conditions, and compliance with the following requirements:
The Member can be Expert or Non-Expert, in accordance with the definition established in the applicable regulations.
The Member can never act as an intermediary for another Member.
Akka reserves the right to include additional requirements, at its discretion, to become a Member of its Platform.
3.1 Registration
To become a Member, Internet Users must create a personal account on the Platform:
Registration as a Member will not be considered valid until all the above conditions are met and Akka's team has approved the profile. Akka reserves the discretionary right to accept or refuse any registration without having to justify its decision or provide any compensation.
Upon completing the registration form, the Member guarantees to Akka that the information provided about their identity, contact details, and other additional information requested is accurate, truthful, up-to-date, and complete.
3.2 Registration or Subscription Process
To purchase one of the offered memberships, the following steps must be followed:
The services offered to Members are as follows:
4.1.1 Presentation of Service 1
Akka offers a service that consists of providing Members, through its Platform, general information about Startups seeking funds.
To present a Startup on its Platform, Akka enters into a service contract with each Startup. This contract establishes the terms and conditions for presenting the Startup and its fundraising project to Members.
It is important to note that the fundraising requested by Startups can take various forms, including capital increases, issuance of bonds, or securities giving access to capital.
4.1.2 No Financial Investment Advice
Akka conducts a preliminary analysis of each Startup and its fundraising project before presenting them on the Platform.
It is important for Members to understand that Service 1, as defined and regulated in section 4.1.1, consists solely of providing general information about the Startup.
Consequently, it is formally stated that Members should not consider Service 1 provided by Akka as a financial advisory service, as defined by the Finansinspektionen Manual. Upon registration, Members acknowledge and accept the following:
(i) Service 1 is not an investment advisory activity, as defined in the Finansinspektionen Manual;
(ii) Access to Service 1 does not constitute, in any case, a personalized investment recommendation; and
(iii) Akka will not provide any advice to Members and will not monitor investments made by Members through Service 1.
4.1.3 Knowledge of General Asset Management Principles
The Member expressly declares to know and apply the essential rules of asset management related to investing in unlisted companies' capital, including the following principles:
These general principles are provided solely for informational purposes, and their observance does not imply any obligation on the part of Akka.
4.1.4 Anti-Money Laundering – KYC
Since the Service 1 offered by Akka is limited to presenting Startups and their fundraising projects to Members, it is informed that Akka is not a financial intermediary legally obliged to comply with regulations regarding the fight against money laundering, terrorist financing, and tax fraud.
However, Akka reserves the right to request from any Member, at the time of registration or thereafter, the information required in accordance with regulations.
In this regard, Akka reserves the right to request the following documents:
In the case of a legal entity:
The shares are subscribed through investment vehicles created by Akka. Akka's team takes care of legally creating the investment vehicle so that Members can participate. Subsequently, the same vehicle created for the occasion acquires a stake in the Startup.
Service 2 takes place in two distinct phases: a first phase, called the Intention Period, during which each Member can express their intention to subscribe to the shares of the investment vehicle dedicated to participating in the Startup. The second phase, called the Subscription Period, occurs after the Intention Period, during which Members who have expressed an intention must actually subscribe to the shares and proceed with the payment.
If, at the end of the Intention Period, the intentions expressed by all Members exceed the maximum amount planned for the investment, Akka will use an algorithm to select the Members eligible to participate.
Additionally, Members who have expressed an intention but have not effectively subscribed the shares or stocks of the investment vehicle dedicated to the participation in the Startup and have not paid for their subscription within seven (7) days from the start of the Subscription Period may be excluded from the investment opportunity. In such a case, the management fees indicated in clause 9.2 will still be due to Akka.
Regarding payments, Akka manages them through the Lemonway payment gateway. Therefore, users accept Lemonway's terms and conditions as part of the services offered by Akka.
4.3 Service 3: Access to Events Organized by Akka
Akka will create a tool that allows Members to access events organized by Akka through its clubs.
Akka does not guarantee the number of events, and Members understand that no event may be available if Akka does not organize any through its clubs.
4.4 Service 4: Acces to Akkademy
Akka will give you access to its investment training academy, where you will find a wide variety of educational resources, including videos taught by experts in various subjects. Through this content, you will be able to expand your knowledge of startup investing.
Subscription to one of Akka's memberships allows the Member to access the Crowdfunding Platform and other resources for one (1) calendar year, calculated from date to date, that is, from the day the membership is subscribed until the same time and date of the following year. If in the second year there is no corresponding date, the subscription expires at the last hour of the last day of the following month.
At the end of the subscription period, the subscription will be automatically cancelled, unless the Member informs Akka of his/her wish to extend it in accordance with clause 29 of these Terms ("Cancellation of Subscription").
The information provided on the website is accurate and free from typographical errors. In the event such an error occurs, Akka will immediately proceed to correct it.
Subscriptions made by Members will be considered binding exclusively in English.
Membership as an Akka Member is subject to a fee and is valid for one year. The membership amount depends on the chosen subscription:
The payment of the offer is made exclusively through Stripe via your bank card using the secure payment module.
The payment of the subscription to one of our memberships will be made in a single payment for the full price, due at the time of subscription.
For Service 2, Akka charges structuring fees ranging from 3% to 8% for each investment made.
The percentage corresponding to the structuring fee is determined based on the Member's membership and decreases according to the importance of the Member, as follows:
*Percentage applied to the amount of each investment made under Service 2.
Additionally, 5% of the investment made by the Member in the investment vehicle created by Akka will be retained and not invested in the respective Startup, to finance the operating costs of the investment vehicle itself (management fees).
Akka receives a 20% fee on any capital gains realized by Members in the following cases:
For clarification purposes, the difference between the price obtained from the sale or transfer of the shares and the amount invested in the startup is considered a capital gain. The amount invested means 95% of the amount transferred by the Member to the investment vehicle to invest in a given startup.
All prices are indicated by default in euros. The indicated price includes taxes applicable to the transaction. The price and conditions of the offered memberships may vary, but in any case, the price and conditions that existed at the time of subscription will be binding on the user.
Akka may offer various promotions from which customers can benefit. In case of discrepancy between the fees indicated on the Site via the desktop version and the mobile version, the fees displayed on the desktop version will prevail. Akka undertakes to inform users as soon as possible of the correct price of the fees.
When a member first purchases an Akka investment club membership, he/she may receive a coupon which can be used on his/her next investment. This coupon constitutes a non-refundable balance, which may only be used in addition to an investment made through the Platform. The amount of the coupon will vary according to the membership purchased:
Under no circumstances shall the coupon amount be transferable, convertible into cash or withdrawable by the member.
The coupon shall be used within the two months following the purchase of the membership. Once this period has elapsed without having been applied to an investment, the coupon will automatically expire, with no possibility of reactivation, compensation or subsequent claim.
There are two main moments for the issuance of the coupons:
(i) Coupons issued during the Drop
On the occasion of the ‘Drop’, any user who purchases an Akka investment club membership on the same day of the Drop may receive a coupon.
(ii) Coupons issued outside of the Drop
Obtaining a membership outside the Drop periods may result in the award of a coupon. However, the purchase of the coupon is subject to obtaining a membership within 24 hours of Akka sending the subscription link, after passing the standard admission process (waiting list, motivation form or commercial call, and approval).
Coupons may only be applied to increase the amount invested in an investment transaction. For example, if a member holding an ‘Explorer’ subscription decides to invest EUR 1,000 and has a coupon of EUR 200, the investment will be counted as an investment of EUR 1,200, and the member will get a stake in the start-up in which he/she invests for that total value. In the event of an exit or other liquidity event, the amount received by the member shall include both his monetary contribution and the value contributed by the coupon and the corresponding return on the total amount invested.
To complete the purchase, the user can do so via Stripe by entering their bank card details. Online payment is made through the Redsys payment system, whose security and encryption systems and protocols guarantee the encrypted sending of data.
Bank details will never be used by Akka for purposes other than completing procedures related to the purchase, issuing relevant refunds in case of return, and preventing or reporting any fraud to law enforcement authorities.
Members have the right to withdraw from their subscription within sixty (60) days from the date of their registration for any of our services, without the need to justify their decision or pay any penalty. During this period, Members may exercise their right of withdrawal by sending a written notification to the following address: contact-nordics@akka.app. In such cases, the full amount paid will be refunded within sixty (60) days from the receipt of the cancellation request. After this period, Members will no longer be able to exercise their right of withdrawal.
It is important to note that Members will not have the right of withdrawal if they have started using any of the services offered by Akka, provided they have given their prior consent and acknowledged the loss of their right of withdrawal once the service has begun.
Access to online resources can only be made by the Member. Access by third parties other than the Member is expressly not authorized by Akka and will constitute sufficient reason for the cancellation of the Member's subscription for violation of these conditions.
Members must provide an email address, which will be used for the following purposes:
If the Member wishes to modify the means of identification, they can do so by accessing the "My Account" section on the Platform or by contacting Akka via email at the following address: contact-nordics@akka.app. In case of unauthorized disclosure of identification credentials to third parties, the Member will be solely responsible for any resulting use and related consequences.
The Member undertakes to keep the information provided to Akka in relation to the use of the Platform always up to date. Any changes affecting this information must be communicated to Akka via email at the following address: contact-nordics@akka.app.
All information related to investment opportunities and access to the personal area are reserved exclusively for Members.
The purchase of a membership gives access to the Platform. Members assume full responsibility for any use of their access credentials (login and password), being solely responsible for their security, as well as any activity carried out through their account.
The Member undertakes to immediately inform Akka in case of unauthorized use of their account or in case of breach of confidentiality and security of their identification information, by sending an email to the following address: contact-nordics@akka.app.
If Akka has reasonable grounds to suspect that the security of the Platform is compromised or that improper use is being made due to unauthorized use of the Member's credentials, Akka reserves the right to temporarily suspend the account, primarily to preserve the integrity of the data and the Platform. If necessary, Akka may also require the Member to modify their identification information.
Members acknowledge that they possess the necessary skills and resources to access and use the Platform.
By this agreement, the Member undertakes to Akka as follows:
In case of violation of the obligations indicated above, or untruthfulness of the information provided, Akka will have the right to limit or block access to the services offered through the Platform or to cancel the Member's registration. Likewise, if the Member engages in any other conduct, not mentioned above, contrary to law or principles of law or any type of behavior that directly or indirectly causes damage or harm to Akka, the Member will be obliged to compensate Akka for the damages suffered, including lost profits, and must hold Akka harmless from any third-party claims arising from such conduct.
The Member undertakes to:
The Member undertakes to hold Akka harmless from any damage or harm, direct or indirect, including lost profits, that may result from non-compliance with their obligations under these Terms of Use.
Akka undertakes to perform its role of intermediation and investment management in accordance with the principles of honesty, fairness, and professionalism, pursuing the best interest of its Members. Akka has an obligation of means and not of results, a distinction that the Member expressly acknowledges and accepts.
Akka cannot guarantee to the Member that the Services are error-free, defect-free, or always available. Furthermore, the Services are standard and do not adapt to the personal limitations of a single Member, nor are they specifically designed to meet the individual needs and expectations of the Member.
The information that Akka provides to the Member about the rights and obligations they assume by operating through the crowdfunding platform must be clear, impartial, timely, sufficient, accessible, objective, and not misleading. However, Akka cannot be held responsible in any case for the data, information, or content provided by a Startup, whether publicly accessible or not. It cannot guarantee the accuracy of these elements, nor correct errors or omissions they may contain. In this sense, Akka assumes no responsibility for damages arising from the use of the content displayed, transmitted via email, or through any other means through the Site or the Platform. Ultimately, Akka has no general obligation to monitor the data and content provided by Members or Startups.
Under no circumstances can it be interpreted that the information provided constitutes a recommendation, guarantee, or advice by Akka to the Member. Akka undertakes to:
(i) take all reasonable measures to ensure the security of the Platform;
(ii) inform the Member of reasonably foreseeable difficulties, particularly concerning the implementation of the Services or the proper functioning of the Platform;
(iii) conduct periodic checks to ensure the operation and accessibility of the Platform.
Additionally, Akka must comply in all its relations with the Member with the provisions of the applicable regulations.
Akka reserves the right to modify at any time the technical methods of access to the Services and/or the Platform based on technological advances or the range of services. It is the individual responsibility of the Internet User and the Member to ensure that their computer and telecommunications equipment are adapted to such changes.
The documentation and information published on the Platform are for informational and illustrative purposes only and do not constitute any form of investment, legal, accounting, or tax advice, or otherwise. All decisions made by the Member as a result of the Platform's information will be made solely by the Member.
Akka has obtained the information and materials included on the Platform from sources considered reliable, but while reasonable measures have been taken to ensure that the information contained is correct, Akka does not guarantee that it is accurate, complete, or up-to-date, and consequently, it should not be relied upon as such. Therefore, it does not guarantee or assume any responsibility regarding damages and losses arising from the use and utilization of the Platform's information, data, and services.
All information is provided by the Startups and is the sole responsibility of them. The Member expressly acknowledges that Akka does not verify or control the information provided by the Startups. It is the responsibility of the Members to collect and verify all the necessary information to make an investment decision.
The valuations of the Startups present on the Platform are established by the Startups themselves and are presented to Members without Akka having evaluated their relevance. The publication of these valuations does not in any way constitute a guarantee of the company's value. Members must collect all necessary information to form an opinion on the proposed valuation and determine whether the investment is appropriate.
The Member is aware that, unless otherwise indicated, the transactions offered on the Platform are not subject to an information document approved by the Finansinspektionen or the European Securities and Markets Authority (ESMA) nor to the Autorité des Marchés Financiers (AMF).
The Member explicitly acknowledges that neither the advice nor the information, whether verbal or written, obtained from Akka or during the use of the Platform, are likely to create guarantees or obligations that are not expressly provided in these Terms of Use.
The Member expressly acknowledges being fully aware that any investment in the capital of Startups carries a high risk of total loss of the invested capital and a total lack of liquidity at the end of the expected investment period.
Members have exclusive control over the management of their assets and assume full responsibility for their investments. Members are responsible for making informed decisions about their investments, taking into account their personal, family, patrimonial, financial, and tax situation.
The Member acknowledges that any investment made through Akka involves significant risks to their assets, as explained above, and declares to accept them without reservation for each of the investments made through the Platform.
The Member explicitly and irrevocably undertakes not to invest in financial products presented on the Platform in the following cases: (i) if they believe they do not have sufficient information to fully evaluate the investment opportunity, (ii) if they believe that their understanding of the proposed financial product and associated risks is insufficient, (iii) if their personal, family, patrimonial, financial, or tax situation does not allow them to invest serenely given the risky nature of the financial product they intend to invest in.
In any case, Akka cannot be held responsible for an inappropriate investment and disclaims all liability for the consequences of any kind, including financial, legal, and tax, arising from the subscription of financial securities.
In particular, without this being considered an exhaustive list, the Member releases Akka, its partners, directors, and/or employees from any liability for:
Investing in the projects published on the Platform may involve certain risks, such as the risk of total or partial loss of the invested capital, the risk of not obtaining the expected monetary return, or lack of liquidity. Therefore, we warn Members to invest only an amount they are willing to lose and suggest diversifying their investments to minimize and mitigate potential risks.
You can find a description of the main risks at the following link.
Investments made through the Platform are not guaranteed. This means that neither the Platform nor the project founders guarantee the recovery of the investment or the obtaining of a minimum return. There is no guarantee fund that ensures the recovery of the investment or the obtaining of a minimum return.
Akka has designed and implemented policies and procedures to minimize the risk of fraud in its operations, having the necessary organizational measures and means to reduce such risks, including:
The Referral Program is designed to reward our Members who recommend new potential members to the Akka club, thus promoting the expansion of our community. By participating in this program, provided that the conditions of the Referral Program are met, both Members and new referees can benefit from discounts and rewards established in these conditions.
Participation in the Referral Program is reserved for Members of the Akka club, provided they continue to be registered on the Platform. To be considered registered on the Platform, a Member must have completed all the information in their user profile and the KYC/KYB process successfully, as well as have made their first investment.
Participation occurs exclusively through the personalized referral link, which will be provided to the Member within their account on the Platform. The Member can access their referral link by logging into their profile, in the "Referral Program" tab where they will find the option to copy the link and share it with family, friends, and acquaintances.
The link must be shared personally and directly, respecting the prohibition of publication on online public channels or mass dissemination by any means. To be considered valid, the referee must register using that link.
Each new referred Member will receive a 10% discount on the first year's membership fee, provided they register through the referral link provided by an existing Member.
To be considered valid, a referee must:
It is not allowed for a Member to refer themselves or refer people who share the same email address.
The program is valid only for recommending new Members who have not been Members previously.
Akka reserves the right to refuse referrals it deems unsuitable to join the club and community, without the need to justify its decision or implying compensation for the Member or the referee.
The referral link is exclusively for private use and cannot be published or disseminated on any online public medium or platform, such as websites, social networks, or public forums. Additionally, mass distribution of the link via unauthorized electronic means is strictly prohibited.
In case of detecting improper use of the link, the referral program and related benefits will not apply to either the Member sharing the link or the referees.
The €300 referral rewards will be credited to the Member within 90 days of confirming the referee's acquisition of the membership fee. The amount will be credited to the wallet the Member has opened on Akka.
The 50% discount for three referrals will automatically apply to the next renewal of the Member's membership.
Rewards are non-transferable and not redeemable for other products or services unless explicitly indicated.
Akka reserves the right to modify or cancel the Referral Program at any time without prior notice. Referrals completed before any modification or cancellation of the program will remain valid, and the corresponding rewards will be granted based on the terms in effect at the time of the referral.
Any fraudulent activity or attempt to manipulate the Referral Program will result in disqualification and revocation of benefits. Akka reserves the right to revoke any referral reward if it suspects, without having to justify its suspicions, fraudulent activities or violations of these terms and conditions.
Akka will not be liable for any damages, direct or indirect, arising from the use or inability to participate in the Referral Program.
By participating in the Referral Program, both the Member and the referee accept and commit to complying with these terms and conditions of the Referral Program.
Regardless of the right of withdrawal, the Member may unilaterally cancel the contracted subscription and, therefore, unsubscribe from Akka at any time during its validity.
Cancellation can be made at any time during the validity of the plan. Such cancellation will take effect once the initial period of the one (1) year plan or the current renewal has ended. From the moment of the cancellation notice until the end of the initial period or the current renewal, the Member can continue to make investments and access online resources.
Such cancellation or termination will not, in any case, result in the refund of amounts the user has paid as consideration for the subscription to the service. Such amounts are non-refundable.
To cancel the subscription, the Member must write an email to contact-nordics@akka.app
Without prejudice to damages that Akka may claim, Akka reserves the right, at any time, to suspend or terminate the Member's access to the Service and/or terminate the contractual relationship resulting from the subscription, without notice or compensation or refund of any part of the costs associated with the subscription and membership in the Akka club. In particular, in the following cases:
In case of violation by the Member and if they have made a payment, the Member will not be entitled to a refund of the amounts paid nor to continue accessing the Platform. In the event that the violation is due to non-payment by the Member, Akka reserves the right to take actions that are legally necessary to enforce the monetary obligations arising from the subscription, including the request for corresponding late payment interest.
In the event that the Member is in default of payment for any reason whatsoever, Akka will notify the Member of this circumstance, giving him/her a period of five (5) days to regularize the situation and make the outstanding payment. If the Member continues without regularizing his/her situation, the following provisions shall apply:
This clause does not limit Akka's other rights to recover amounts due under applicable law.
30.4 Investments Made Before Cancellation
If you have invested in one of the projects presented by Akka through its Site, you will retain that stake until its conclusion by Akka through Akka's exit from the Startup or the sale of that stake to another Member. In this sense, you will remain bound to Akka for that stake and must fulfill the obligations arising from obtaining a capital gain in the sale of such stakes, as established in clause 8.3 of these Terms of Use.
Likewise, in this situation, you can continue to access Akka's platform solely to stay informed about the status and evolution of your investments. In no case can you make greater use of Akka's platform than indicated or of the services it offers.
Akka is the owner of the Platform, including its technical, graphic, textual, and other aspects, with the exception of content provided by Members and Startups.
Consequently, Akka is the sole holder of the intellectual property rights relating to the Site and the Platform, its content, and the databases that guarantee its operation. The use of the Site and the Platform does not grant any rights to Members regarding these elements, except for rights associated with content provided by Members and Startups.
Acceptance of these Terms of Use implies that the Member acknowledges the intellectual property rights held by Akka as mentioned above and undertakes to respect them.
Members can submit complaints and disputes via the following email address: contact-nordics@akka.app
Akka is obliged to manage and resolve complaints and disputes submitted by its Web Users and Members through any means to this service within one month of their submission. After this period, the interested party may contact the Finansinspektionen Complaints Service.
In any case, it is necessary to exhaust the route of the entity's customer service department or service to be able to file complaints, but if you disagree with the response received, or if a month has passed without a response, there is a Complaints Service of the National Securities Market Commission (affiliated with the Finansinspektionen Members Department), to which you can submit a complaint through the following means:
Additionally, a member assistance phone number is available: +46 (0)8 408 980 00.
During the use of the Site and the Platform, Akka collects personal information from its Members. Akka is committed to complying with applicable privacy laws regarding the automated processing of personal data, as defined by Regulation (EU) 2016/679 of the European Parliament and of the Council of April 27, 2016, concerning the protection of natural persons with regard to the processing of personal data and the free movement of such data.
Akka commits to maintaining the confidentiality of personal information provided in this way. This information is intended exclusively for Akka for internal processing purposes and will not be shared under any circumstances with third parties for commercial purposes. This information and data are also stored for security reasons, to comply with the legal and regulatory obligations to which Akka is subject. These data are processed and stored by the hosting provider of the Site, as identified in the legal notice provided on the Site, under conditions that guarantee their security.
Akka reserves the right to use personal information collected in anonymous form, as well as technical and navigation information—such as the type of browser, Internet protocol address, pages visited, and average time spent on the Site—as part of activities related to the analysis and promotion of the Site.
Members are informed that their data may be disclosed in accordance with a law, regulation, or pursuant to a decision of a competent regulatory or judicial authority, or if Akka deems it necessary as part of a legal proceeding.
In accordance with GDPR regulations, you can exercise your rights by contacting Akka via email at the following address: contact-nordics@akka.app
For more information, please consult our Privacy Policy.
The Member may not assign, transfer, delegate, or in any way substitute their contractual position towards Akka.
If one or more clauses of the Terms of Use are declared null and void pursuant to a law, regulation, or following a final decision of a competent court, the remaining clauses will retain all their force and scope to the extent of such decision.
Akka reserves the right to modify the Terms of Use at any time and without prior notice. Any modification will be communicated in the manner that Akka deems appropriate, particularly via email. If the Member does not express any objection within a period of ten (10) days, the modifications will be considered accepted and will take effect on the date indicated in the notification sent to the Member.
The subscription is considered made in Swedish territory; therefore, for any interpretative issue or dispute that may arise, Swedish legislation will apply, and in case of dispute, both parties agree to submit, waiving any other jurisdiction that may correspond to them, to the jurisdiction of the Courts of the Member's domicile.
Finally, we remind Web Users and Members that if they wish to file a complaint for any incident in the contractual relationship, they can submit the appropriate complaint by filling out the following electronic form: ec.europa.eu/consumers/odr/
Updated version: June 27th, 2025
