Terms and conditions of us
Preamble
Blast.club's mission is to allow individuals or legal entities to become members of its private investor club, enabling them to indirectly subscribe to securities issued by companies seeking capital.
Blast.club will preselect investment opportunities, publish them on its website, provide startups (as defined in Article 1) with collection and subscription services, and offer its subscribing members the information needed to make investment decisions. Blast.club will keep members who have subscribed informed about the status of the companies they have invested in.
Article 1 • Definitions
Algorithm: Refers to the formula used to allocate investment shares when members' intents exceed the maximum investment amount for a dedicated SPV. Further details are found in the article "How are fundraising allocations defined?"
PSP Bank: LEMONWAY or any other payment service provider that will handle the subscribed amounts.
Blast Club: Refers to the company Blast, a simplified joint-stock company registered in Paris, operating as a crowdfunding service provider.
Priority Voucher: A right allowing some members to guarantee their participation in an investment opportunity up to their desired amount, even if intents exceed the maximum SPV investment limit.
Conditions of Use: These terms and conditions.
FICI: Key investment information document, as per EU Regulation 2020/1503.
Equity Crowdfunding: A financial operation to increase the capital of a growing company.
Internet User: Anyone browsing the site without requesting access to the services, i.e., not a member.
Member: An individual or legal entity whose access request has been approved by Blast Club.
Subscribed Amount: The amount paid by a subscriber as part of a crowdfunding offer.
Crowdfunding Offer: The offer presented by a startup on the platform.
Subscription Period: The phase in which a member must confirm their intention by subscribing to the SPV's securities.
Intent Period: The phase in which members can indicate their intention to subscribe to SPV securities.
Risk Questionnaire: A required questionnaire related to risks inherent in crowdfunding offers.
Services: The services offered by Blast Club, as described in Article 4.
Website: The Blast Club website accessible at https://blast.club/
Subscriber: Any member who makes a subscription and pays the corresponding subscribed amount.
Subscription: The commitment by a subscriber to participate in a crowdfunding offer.
SPV: The special-purpose vehicle that consolidates subscribers to simplify a startup's shareholder management.
Startups: Companies seeking equity crowdfunding on the site.
Acceptance of the Terms of Use
By browsing the site, the Internet User accepts the Terms of Use. If they do not agree, they should not use the site.
These terms apply without limitation throughout the user's navigation of the site, or until the termination or replacement of the terms, in accordance with Article 11.
Right of Access to Services
Blast Club restricts access to certain information to members only. To become a member, an Internet User must be selected, create an account, pay the access fee, and accept the Terms of Use.
Blast Club reserves the right to accept or refuse access requests without justification.
Access to the Website
Public pages available to all include legal mentions, privacy policies, risk warnings, and fee information. However, detailed crowdfunding offers are only accessible to members.
For membership, the user must fill out a risk questionnaire and provide identity verification.
Once all steps are validated, Blast Club notifies the user about their membership status within 24 hours.
Services Description
Blast Club offers members access to:
Startup profiles.
The opportunity to invest in SPVs.
A trading board (coming soon).
Events between members and startups.
Blast Club provides general information about the startups but does not offer investment advice.
Blast Club Fees
Services are paid, except for events. Membership levels include Bronze, Silver, Gold, Platinum, and Diamond, each with different investment limits and priority vouchers.
Responsibilities
Blast Club has an obligation of means, not results, and cannot guarantee that the services will be error-free or always available.
Blast Club charges investment fees at the end of the Subscription Period, ranging from 3% to 5% of the subscribed amount, depending on the member's status:
Bronze and Silver: 5%
Gold and Platinum: 4%
Diamond: 3%
Additionally, 5% of the subscribed amount will be retained within the SPV for operational fees, regardless of the holding period of the participation.
Capital Gains Fees
Blast Club also charges a 20% fee on the capital gains realized during:
The transfer of shares by an SPV associate.
Any distribution or liquidation product received by an associate.
Any capital reduction resulting from a partial or total sale of shares held by the SPV.
The fee is based on the difference between the selling or liquidation price and the acquisition price of the shares, excluding Blast Club membership fees, investment fees, and other related costs.
These amounts are calculated excluding VAT, which will be added according to the applicable rules.
Additional Credits and Boosters
Members can purchase additional investment credits and boosters through the site’s store to increase their investment limits beyond those defined by their membership tier. These services are tax-exempt and paid via bank transfer or card. Unused credits and boosters expire at the end of the membership unless the membership is renewed.
Information on Taxation
Members acknowledge that capital gains from the sale of non-listed company shares are subject to tax, and the specific conditions depend on each individual’s tax situation.
Commitments and Responsibility of Blast Club
Blast Club commits to providing services diligently, but without guaranteeing results. It does not guarantee that services will be free of errors or interruptions and is not responsible for any damages resulting from errors in the information provided by startups.
Blast Club verifies only the consistency of the information provided by startups (FICI), assuming the data is accurate and complete. It is not obligated to monitor or remove non-illegal content, even if reported, but reserves the right to do so. Additionally, Blast Club is not responsible for third-party content or external websites linked from its platform.
In case of termination of its activities, Blast Club has entered into an agreement with Capsens, a service provider authorized to handle the ongoing operations of Blast Club, ensuring the continuation of activities under regulated crowdfunding provisions.
Limitation of Warranties
Information on the Website: Blast Club does not guarantee the accuracy, completeness, or validity of any financial information presented by startups on its platform. The data is provided by the startups and is their sole responsibility.
Investment Risks: Members acknowledge that investments in startups carry a high risk of total capital loss and liquidity issues. Members retain full control and responsibility for their investment decisions, based on their personal, financial, and legal situation. Blast Club cannot be held liable for any inappropriate or unsuitable investment decisions made by members.
Members’ Responsibilities
Members must comply with all applicable legal and regulatory requirements and ensure the accuracy of the information provided to Blast Club. They are responsible for maintaining the confidentiality of their login credentials and for any actions taken on the site using their personal accounts.
Members are also required to use the site and its services for personal purposes only and must not share access with third parties unless they assume full responsibility for such actions. Any unauthorized use or sharing of login credentials must be reported immediately to Blast Club.
Confidentiality
Members have access to detailed information about startups. They agree to:
Not disclose any confidential information to third parties without the consent of Blast Club or the relevant startup.
Use the information solely for the purpose of evaluating investment opportunities.
Refrain from directly investing in startups presented by Blast Club outside of the SPVs.
This confidentiality obligation extends for two years after the membership expires.
Use of the Site and Services
Members and internet users must not attempt to violate the site's security, access unauthorized data, interfere with the site's operation, or introduce harmful software. Members are also responsible for ensuring that their internet connection and software are compatible with the site.
Members may access the Blast Club Discord forum as part of their membership to communicate with other members, the Blast Club team, and startup founders. Inappropriate or defamatory remarks are prohibited and may result in the termination of forum access.
Data Protection and Privacy Policy
Blast Club collects and processes personal data in compliance with the General Data Protection Regulation (GDPR). Personal information is kept confidential and used solely for internal purposes. It will not be shared with third parties for commercial purposes.
Members can access, modify, or delete their personal data by contacting Blast Club at support-membre@blast.club.
Intellectual Property
Blast Club owns all intellectual property rights associated with the site, including its design, content, and databases, except for content provided by members and startups. Members agree to respect Blast Club’s intellectual property rights.
Duration and Termination
The Terms of Use apply for an indefinite period, starting from the moment the member accepts them.
Termination by the Member: Members may terminate their access within 14 days of payment by contacting support-membre@blast.club. Termination will end their access to the site and services without refunding any fees already paid.
Automatic Termination: Blast Club reserves the right to terminate a member's access without notice if there is a violation of the Terms of Use, such as providing false information, circumventing security measures, or committing fraud.
Termination by Blast Club: Blast Club may terminate a member's access at its discretion and will refund any applicable fees.
Upon termination, members will retain access to their personal space for monitoring previous subscriptions.
Complaints
Members and internet users can file complaints by following the process described on the site. Blast Club commits to evaluating and addressing complaints in a timely manner.
Integrity of the Contract
If any clause of the Terms of Use is declared invalid by a court, the remaining provisions will continue in full force.
Modification of the Terms of Use
Blast Club reserves the right to modify the Terms of Use at any time. Members will be notified of any changes, and if no objection is raised within 10 days, the changes will be deemed accepted.
Proof
The sending and content of communications are established by simply producing a copy of such communication by Blast Club.
Applicable Law
The Terms of Use are governed by French law. Members must comply with the laws applicable in their country of residence and agree not to use the services if prohibited by their local laws.
Last Update
The Terms of Use were last updated on 06/25/2024.