Effective as of 01 January 2022

Last Updated on 30th September 2024

Legal Notice: This website is an information only website of Elever Investment Adviser Private Limited, a private limited company incorporated under the Companies Act, 2013 having its office at Smartworks, Vaishnavi Tech Park, 5th Floor, South Wing, Bellandur Gate, Ambalipura, Bengaluru – 560103, Karnataka, that features the offerings for various Elever products/services and allow users to register and subscribe to robo-advisory services offered by Elever Investment Adviser Private Limited (“Elever,” “we,” “us” or “our“). We, have established this privacy policy (“Privacy Policy”) to explain how we collect, use, share and protect information that we may gather from www.elever.app. and the Elever mobile application, an artificial intelligence (AI) capable robo-advisory platform (collectively “Elever App”). This Privacy Policy does not apply to information that we may collect from you outside of the Elever App, such as third-party service providers, over the phone, by fax, or through conventional mail, to the extent such information is not digitised by us post collection from you. In addition, please note that all users and records are protected by Elever as required by Applicable Laws in the Republic of India.

Scope of this Policy

Elever respects the privacy of our users (“user” or “you” or “your”). This Privacy Policy describes how Elever collects, uses, discloses, otherwise processes and safeguards your information when you visit our Elever App. Please read this Privacy Policy carefully. If you do not agree with the terms of this Privacy Policy, please do not access the Elever App.

We are committed to protecting the privacy of our users and customers. This Privacy Policy is especially directed at:

• visitors and subscribers of the Elever App;
• natural persons contacting us through the contact or other forms available on the Elever App;
• users signing in to the Elever App to use our Services.

This Privacy Policy is intended to inform you how we gather, define, and use information that could identify you, such as your name, email address, address, other contact details, online identifiers or other information that you provide to us when using our Elever App or when relying on our Services.

This Privacy Policy includes a description of your data protection rights as laid down under the Applicable Laws for the time being in force.

We reserve the right to make changes to this Privacy Policy at any time and for any reason. We will alert you about any changes by updating the “Last Updated” date of this Privacy Policy. Any changes or modifications will be effective immediately upon posting the updated Privacy Policy on the Elever App, and you waive the right to receive specific notice of each such change or modification, to the extent permissible under Applicable Laws.

You are encouraged to periodically review this Privacy Policy to stay informed of updates. You will be deemed to have been made aware of, will be subject to, and will be deemed to have accepted the changes in any revised Privacy Policy by your continued use of the Elever App after the date such revised Privacy Policy is posted.

User Consent

By visiting the Elever App or setting up/creating an account on the Elever App for availing the Services and clicking on the “I accept” button provided on the Elever App, you confirm that you have read, understood and provide your explicit consent and agree to be bound by the terms and conditions of this Privacy Policy. This Privacy Policy is incorporated into and subject to Our terms and conditions (“Agreement”) and shall be read harmoniously and in conjunction with the Agreement. All capitalized terms used and not defined in this Privacy Policy shall have the meaning ascribed to them under the Agreement.

Personal Information You Provide

You can access Elever App and information provided therein without divulging any Personal Information. Our Elever App does not collect Personal Information about individuals except when such individuals specifically provide such information on a voluntary basis. Such personal information includes (a) name, email address, phone number, date of birth and Permanent Account Number (PAN) for the purpose of registering on the Elever App to avail our Investment Advisory services by using and downloading Elever App; (b) name, details of political exposure, marital status, mobile number, nationality, occupation, PAN, spouse name, mother’s name, email ID, date of birth, city of birth, proof of identity and copy of ID, address details, address proof, bank account details and demat account details to avail our Portfolio Management Services (c) your date of birth and PAN for the purpose of conducting KYC check and as part of the Risk Questionnaire, (d) your email ID and phone number provided when requesting additional information by contacting us; (e) your email ID and name provided when signing up for our newsletter; (f) your email ID and phone number provided when requesting help, or accessing, adding to, or changing the information on your account information/ registration/ signup window of the Elever App (collectively “Personal Information”). When you register or sign up or login to avail our Services on our Elever App, we may collect the above-mentioned Personal Information regarding you for the purposes mentioned above. This Personal Information may be collected on our Elever App, or via electronic mail or via telephone.

If you are using the Elever App as a first time visitor - The information we may collect includes certain data about your interaction with our website, such as pages visited and average time spent on the website, your internet protocol address, the unique identifier of your device and device information such as operating system, operating system version, browser plugins, crashes, system activity, hardware settings, date and time of your request and referral URL, and cookies that may uniquely identify your browser and mobile application (“Website Information”). We use this Website Information to analyze how you use our website / Elever App and improve the information provided through the website / Elever App. We may also supplement the information we collect with information we receive from third parties. For example, we may use marketing segments developed by us or other companies to customize certain services to your local area and provide relevant offers tailored to you.

In order to avail the Services offered by or on the Elever App, you are required to register for an account on our Elever App and are required to provide Personal Information which may include ‘Sensitive Personal Information’ under Regulation 3 of the Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Data or Information) Rules, 2011 (“SPDI Rules”) as may be amended or replaced from time to time . Personal Information provided in acceptance of this Privacy Policy shall amount to written consent under Regulation 5 of the SPDI Rules.

After you complete your registration for Investment Advisory and/or Portfolio Management Services by providing the information mentioned above, a user name and password (collectively, “Login Credentials”) will be generated after due OTP verification. You may be asked to give us additional information in order to use certain features of the Elever App, subject to obtaining your explicit consent in accordance with applicable laws. The purposes for which such additional information will be used will be communicated to you at the time of seeking the additional information.

Further, as set out above, we collect Personal Information when you are using our Financial Planning tools or registering with us for setting up of an Investment Account. This may include, inter alia, conducting KYC check and as part of the Risk Questionnaire, , conducting KRA check, or providing Execution Consent for your Brokerage Account. This information is primarily collected for regulatory compliance with Applicable Laws in order to enable/ create and/or activate your account with Brokerage Houses, to enable you to conduct online transactions. This information including KYC, Risk Questionnaire and financial information collected to generate the ‘Elever Money Score’ and to conduct consent based financial tracking shall be stored with us and shared with select third parties such as our group companies, KYC Registration Agencies (KRA), KYC solution providers, RBI approved Account Aggregators, Geo-Location based Intelligence providers, Brokerage Houses, Payment Gateway providers in order to enable us to complete your registration as a Client with us and to process any transaction requests that you authorize, maintain a record of your transactions and holdings, generate and send reminders, alerts, notifications to you for transactions, recommended goals, upcoming funds transfers etc.

We may collect other information which includes instrument name, trade quantity, trade price, time stamp is collected, about your transactions, and how you interact with third parties such as your brokerage house when you conduct trading transactions such as the purchase and/or redemption of securities, units in a mutual fund scheme. This information helps us to provide our Services to you. We encourage you to read the Agreement to understand further about how your information is collected and used.

We also collect other personally identifiable information from you, such as your name, address, email address, and telephone number, and demographic information, such as your age, gender, hometown, and interests, that you voluntarily give to us when you choose to participate in various activities related to the Elever App. You are under no obligation to provide us with Personal Information of any kind, however your refusal to do so may prevent you from using certain features of the Elever App.

We may obtain some of your information including Personal Information from third parties, or from publicly available sources. This Privacy Policy shall not apply to any information including your Personal Information made publicly available by you. The third parties from who we obtain your information include our business partners, independent service providers, our group entities, various merchants, marketplaces, re-sellers, banks, payment partners, payment aggregators, payments systems, payment service providers, financial institutions and from credit reference agencies and credit bureaus on your behalf etc. You hereby provide your consent for us to do so subject to the Applicable Law for the time being in force.

While we are responsible under Applicable Laws in India to ensure completeness, accuracy and consistency of your Personal Information, we cannot comply with this obligation without your due co-operation. You acknowledge and agree that you are responsible for ensuring that the Personal Information you provide is accurate, complete and current and that you will co-operate with us to ensure that such Personal Information is complete, accurate and consistent till such time such Personal Information is processed by us.

You also agree that all the information shared by you with Elever is lawful, true and correct and does not violate or infringe any Applicable Laws. In case of any violations, infringement, furnishing of wrongful or unauthorized information, Elever shall not be liable to you or to any third party for the same.

You acknowledge that if we determine that any information you have provided or uploaded violates the terms of this Privacy Policy, we have the right, in our absolute discretion, to delete or destroy such information without incurring any liability to you.

We do not voluntarily or actively collect, use or disclose Personal Information of minors according to the minimum age equivalent in the relevant jurisdiction or of persons with disability, without the prior verifiable consent of the parents or guardians of the minor, as required under Applicable Laws. If we learn that we have collected the Personal Information of a minor, without first receiving a verifiable parental consent, we will take steps to delete the information in a manner consistent with Applicable Laws of India as soon as possible.

Use of Your Information

Having accurate information about you permits us to provide you with a smooth, efficient, and customized experience. Specifically, we may use information collected about you to:

• Identify you as a user in our system;
• create your Login Credentials or establishing your account;
• Respond to your queries about the Services;
• Deliver to you any notices, alerts, or communications relevant to your use of other Services;
• Offer you other products or services that we believe may be of interest to you;
• Facilitation and provision of our Services to you either directly or through a Service Partner;
• Aggregate the anonymised information from registered users to perform market research, project planning, product development, troubleshoot problems, analyse user behaviour, marketing purposes, and promotions; and enforce the Agreement and any terms thereof;
• Use the information we collected online or offline in conjunction with the Personal Information you have provided us with, or information that is publicly available from other sources to customize your experience and our communication with you both online and offline;
• Offer you other products or services that we believe may be of interest to you;
• Prevent and detect fraud or abuse of our services as well as to prevent, detect and investigate any potential unlawful or prohibited activities.

We generally do not disclose your Personal Information to other companies that provide services for us, exept where/ when such information is shared with it is disclosed on a need-to-know basis and based on specific consent obtained from you. We may use third party Service providers to enable us in providing some Services to you such as opening and operating Brokerage account, conducting KRA check, conducting KYC check and onboarding, sending e-mail messages, SMS, WhatsApp and in-app notifications, analysis of non personally identifiable information for product/ service personalization, to you, customer support (online & offline) collecting a fee for our services, and providing product & technical support regarding an issue with any feature or functionality on the Elever App.

When you provide us with your Personal Information either while setting up an account with us or later, it is kept maintained by the division that is responsible for your account management. You can view and/or update/edit this information by logging in to your account through our Elever app.

Personal Information collected will not be used for any purposes other than those mentioned herein. You may withdraw your consent for the use of the Personal Information at any time by deactivating your account. Withdrawing your consent will not affect the lawfulness of any processing we conducted prior to your withdrawal, nor will it affect processing of your personal data undertaking on grounds of legitimate uses set out in Applicable Laws.. In the event you choose to withdraw your consent for collecting and processing your Personal Information, we will be unable to provide you with our products and services.

In general, you can browse the Elever App without telling us who you are or revealing any Personal Information about yourself. In such a case, we will only collect and store non – personal information. Once you give us your Personal Information, you are not anonymous to us. Wherever possible, while providing the information to us, we indicate which fields are mandatory and which fields are optional for you. You always have the option to not provide the Personal Information to us through the Elever App by choosing to not use a particular Service or feature being provided by us on the Elever App, which requires you to provide such information. We may automatically track certain information about you based upon your behaviour on the Elever App. We use this information to do internal research on your demographics, interests, and behaviour to better understand, protect and serve you. This information is compiled and analyzed by Elever on an aggregated basis and not individually, in a manner that does not specifically identify you. However, please note that we do not track the behavior of persons who are minors (i.e., persons below the age of 18 years).

Notwithstanding anything contained herein, Elever may, in compliance with Applicable Laws in India, process your Personal Information without obtaining your consent in the event: (a) you have voluntarily provided your Personal Information to Elever, and have not indicated that you do not consent to the use of such Personal Information by us; (b) the purpose is for fulfilling any obligation under any law for the time being in force in India on any person to disclose any information to the State or any of its instrumentalities, subject to such processing being in accordance with the provisions regarding disclosure of such information in any other law for the time being in force; (c) the purpose is for compliance with any judgment or decree or order issued under any law for the time being in force in India, or any judgment or order relating to claims of a contractual or civil nature under any law for the time being in force outside India; (d) the purpose is for responding to a medical emergency involving a threat to the life or immediate threat to the health of the user or any other individual; (e) the purpose is for taking measures to provide medical treatment or health services to any individual during an epidemic, outbreak of disease, or any other threat to public health; or (f) the purpose is for taking measures to ensure safety of, or provide assistance or services to, any individual during any disaster, or any breakdown of public order.

Disclosure of Your Information

We may share information we have collected about you in certain situations. Your information may be disclosed as follows:

i. By Law or to Protect Rights

If we believe the release of information about you is necessary to respond to legal process, to investigate or remedy potential violations of our policies, or to protect the rights, property, and safety of others, we may share your information as permitted or required by any Applicable Law, rule, or regulation. This includes exchanging information with other entities for fraud protection and credit risk reduction.

ii. Third-Party Service Providers

We may share your information with third parties that perform services for us or on our behalf, including payment processing, data analysis, email/SMS/WhatsApp delivery, hosting services, customer service, and marketing assistance. Such third parties are required to maintain the confidentiality of the information we provide to them under contract and under Applicable Law.

iii. Marketing Communications

With your explicit consent, or with an opportunity for you to withdraw consent, we may share your information with third parties for marketing purposes, as permitted by law.

iv. Affiliates

We may share your information with our affiliates, in which case we will require those affiliates to honor this Privacy Policy. Affiliates include our parent company and any subsidiaries, joint venture partners or other companies that we control or that are under common control with us.

v. Business Partners

We may share your information with our business partners to offer you certain products, services or promotions.

vi. Employees

All employees of Elever have been selected in accordance with our strict security policies and practices and are bound by confidentiality obligations. Elever employees are subject to stern disciplinary action, including termination, civil liability, and criminal prosecution, if they fail to meet any of these obligations, as stated.

vii. No sale, distribution, trade, lease or rent of Personal information of users

Under no circumstances, Elever will sell, distribute, trade, lease or rent the Personal Information of its users to anyone, for any reason(s).

Use of Cookies

The Elever App uses “cookies” to help personalize your online experience. A cookie is a text file that is placed on your hard disk by a Web page server. Cookies cannot be used to run programs or deliver viruses to your computer. Cookies are uniquely assigned to you. We use cookies to keep track of how you are using the Elever App to tailor Web and App content to your interests. Elever cookies do not contain personal information about the registered Users subscribed to our Services.

We will not share or sell non-aggregated information contained within cookies to any third party.

You also have the ability to accept or decline cookies. Most web browsers automatically accept cookies, but you can usually modify your browser setting to decline cookies if you prefer. If, however, you choose to decline cookies, you may not be able to fully experience the interactive features of our Elever App or have some of our services on the Elever App function properly, or at all.

Our Commitment to Data Security

Elever follows industry best practices, using open and known principles when transferring and storing your data, including your profile pictures. We believe the biggest threat to the security and privacy of your data is if someone – probably someone you know – gains access to any of your devices. Remember to keep Login Credentials including your password safe and secret to prevent unauthorized access to your account. If you think that the security of your account has been compromised, change your password and contact us at support@elever.app immediately for further assistance.

To prevent unauthorized access, maintain data accuracy, and ensure the correct use of information, we have put in place commercially reasonable physical, electronic, and managerial procedures to safeguard and secure the information, including profile pictures we collect.

We use administrative, technical, and physical security measures to help protect your personal information. While we have taken reasonable steps to secure the personal information you provide to us, please be aware that despite our efforts, no security measures are perfect or impenetrable, and no method of data transmission can be guaranteed against any interception or other type of misuse. Any information disclosed online is vulnerable to interception and misuse by unauthorized parties. Therefore, we cannot guarantee complete security if you provide Personal Information. For the avoidance of doubt, if any Personal Information is compromised despite our efforts to prevent the occurrence of the same, you shall not hold us liable for such breach of privacy protection under this Privacy Policy.

It may be noted that we may retain the data as may be provided to us till such time as may be provided under the Applicable Law and as required to efficiently provide Service to our users.

Exercise Your Rights

We respect your right to be informed, access, correct, request deletion or request restriction, portability, objection, and rights in relation to automated decision making and profiling, in our usage of your Personal Information as required by applicable law. We also take steps to ensure that the Personal Information we collect is accurate and up to date and deleted when data is no longer required. Your rights are subject to defined conditions and feasibility to exercise such rights and subject to geo locations applicability.

Your Rights:

• You have the right to know what Personal Information we maintain about you subject to availability.
• You have a right to (a) ask us for a summary of Personal Information being processed by us and the processing activities undertaken by us with respect to such Personal Information; (b) the identities of all other third-party entities with whom the your Personal Information has been shared by us, along with a description of the Personal Information so shared, except when such sharing is pursuant to a written request by such entity who obtains the information for the purpose of prevention or detection or investigation of offences or cyber incidents, or for prosecution or punishment of offences. When approached by you for a summary of your Personal Information, we will provide you with a copy of your Personal Information in a structured, commonly used and machine-readable format on request subject to availability
• If your Personal Information is incorrect or incomplete, you have the right to review and ask us to update it. You may correct or update any information, including your Personal Information online. You have the right to ask us to correct inaccurate or incomplete or misleading Personal Information concerning you or update your Personal Information (which you cannot update yourself online) by contacting support@elever.app. In the event of loss of access details, you may retrieve the same or receive new access details by sending an e-mail to: support@elever.app.
• You have the right to object to our processing of your Personal Information only if the data is processed
• You can also ask us to delete or restrict how we use your Personal Information, but this right is determined by Applicable Law and may impact your access to some of our services. You may choose to withdraw your consent (including regarding processing of data by us or by any third party or regarding data retention) provided hereunder at any point in time. Such withdrawal of the consent must be sent in writing to support@elever.app. In case you do not provide your consent or later withdraw your consent, we request you not to access the Elever App and use the Services and also reserve the right to not provide you any Services on the Elever App. In such a scenario, Elever may delete your information (personal or otherwise), unless otherwise required under Applicable Laws. Further, Elever may also de-identify such information so that it is anonymous and not attributable to you.
• You have a right to erasure, which is also known as ‘the right to be forgotten’ and, in simple terms, enables you to request the deletion or removal of your Personal Information where there’s no compelling reason for us to keep it. Such right of erasure can be exercised by writing to us at support@elever.app. On such a request for erasure, we shall delete all your Personal Information stored by us, as well as ensure that any third party service provider processing your Personal Information on behalf of us deletes all Your Personal Information. This is not a general right to erasure; there are exceptions, such as when Applicable Laws require us to retain certain personal information about you or where such retention is required for providing our services to you, etc.
• You have the right to access your Personal Information which may vary from visitor to visitor.
• You have a right to object to processing of your Personal Information where it is so conducted by automated means and involves any kind of decision-making subject to discovery that your data was used for automated means.
• You shall have the right to nominate, in a manner prescribed by the Central Government, any other individual, who shall, in the event of your death or incapacity, exercise your rights in accordance with Applicable Law in India.
• You are permitted to give, manage, review or withdraw your consent provided to Elever to process your Personal Information through a ‘consent manager’. A consent manager is an entity that is registered with the Data Protection Board. The consent manager is accountable to you and can assist you in providing or withdrawing your consent to us to process your Personal Information, on your behalf. Such consent managers must comply with the obligations imposed on them as may be prescribed by the Central Government.

Data Retention

We shall be entitled to retain Your Personal Information and other information for such duration as may be required for the purposes specified hereunder or for such other periods as may be required under the Applicable Laws and the said information will be used by Us only in accordance with this Privacy Policy. Upon the purpose being fulfilled or upon receiving a request from you for erasure of your Personal Information, we shall delete the same and ensure that any third party service provider processing your Personal Information on behalf of us deletes the same, except when Applicable Laws require us to retain certain personal information about you.

Our Legal Obligation to You

We are bound by the (Indian) Information Technology Act, 2000, and comply with all its provisions. Under Section 43A of the (Indian) Information Technology Act, 2000, Elever and all its Service Providers are obliged to maintain reasonable security procedures to safeguard your data. Under Regulation 5 of the Information Technology (Reasonable Security and Procedures and Sensitive Personal Data or Information) Rules, 2011, we are obliged to provide every registered user of Elever with a readable copy of the personal information you have provided us.

Contact Us

If You have any grievance with respect to the Elever App or the Services, You may write to the grievance officer, the name and contact details have been provided below:

Name: Darshana Kothari

Email: compliance@elever.app

Address: Vaishnavi Tech Park, 5th Floor, South Wing, Bellandur Gate, Ambalipura, Bengaluru – 560103, Karnataka,

We will resolve your concern in an efficient and timely manner, and in a manner compliant with Applicable Laws in India.

In the event you have exhausted your opportunity of redressing your grievances with respect to your Personal Information through the grievance officer, you may raise your concern to the Data Protection Board of India in the manner prescribed under Applicable Laws in India.

While you have the right to raise complaints with both Elever and the Data Protection Board of India, please note, registering of false or frivolous complaints with the Data Protection Board is a punishable offence.

Changes to the Privacy Policy

We will occasionally amend this Privacy Policy to company with regulatory obligations and legal developments and reflect company and customer feedback. We reserve the right to change, modify, add, or remove portions of this policy at any time. If we materially change our use of your Personal Information, we will announce such a change on our website, and will also note it in this Privacy Policy. The effective date of this Privacy Policy is documented at the beginning of the Privacy Policy. If you have any questions about our Privacy Policy, please contact us in writing at support@elever.app.