Terms of use

Pennytree Business Limited (“Pennytree”, “we”, “us”) operates an investment crowdfunding portal in Nigeria and is listed in the Securities and Exchange Commission (“SEC”) public directory as a Crowdfunding Platform. Our regulatory details are set out in our Regulatory disclosures.

We are not a broker-dealer acting for you, we do not give investment advice, and we do not recommend any offer. At the effective date of these terms, offers are not yet open for subscription.

You must provide accurate information when you register, including your legal names exactly as they appear on your BVN, and keep it up to date. You must complete identity verification before you can invest. You are responsible for keeping your password, PIN and one-time codes secret and for activity on your account. Tell us promptly if you suspect unauthorised access.

You may not subscribe to an offer until you have affirmed each risk statement individually. That acknowledgement is separate from your acceptance of these terms and does not replace it. Accepting these terms is not an acknowledgement of risk. Please read our Investment risk disclosure.

If you invest as a retail investor, you may not invest more than 10% of your net annual income across all crowdfunding portals. You are responsible for the accuracy of the income and running-total figures you declare. We will not accept a subscription that would take you over the limit that applies to you.

Subscription monies are held by an SEC-registered custodian in a separate interest-yielding trust account for each funding round. They are released to the fundraiser only when the offer has met its minimum threshold, there is no unresolved material adverse change, and the securities registration has been confirmed.

You may cancel your subscription for any reason up to 48 hours before an offer closes. If a material adverse change occurs before closing, you may rescind within seven days of its public disclosure, provided proceeds have not been transferred. Cancellation refunds and releases are made within 48 hours of your request. If an offer does not reach its minimum threshold, subscriptions are refunded within 48 hours of its close.

A fundraiser warrants that its disclosures are true, complete and not misleading, must notify us of any material adverse change within 24 hours of becoming aware of it, and must meet its ongoing reporting obligations for as long as its instrument is outstanding.

You may not use the portal to state or promote that an investment is guaranteed, safe, risk-free or capital-protected, or that it promises a specific return. You may not use the portal for fraud, to impersonate another person, to provide false information, or to interfere with its security or operation. We may suspend or close an account that breaches these terms.

We retain the records the SEC rules require for at least seven years, and will respond to requests from investors for relevant documents within five working days. We process personal data in line with applicable Nigerian data protection law, as described in our Privacy policy.

We may update these terms. Each version carries a version number and effective date at the top of this page, and earlier versions remain available in the version history below. If we publish a new version, we will ask you to review and accept it the next time you sign in.

Our complaints procedure is published on this site. These terms are governed by the laws of the Federal Republic of Nigeria. Where they conflict with the SEC Rules on Crowdfunding, the Rules prevail.

Questions about these terms can be sent to hello@mypennytree.com.