What is the on-boarding process?
Soteria only allows Accredited Investors to invest in Pools.
If you are based in New Zealand, you will be an Accredited Investor on our platform if you meet the definition of a “wholesale investor” or “eligible investor” as set out in Schedule 1 to the Financial Markets Conduct Act of 2013. If you are unsure whether you meet this definition, please speak with your legal adviser.
If you are based in New Zealand, please follow the steps below to open your account with us:
- Sign up to create an account
- Enter in your details such as name, address, phone number
- Verify your email and complete Two-Factor Authentication or 2FA (please see the FAQs to learn more)
- Complete and sign the appropriate investor application form (Individual, Trust or Entity)
- Complete and sign the wholesale investor certification
After completing these steps, we will need to complete our Anti-Money Laundering processes in accordance with the Anti-Money Laundering and Countering Financing of Terrorism Act 2009. We partner with FirstAML to complete these processes and they will contact you directly to complete the verification process.
You will receive a notification after completing all these steps if your application to be an Accredited Investor has been approved. Soteria reserves the right to reject any application and is not required to give you a reason if it does so. If you are approved, you will be able to view confidential information about Loans on the Platform and invest directly into any Pool.
How do I invest in a Pool?
- Once you are an Accredited Investor, you may then transfer funds to our investor trust account. Until you choose to invest, these funds are held on bare trust for you by Soteria outside of the Programme.
- To invest in a Pool, click the “Invest” button on the Platform where you can allocate your funds to a Pool via the Platform.
- Once allocated, Soteria will then settle the acquisition of your interest in the Pool by transferring your funds from our trust account to the Loan Originator in exchange for Soteria acquiring (as trustee) a corresponding interest in the Loans in that Pool.
We do not give any recommendation or opinion as to whether you should use our service or make any investments through the Platform. Before making an investment, you should consider and assess whether the investment is suitable for you depending on your own financial circumstances and tolerance to risk. To help with this, you should seek any independent financial, legal and/or tax advice you need before you invest.