Privacy Policy

Last updated: [Date]

1. Who we are

Colatr ("we", "us") provides collateral-backed loans against phones, accessories, and vehicles in Ghana, through our website, WhatsApp, and in-person branches.

2. Information we collect

• Identity information: your name, ID type and number (e.g. Ghana Card, passport, driver's licence), and photo of your ID where provided.
• Contact information: phone number, and address if provided.
• Collateral information: descriptions, photos, and estimated value of items you enquire about or pledge, including vehicle registration details.
• Loan information: amounts, interest, repayment history, and account status.
• Chat and website data: messages you send to our valuation assistant, and basic technical data needed to operate the site.

3. How we use your information

• To provide an estimated collateral valuation through our chat assistant.
• To assess, process, and manage your loan and collateral once you visit a branch.
• To contact you about your loan, repayment reminders, or account status.
• To meet our legal obligations, including under the Borrowers and Lenders Act, 2020.
• To improve our services and prevent fraud.

4. Our valuation assistant

Messages you send to our website chat assistant are processed by a third-party AI service provider in order to generate an indicative estimate. Do not share sensitive information beyond what's needed for an estimate. Final valuations are always confirmed by Colatr's verification team in person, and the chat estimate is not a binding offer.

5. Sharing your information

We do not sell your personal information. We may share it with:

• Our AI service provider, solely to generate chat-based valuation estimates.
• Regulators or authorities, where required by law (e.g. Bank of Ghana).
• Professional advisers (lawyers, auditors) bound by confidentiality.
• A buyer of defaulted collateral, limited to information necessary to complete the sale.

6. How long we keep your information

We retain loan and identity records for as long as required under Ghanaian law and our regulatory obligations, and delete or anonymize data we no longer need to keep.

7. Your rights

• Ask what personal information we hold about you.
• Ask us to correct inaccurate information.
• Ask us to explain how a decision about your loan was made.
• Withdraw consent for non-essential uses of your data, where applicable.

8. Security

We take reasonable technical and organizational measures to protect your information, including limiting who can access loan and ID records and storing physical documents securely.

9. Contact us

If you have concerns about how we handle your data, contact us via WhatsApp or the details on our homepage, or Ghana's Data Protection Commission.

10. Changes to this policy

We may update this policy from time to time. The latest version will always be available on this page.