Aleora — Terms of Use

Last updated: 11 March 2026
Effective date: 11 March 2026

1. About These Terms

These Terms of Use (“Terms”) govern your access to and use of the Aleora financial modelling application (“the App”, “Aleora”), available at https://aleora.io. By creating an account or using the App, you agree to be bound by these Terms. If you do not agree, do not use the App.

Aleora is operated jointly by:

• Aleora SAS (in process of incorporation), 31 Rue Doudeauville, 75018 Paris, France (“Aleora”, “we”, “us”)
• Overfly GmbH, Pappelallee 78/79, 10437 Berlin, Germany — technical implementation and hosting partner

For questions about these Terms, contact: alexandergann@gmail.com

2. Description of Service

Aleora is a web-based financial modelling application that allows users to build, calibrate, and visualise financial models. The App is currently in alpha and is provided free of charge.

3. Alpha Status and Disclaimer of Accuracy

The App is in alpha. This means it is under active development and may contain bugs, errors, or incomplete features.

We make no representation or warranty that any calculations, outputs, projections, or results produced by the App are accurate, complete, or reliable. You must not rely on Aleora's outputs for investment decisions, financial reporting, regulatory filings, or any purpose where inaccurate numbers could cause harm or loss.

The App is a modelling tool, not financial advice. We are not a financial adviser, and nothing in the App constitutes a recommendation to buy, sell, or hold any financial instrument or make any financial decision.

4. Account and Access

To use the App, you must sign in with a valid email address. You are responsible for maintaining the security of your account and for all activity that occurs under it.

We reserve the right to suspend or terminate accounts at our discretion, including for violation of these Terms.

5. Your Content — Models and Data

You retain ownership of the financial models you create using the App, including their structure, assumptions, and input data (“Your Models”).

However, you acknowledge that:

• We may independently develop models, templates, or features that are similar to Your Models. Independent creation does not give you any claim over our work.
• We may use anonymised, aggregated usage patterns (not your specific model data) to improve the App.
• Your Models are stored exclusively in your browser's local storage on your own device. We do not store Your Models on our servers. When you run a model, the data is sent to our calculation engine for processing and is not retained after the results are returned.

6. Intellectual Property

6.1 Our IP

The App, its source code, design, user interface, documentation, and all associated materials are the copyright of Aleora SAS and its licensors. The underlying Aleora computational engine is the intellectual property of Alexander Gann.

All rights not expressly granted to you in these Terms are reserved.

6.2 Restrictions

You may not:

• Copy, reproduce, distribute, or create derivative works of any part of the App for commercial purposes
• Reverse engineer, decompile, or disassemble the App or any part of it, except to the minimum extent permitted by applicable law for interoperability purposes (as provided under EU Directive 2009/24/EC, Article 6)
• Use automated tools (scrapers, bots, crawlers) to extract data or content from the App
• Resell, sublicense, or commercially exploit access to the App or its outputs
• Remove or alter any copyright, trademark, or other proprietary notices

6.3 Interoperability Exception

Nothing in these Terms prevents you from performing acts necessary to achieve interoperability of an independently created program with the App, to the extent permitted by applicable law. This includes observing, studying, or testing the functioning of the App to determine the ideas and principles underlying it, provided you do so in the course of normal authorised use.

7. Acceptable Use

You agree not to use the App to:

• Violate any applicable law or regulation
• Infringe the intellectual property rights of any third party
• Upload malicious code or attempt to compromise the security of the App
• Interfere with or disrupt the App's infrastructure
• Impersonate another person or entity

8. Third-Party Services

The App uses the following third-party services to operate:

• Supabase — authentication and session management
• Vercel — hosting and deployment
• PostHog — analytics and error tracking
• Linear — feedback and issue tracking

Your use of the App is also subject to these providers' terms of service. We are not responsible for the availability or conduct of third-party services.

9. Availability and Changes

We may modify, suspend, or discontinue the App (or any part of it) at any time without notice. Given the alpha status of the App, features may change significantly between sessions. We are under no obligation to maintain backward compatibility.

10. Limitation of Liability

To the maximum extent permitted by applicable law:

• The App is provided “as is” and “as available”, without warranties of any kind, whether express or implied, including but not limited to warranties of merchantability, fitness for a particular purpose, or non-infringement.
• We shall not be liable for any indirect, incidental, special, consequential, or punitive damages, or any loss of profits, revenue, data, or business opportunity, arising out of or in connection with your use of the App.
• Our total aggregate liability for any claims arising from your use of the App shall not exceed EUR 0 (zero), reflecting the free nature of the service during alpha.

Nothing in these Terms excludes or limits liability for death or personal injury caused by negligence, fraud, or any other liability that cannot be excluded or limited under applicable law.

11. Indemnification

You agree to indemnify and hold harmless Aleora SAS, Overfly GmbH, and their respective directors, officers, and employees from any claims, damages, or expenses arising from your use of the App or violation of these Terms.

12. Governing Law and Jurisdiction

These Terms are governed by the laws of France. Any disputes arising from these Terms or your use of the App shall be subject to the exclusive jurisdiction of the courts of Paris, France.

13. Changes to These Terms

We may update these Terms from time to time. If we make material changes, we will notify you by email or by posting a notice in the App. Your continued use of the App after such notification constitutes acceptance of the updated Terms.

14. Severability

If any provision of these Terms is found to be unenforceable, the remaining provisions shall continue in full force and effect.

15. Contact

For questions about these Terms:

Alexander Gann
Aleora SAS (in process of incorporation)
31 Rue Doudeauville, 75018 Paris, France
alexandergann@gmail.com