Terms and Conditions

Last updated 24 March 2024


Welcome to Multiples, a subscription-based valuation multiples database platform provided by Flow Partners (London) Ltd. ("Multiples", "we", "us", or "our"). These Terms and Conditions ("Terms") govern your access to and use of our products, software, services, and website (collectively, the "Service"). By accessing or using the Service, you agree to be bound by these Terms. If you do not agree to these Terms, you may not access or use the Service.

Supplemental terms and conditions or documents that may be posted on the Service from time to time are hereby expressly incorporated herein by reference. We reserve the right, in our sole discretion, to make changes or modifications to these Terms from time to time. We will alert you about any changes by updating the "Last Updated" date of these Terms, and you waive any right to receive specific notice of each such change. It is your responsibility to periodically review these Terms to stay informed of updates. You will be subject to, and will be deemed to have been made aware of and to have accepted, the changes in any revised Terms by your continued use of the Service after the date such revised Terms are posted.

Using Service

By signing up for the Service and in accordance with this Agreement, Multiples grants you a limited (valid for the duration of this Agreement), non-exclusive, non-transferable right to access and use the Service and Data strictly for your internal business activities. The Data is licensed to you for internal business use only. This does not prevent you from generating analyses based on the Data or utilizing the Data as a basis for your own service offerings.

By executing or agreeing to this Agreement, you affirm your authority to commit yourself to this Agreement.

Unless otherwise specified, each User is required to have their own account to access the Service. Access credentials are provided to individual Users, and the Service cannot be accessed by anyone other than the User for whom Multiples has authorized access (sharing of access is not permitted).

Under the terms of this Agreement, you are not allowed to alter, decode, reverse-engineer, acquire the source code, or transfer, assign, sublicense, or distribute the Service or any of its components.

Changes to the Service

We may, from time to time, modify and/or update the Service or a part thereof. We shall notify you of all such changes. This Agreement will automatically apply to all updates, modifications or amendments to the Service.

There may be information on the Service that contains typographical errors, inaccuracies, or omissions, including descriptions, pricing, availability, and various other information. We reserve the right to correct any errors, inaccuracies, or omissions and to change or update the information on the Service at any time, without prior notice.


We offer a variety of subscription plans, each with its own set of features and restrictions. You can find details about these plans and their pricing on our website. We hold the right to change, cancel, or update our subscription offerings.

By choosing a paid subscription, you agree to pay the subscription fee as listed in Multiples' most recent price list, in return for access to the Service.

You must make payments according to the terms set by Multiples. All fees paid are considered final and non-refundable, unless otherwise explicitly stated.

The prices we quote do not include VAT or any other applicable sales taxes, which will be added to your invoice if necessary.

Your subscription will continue and automatically renew unless canceled. You consent to our charging your payment method on a recurring basis without requiring your prior approval for each recurring charge, until such time as you cancel the applicable order. The length of your billing cycle will depend on the type of subscription plan you choose when you subscribed to the Service.

You can cancel your subscription at any time by logging into your account. Your cancellation will take effect at the end of the current paid term. If you have any questions or are unsatisfied with our Service, please email us at [email protected].

We reserve the right to modify the prices for the Service at any time. Multiples will inform the Customer of any pricing changes in writing at least one (1) month before such changes are implemented. Should the Customer disagree with the new pricing, they have the option to end this Agreement by cancelling before the next billing date. Any price list changes shall not apply to ongoing subscription terms that have already been paid for by the Customer, but they shall be applied to any renewals of such Service subscription terms. If the Customer does not cancel before the next billing date, the changes in pricing will be considered accepted by the Customer.

You agree to provide current, complete, and accurate purchase and account information for all purchases made via the Service. You further agree to promptly update account and payment information, including email address, payment method, and payment card expiration date, so that we can complete your transactions and contact you as needed.

Limitations of Use

Except for the limited rights to download, store and/or print Multiples' content, you may not download, store, reproduce, republish, transmit, display, distribute or take screen shots of any portion of the Applications, Service or any Content. In addition, you may not:

(a) make the Service available to anyone else than the authorized Users;

(b) sell, rent, lease, loan, transfer, sublicense or otherwise make available or permit access to the Service or any Content to any third party;

(c) modify, decompile, disassemble or reverse engineer any portion of the Service;

(d) use or attempt to use any deep-link, scraper, robot, bot, spider, data mining, computer code or any other device, program, tool, algorithm, process or methodology or process having similar functionality, to access, acquire, copy or monitor any portion of the Content or Service;

(e) copy or redistribute Data contained in the Service, except as specifically authorized by the functions made available within the Service;

(f) violate the security of the Service or attempt to gain unauthorized access to the Service, the Content or Multiples' computer systems or networks connected to any server associated with Multiples, through hacking, password mining, social engineering or any other means;

(g) use the Service in a manner that infringes or violates the rights of Multiples or any third party;

(h) use the Service in such a way that you would be deemed to be engaging in the offering or solicitation of investments in securities. We may track, monitor, report, analyze, and limit your Service usage; provided that we will not make such information available to any third party other than in an aggregated, de-identified forma;

(i) use the Service in a manner inconsistent with any applicable laws or regulations.

You agree that we may terminate or suspend your account immediately, if you are found to be in violation of this Section.

You will not use the Data to determine an individual's eligibility for (i) credit or insurance intended primarily for personal, family, or household purposes, or (ii) employment. Moreover, you will refrain from using the Data in any way that could be considered unfair, anti-competitive, or deceptive. You must ensure that your use of the Data fully complies with all applicable laws and regulations, including those related to telemarketing, customer solicitation (including fax and/or email solicitation), data protection, privacy, and anti-corruption.

Exceptions to Limitations of Use

Under the conditions outlined in this Agreement, as an Authorized User, you are granted the right to integrate data derived from the Multiples platform into presentations and reports, exclusively for use within the Subscriber's internal business activities. Specifically, this allows you to share small excerpts of data extracted from the platform with employees, affiliates, clients, and/or prospective clients of the Subscriber, in formats such as charts, graphs, graphics, pitch books, presentations, statistics, research reports, and other types of reports, provided that in every instance:

(a) Multiples retains sole ownership over any Content incorporated therein;

(b) the distributed presentations, reports, etc., are not issued on behalf of any unaffiliated third party;

(c) the following source attribution is included: "Source: Multiples (multiples.finance)".


The ownership and all intellectual property rights in the Service and the Data remain exclusively with Multiples and/or applicable third parties. By using the Service and Data, you are given a license and do not gain any ownership rights in either the Service or Data. This Agreement does not result in the transfer of IP rights from Multiples or any third party to you. Multiples, or its licensors, maintain all rights not specifically granted to you.

Furthermore, this Agreement does not grant you any intellectual property rights, including but not limited to patents, copyrights, rights in databases, trade secrets, business names, trademarks (whether they are registered or not), or any other rights or licenses related to the Service, any software that is part of the Service, or any accompanying documentation.

Processing of Personal Data

Regarding any personal data that might be contained within the Data, it is recognized and agreed by both parties that each will act as an independent data controller in the management of such personal data.

You are responsible for implementing suitable technical (including encryption) and organizational measures to protect against unauthorized or illegal processing of, as well as against accidental loss, destruction, or damage of personal data (including sufficient backup and disaster recovery systems) contained in the Data.

You will not transfer any personal data from the Data to countries outside of the EEA without adopting an appropriate EU transfer mechanism as required by the GDPR, whether for controller to controller or controller to processor transfers.

You will take necessary steps to ensure the trustworthiness of any employees who have access to personal data, including providing them with relevant data protection training. Access to such personal data (even in test environments) should be limited to those employees who need it for business reasons.

You will promptly inform Multiples if you receive any inquiries or complaints from local data protection authorities or data subjects regarding personal data within the Data. You will work together with Multiples to quickly investigate and respond to such inquiries or complaints.

Should you become aware of any loss, compromise, or damage to any personal data within the Data, you must: (a) quickly inform Multiples about the incident's details; (b) immediately start a thorough investigation into the incident and share any reports or notes of the investigation with us; and (c) offer reasonable cooperation and assistance as requested by Multiples to investigate the incident.

Contribution License

You and the Service agree that we may access, store, process, and use any information and personal data that you provide following the terms of the Privacy Policy and your choices. By submitting suggestions or other feedback regarding the Service, you agree that we can use and share such feedback for any purpose without compensation to you. We do not assert any ownership over your Contributions. You retain full ownership of all of your Contributions and any intellectual property rights or other proprietary rights associated with your Contributions. We are not liable for any statements or representations in your Contributions provided by you in any area on the Service. You are solely responsible for your Contributions to the Service and you expressly agree to exonerate us from any and all responsibility and to refrain from any legal action against us regarding your Contributions.

No Advice and No Offer

All content on the Service is provided for general information only. Nothing stored on this Service is to be relied upon in making an investment or other decision constitutes investment nor it is a financial, investment, legal or tax advice. You should obtain relevant professional advice and check the accuracy of all necessary information before making any investment decision. Decisions based on information contained on the Service are the sole responsibility of the user.

Nothing contained in this Service constitutes an offer under any applicable law or legislation or an offer to sell or a solicitation or offer to buy any securities or financial instruments or provide any investment advice or services. Nor shall the Service, nor any part of it, form the basis of, or be relied on in connection with, any contract or commitment whatsoever.

Third Party Website and Content

The Service may contain (or you may be sent via the Service) links to third-party-websites and third-party-content. Such websites are not investigated, monitored, or checked for accuracy, appropriateness, or completeness by us, and we are not responsible for any third-party-websites accessed through the Service or any third-party-content posted on, available through the Service, including the content, accuracy, offensiveness, opinions, reliability, privacy practices, or other policies. You should review the applicable terms and policies, including privacy and data gathering practices, of any website to which you navigate from the Service or relating to any applications you use or install from the Service.

Term and Termination


If we terminate or suspend your account for any reason, you are prohibited from registering and creating a new account under your name, a fake or borrowed name, or the name of any third party, even if you may be acting on behalf of the third party. In addition to terminating or suspending your account, we reserve the right to take appropriate legal action, including without limitation pursuing civil, criminal, and injunctive redress.


You agree to defend, indemnify, and hold us harmless, including our subsidiaries, affiliates, and all of our respective officers, agents, partners, and employees, from and against any loss, damage, liability, claim, or demand, including reasonable attorneys’ fees and expenses, made by any third party due to or arising out of: (1) use of the Service; (2) breach of these Terms; (3) any breach of your representations and warranties set forth in these Terms; (4) your violation of the rights of a third party, including but not limited to intellectual property rights; or (5) any overt harmful act toward any other user of the Service with whom you connected via the Service. Notwithstanding the foregoing, we reserve the right, at your expense, to assume the exclusive defense and control of any matter for which you are required to indemnify us, and you agree to cooperate, at your expense, with our defense of such claims. We will use reasonable efforts to notify you of any such claim, action, or proceeding which is subject to this indemnification upon becoming aware of it.


These Terms and any policies or operating rules posted by us on the Service or in respect to the Service constitute the entire agreement and understanding between you and us. Our failure to exercise or enforce any right or provision of these Terms shall not operate as a waiver of such right or provision. These Terms operate to the fullest extent permissible by law. We may assign any or all of our rights and obligations to others at any time. We shall not be responsible or liable for any loss, damage, delay, or failure to act caused by any cause beyond our reasonable control. If any provision or part of a provision of these Terms is determined to be unlawful, void, or unenforceable, that provision or part of the provision is deemed severable from these Terms and does not affect the validity and enforceability of any remaining provisions. There is no joint venture, partnership, employment or agency relationship created between you and us as a result of these Terms or use of the Service. You agree that these Terms will not be construed against us by virtue of having drafted them. You hereby waive any and all defenses you may have based on the electronic form of these Terms and the lack of signing by the parties hereto to execute these Terms.

Governing Law and Dispute Resolution

The interpretation and enforcement of this Agreement, along with the rights and duties of the involved parties, will be governed by the laws of England, excluding its conflict of law rules.

In the event of any disagreement, conflict, or claim resulting from or in connection with this Agreement, including issues regarding its breach, termination, or invalidity, the parties will first seek to resolve the matter through direct negotiation. Should these attempts fail, the issue will be resolved in the district court of England.