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Wise suspends account of shooting vest startup

Bulletproof Ukraine supplies Ukrainian civilians with protective vests. Now, however, the British financial services provider is blocking the company's account.

Lars-Thorben Niggehoff · Stuttgart, 04. January 2023

Wise suspends account of shooting vest startup — (Foto: Jorono/Pixabay)

Bulletproof Ukraine supplies Ukrainian civilians with protective vests. Now, however, the British financial services provider is blocking the company's account.

The financial services provider Wise has apparently blocked the account of the start-up Bulletproof Ukraine. This was announced by founder Madina Katter in a LinkedIn-post. Bulletproof Ukraine manufactures bulletproof vests for Ukrainian journalists, paramedics and volunteers.

Wise therefore now classifies the start-up as a weapons manufacturer, which is why the company is in breach of the British financial firm's terms and conditions. Towards Gründerszene Katter pointed out that Bulletproof Ukraine does not supply the military and carries out extensive background checks on all interested parties. So far, around 600 vests have been sold.

Bulletproof Ukraine is now initially unable to pay its outstanding invoices. However, the company wanted to discontinue its activities soon anyway, as the demand for bulletproof vests in Ukraine is now better covered than it was a year ago. However, the delivery of the last vests is now in danger of failing.

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