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Wise suspends account of shooting vest startup

Lars-Thorben Niggehoff | 04.01.2023

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

Bulletproof Ukraine supplies Ukrainian civilians with protective vests. But now 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 announced. Bulletproof Ukraine makes bulletproof vests for Ukrainian journalists, medics and volunteers.

Because of this, Wise now classifies the startup as a weapons manufacturer, which is why the company is in violation of the British financial firm's terms and conditions. Speaking to Gründerszene Katter pointed out that Bulletproof Ukraine does not supply the military and conducts extensive background checks on all interested parties. So far, the company has sold around 600 vests.

Bulletproof Ukraine is now unable to pay its outstanding invoices for the time being. However, the company wanted to stop 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 threatening to fail.

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