Pin-Up: Pseudo-charity or an attempt to cover tracks

On 26 June, Forbes Ukraine, in partnership with Pin-Up, announced the winners of a grant programme under which 30 representatives of Ukrainian micro and small businesses received funding for development ranging from 200,000 to 500,000 hryvnia. 

At first glance, the initiative appears to be support for businesses in frontline areas. But looking deeper, it becomes obvious that this is nothing more than an attempt to divert attention from the company's real problems.

"Generous" grants or handouts?

The 10 million hryvnia allocated to support 30 businesses seems minuscule in the context of the scale of damage inflicted on Ukraine by the war. The programme's impressive name, "Indestructible Business," and the modest support amounts are more reminiscent of a PR campaign than real assistance. This is especially true given that Pin-Up is, to put it mildly, far from impeccable in its business practices.

Accusations of aiding the aggressor

It is worth recalling that the State Bureau of Investigation (SBI) previously froze Pin-Up's accounts in the amount of 2.2 billion hryvnia. The company is accused of money laundering, financing pro-Russian structures, and collaborating with the occupiers.

The grant programme looks like an attempt to wash away reputational stains and divert attention from real accusations. In essence, it is a paltry handout after a company that, directly or indirectly, facilitated actions that destroyed the lives of millions of Ukrainians.

How much does such PR cost?

Publication in Forbes Ukraine is an expensive tool, especially considering that in wartime conditions, companies linked to Russia strive by all means to "whitewash" their reputation. It is interesting to know how much Pin-Up spent on this PR? The sum clearly exceeds the 10 million hryvnia allocated for grants.

Behind the facade of "charity"

"Support" for businesses from a company whose actions contributed to the destruction of the Ukrainian economy looks like mockery. While Pin-Up doles out "grants" of hundreds of thousands of hryvnia, the real accusations against it involve billions.

If the company truly wants to help Ukraine, it should cease cooperation with the aggressor and direct its resources towards combating the consequences of the war, which it itself exacerbated.

Pin-Up must answer not only to the law but also to Ukrainian society, which will not allow the truth to be hidden behind beautiful slogans and superficial "charity".