The CEO and co-founder of the high-tech giant Wiz, Asaf Rapaportannounced today (Monday) that the Israeli cyber unicorn is raising 300 million dollars, but the money will not enter Israel: “We share in the grief of the families who lost their loved ones in the last day and are concerned about the rapid security deterioration on both sides. Unfortunately, in light of the coup d’état, the money we raised will not enter Israel. Our biggest concern regarding Israeli high-tech is not only the money leaving Israel, but also the large amount of money that will no longer enter the country.”
Rapaport continued and expressed his concern: “I hear voices from all sides of worried investors, of entrepreneurs who are secretly taking money out of the country, and of employees who fear for their future in Israel. The Wiz company has been successful until today thanks to an amazing ecosystem that exists in Israel, but it is currently facing existential danger. I I believe and hope that the voices of pain rising from all parts of the people will bring the government to focus on the security events, stop the legislative moves and strive for a real compromise that is acceptable to all parties.”
Assaf Rappaport (Photo: Omer HaCohen)
As you may recall, at the beginning of this month, the Wiz company announced that it would move some of the company’s business accounts outside of Israel, following the fear of the legal revolution. The company will leave funds in Israel to manage its current affairs such as employee wages, social security and various expenses. Wiz is not the only one that takes its money out of Israel, but also the high-tech unicorn Papaya Global. The CEO and co-founder of the company, Einat Gazsaid about a month ago that: “In the reform that is taking shape, there is no certainty that we can conduct international economic activity from Israel, this is a painful but necessary business step.”