Investor Withdraws Stake in Ndichu Brothers’ Startup Wapi Pay

Paul and Eddie Ndichu
Twins Paul and Eddie Ndichu.

An investor who contributed to the $2.2 million (Sh240 million) pre-seed funding for twin brothers Paul and Eddie Ndichu’s fintech startup has condemned their conduct, effectively withdrawing their support. Nigeria-based Kepple Africa Ventures issued a statement on Twitter, announcing the withdrawal of their investment stake in Wapi Pay.

Kepple Co-founder Takahiro Kanzaki and General Partner Satoshi Shinada both put out a statement on Twitter condemning the unbecoming conduct of the two brothers.

“In light of the alleged assault on women by the founders of our portfolio company Wapi Pay, we Kepple Africa Ventures hereby announce that we have zero tolerance on such conduct amd announce that we will relinquish all the rights of our investment stake in Wapi Pay.” the Tweet read.

A similar statement was also put on the company’s official website.

Investor- Wapi Pay

Read: Paul, Eddie Ndichu Accused of Assaulting Women who Turned Down their Sexual Advances

Eddie and his twin brother Paul Ndichu have been accused of assaulting two women at a high-end Nairobi restaurant for turning down their sexual advances.

A report by activist Boniface Mwangi on Twitter reveals the incident happened over the weekend.

“Yesterday my sister and I were attacked by the Ndichu twins for respectfully turning them down. They threatened to shoot us and ruin our lives. My sister was strangled by Paul Ndichu while her boyfriend who had come to her rescue was being strangled by Eddie,” read a report by one of the victims.

Read: Kenyan Fintech Asilimia Among 14 firms Selected for Catapult: Inclusion Africa 2021 Bootcamp

A video doing rounds on social media showed the altercation at Nairobi’s Ole Sereni hotel.

Paul and Eddie founded Wapi Pay in 2019. The startup has offices in Kenya, Singapore and China. It global payments and financial company delivers platform to platform integrations, global accounts and virtual wallets.

The company raised $2,2 million in pre-seed funding to scale up global payments and remittances between Africa and Asia. The investors include EchoVC, China-based global fund MSA Capital, Kepple Africa ventures and other angel investors.

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Written by Vanessa Murrey

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