The Ndichu brothers have been trending over the last few days after allegations of assault were tabled against them with video footage to support the same surfacing online, now, Kenya’s Wapi pay has lost their biggest investors Kepple Africa.
The firm announced that it will be renouncing its investment stake from Wapi Pay via a post on Twitter and LinkedIn by General Partners Satoshi Shinada and Takahiro Kanzaki.
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 and announce that we will relinquish all the rights of our investment stake in Wapi Pay.
— Satoshi Shinada (@KeppleNigeria1) October 18, 2021
Wapi Pay, a firm based in Singapore and headquartered in Kenya loses the investor following the accusation of co-founders, Paul and Eddi Ndichu of assaulting women in Nairobi’s Emara Ole Sereni Hotel.
Wapi Pay has since issued a statement saying: “Our understanding is that the allegations and video currently being shared on social media, albeit horrific and regrettable, do not depict the true events that transpired that night. To be clear, Paul and Eddie got involved in an attempt to neutralize a confrontation between two women and to defend themselves from certain aggressors.”
Wapi Pay had recently raised $2.2 million (Sh237.6 million) in pre-seed funding to scale up global payments and remittances between Africa and Asia.