Wapi Pay co-founders deny violence allegations as investor pulls out .


Eddie Ndichu and his brother Paul Ndichu were caught on camera reportedly assaulting women at  the Ole Sereni Hotel.

Wapi Pay, a Kenyan startup that recently raised Ksh. 240 million in pre-seed funding to scale up global payments and remittances between Africa and Asia, was founded by the two brothers.

Founded in 2019,Wapi Pay is a Singapore-based Kenyan fintech with offices in Nairobi, Singapore, and Tianjin, China, that uses technology to provide platform-to-platform integrations, global accounts, and virtual accounts (wallets) to its partners and customers, making global payments and financial products more convenient for individuals, merchants, and businesses.

Kenyan Fintech startup Wapi Pay has weighed in on the charges. The company claims in a statement that the video circulating on social media does not accurately portray the events of October 16.

“We found the story distasteful and troubling and want to firmly state that any type of behaviour involving violence against women does not reflect our values nor does it reflect those of Eddie and Paul.” the statement read.

“Our understanding is that the allegations and video currently being shared on social media, albeit horrific and regreattable, 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.” the statement says.

The founders of the startup have also expressed apologies over the situation.

“Wapi Pay co-founders Paul and Eddie, want to use this medium to express their deepest regrets for the incident that occured. We appreciate your patience as we work through the proper resolution of the incident and continue to uphold our values while remaining committed to serving our customers.”

Kepple Africa Ventures, which contributed $2.2 million (Sh240 million) in pre-seed funding to twin brothers Paul and Eddie Ndichu’s fintech startup, has condemned their conduct and effectively pulled their support.

In a statement shared by general partner Satoshi Shinada, the company has zero tolerance for gender-based violence (GBV).

“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”