Investor Pulls Out Of Wapi Pay After The Ndichus Were Caught On Camera Assaulting Women

“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,” said the investor in Wapi Pay.

On Monday, Eddie Ndichu and Paul Ndichu went viral on social media in a video where they allegedly assaulted a woman on Saturday Night (16th October) at the Ole Sereni Hotel. The brothers have issued a statement, as typical Kenyans, denying the allegations.

The woman in the video and her friend are said to have rejected sexual advances from the two.

Wapi Pay recently raised $2.2 million in pre-seed funding. Investors for that round included EchoVC, China-based global fund MSA Capital and Kepple Africa Ventures.

The company runs its operations in China, Singapore, Indonesia, Japan, Thailand, Philippines, Malaysia, India, Taiwan, and Vietnam. It also works with local banks and platforms in the said countries.

Kepple Africa in 2020 invested in 36 African startups, making it one of the most active firms on the continent in terms of the numbers of startups it has backed. And according to a Disrupt Africa Report, in the first 7 months of 2021, the firm has made 22 more investments.