More troubles for the Ndichu twins after their investors pull out in light of assault allegations.
In the wake of the controversy surrounding Eddie and Paul Ndichu, Kepple Africa Ventures have announced that they have cut ties and funding with the brothers’ company, Wapi Pay.
“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,” reads a statement on the venture capitalist’s official Twitter account.
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.
— 神先孝裕@ケップル (@kanzaki_kepple) October 18, 2021
Shortly after Kepple issued their statement, the brothers, via their Wapi Pay company, retaliated with a statement that has now elicited even more backlash against them.
Attempting to distance themselves from the allegations surrounding them. “We found the story distasteful and troubling and want to firmly state that any type of behavior involving violence against women does not reflect our values nor does it reflect those of Eddie and Paul,” they issued.
They further went on to claim that, contrary to common belief since the footage surfaced, they were trying to neutralise an altercation and defend themselves from aggressors and were not the aggressors, something a lot of Kenyans have angrily reacted to. Among the celebrities who have spoken out since the release of the statement include, singer Wahu.
Wapi Pay is a Kenyan-based Fintech company with offices in Nairobi, Singapore and Tianjin. Per the press statement, Fintech ”delivers global financial services infrastructure and products through its technology to offer its partners, customers, merchants and businesses convenience.