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Wapi Pay Founders step down to pave way for investigation

  • October 21, 2021
  • 3 min read
Wapi Pay Founders step down to pave way for investigation

Founded in 2019 by brothers Paul Ndichu and Eddie Ndichu, Wapi Pay provides a payments gateway for African businesses to receive and send money from Asia via mobile money platforms and bank accounts. Sad for the brothers though as the gateway seems to have an indescent wave of news after the Brothers recently founded themesleves in a dangerous territory.

A recent surfaced video of  the Ndichu twins allegedly attacked two sisters for allegedly refusing to hang out with them.

In a separate statement, Wapi Pay founders said they regret the incident; however, the facts were misinterpreted as they were only stepped in to help the feuding ladies.

“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,” the statement read.

Keeple Africa is among several other investors which, two months ago, injected USD 2.2 million in pre-seed funding into the Singaporean and Kenyan-based firm that seeks to scale up global payments and remittances between Africa and Asia.

 

Kepple Ventures

Having Recently Received a Funding from Kepple Ventures  amongst others, it now seems like sun wants to set down early after the Investor Dropped. In a Statement Kepple Investors Stated  : 

In a statement on Tuesday, the board said the company’s CEO role will be taken up by Chief Operating Officer Elizabeth Kariuki on an interim capacity.

“The Board commits to conclude this matter within the next 30 working days,” read the statement. The Board of the Association of Fintechs in Kenya, stated that it had taken note of the unfortunate allegations made against Eddie, adding that they were now subject to public discourse, particularly on social media platforms.

“On the 19th of October the Board convened a special meeting during which Mr. Ndichu stepped down as a board member pending formal investigations into the matter,” the statement read.

“The Board takes this opportunity to state that it regrets the current circumstances and does not in any way condone gender-based violence or violence of any kind,” the statement further read.

 

Now, the question is if Wapi Pay can survive without its ties to Kepple Africa Ventures and other early backers who are yet to speak out following the assault allegations.

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Incuabte Africa

Incubate Africa, founded on June 5, 2016, is a Tech company based and Founded in Africa with the main focus of showcasing African-developed technology to the rest of the world. We strongly believe in what Africa has to offer the world. #Revolutionizing the startup culture

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