Startups & IdeasNews

Wapi Pay issues statement as Kepple Africa relinquishes its investments in the Startup

Wapi Pay, a Kenyan startup based in Singapore which provides global payments solutions to both merchants, businesses and individuals, has issued a statement in the light of the company’s co-founders, Eddie Ndichu and Paul Ndichu, allegedly being caught on video assaulting a woman on Saturday Night (16th October) at the Ole Sereni Hotel.

The statement comes just after Kepple Africa Ventures – a Japanese VC Firm – announced it will be revoking its investment in Wapi Pay. In a tweet, Takahiro Kamisaki, General Partner, Kepple Africa Ventures says:

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.

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

Kepple Africa in 2020 invested in 36 African startups, making it one of the most active firms on the continent in terms of 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.


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