Ndichu Twins Lose Part of Ksh240 Million Startup Investment Capital After Publicized Altercation

October 19, 2021

Ndichu TwinsIt may turn out to be a very expensive fight for the Ndichu twins.

On Monday, news broke that Janet Mbugua’s ex-husband Eddie Ndichu, and his twin brother Paul Ndichu were involved in an altercation with other parties at a top city hotel.

Boniface Mwangi was first to break the story, posting what one of the alleged victims had messaged him.

“Yesterday my sister and I were attacked by the Ndichu twins for respectfully turning them down. They threatened to shoot us and ruin our lives. My sister was strangled by Paul Ndichu while her boyfriend who had come to her rescue was being strangled by Eddie.”

There was even a video to support the allegations, with one of the twins clearly seen hitting someone repeatedly.

The fight could pass as any other drunkard fight, but the twin brothers are quite high profile, and are seeking to build a cross-border payment company with foreign investor money. Therefore, the way they carry themselves in public is very important.

Paul and Eddie are the founders of ‘Wapi Pay’, a service intended to make payments between Africa and Asia easy. Just two months ago in August, the startup raised $2.2 million (Ksh244 million) pre-seed capital, as they seek to scale up global payments and remittances between the two continents.

At least 5 venture capital firms took part in this round of investment, but now trouble beckons.

One of the firms, by the name Kepple Africa, has announced that they are pulling their investment in light of the events of Saturday night.

Satoshi Shinada, a General Partner at the firm made the announcement on Monday, saying that they will relinquish all rights to their investment stake.

‘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.”

If more investors pull out, this may spell disaster for the the Ndichus’ and their startup.

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