How Janet Mbugua's husband Eddie landed Sh240 million deal with Chinese investors

Eddie Ndichu who is the CEO of Wapi Pay explained how the money will be used.

Janet Mbugua and husband Eddie Ndichu

On Monday, October 18, Kenyans woke up to claims that Eddie Ndichu and Paul Ndichu were involved in an altercation with female clients at the Ole Sereni Hotel in Nairobi over the weekend.

It has now emerged that the two brothers who are entrepreneurs in financial technology recently landed over Sh200 million in seed capital to expand their start-up, Wapi Pay.

Eddie serves as the CEO and his brother is listed as a co-founder on the website.

Wapi Pay provides a payments gateway for African businesses to receive and send money from Asia via mobile money platforms and bank accounts.

According to an international tech outlet Tech Crunch, the twin brothers intend to use the investments to engage regulators for licensing across Africa and for scale, product and geographical expansion.

These funds will help Wapi Pay diversify our products range and drive growth so that we can evolve remittances into real-time global cross-border payments, starting with Africa and Asia. All while minimising the cost of transactions, it needs to be as easy as sending M-PESA,” Eddie who is married to media personality Janet Mbugua said.

China-based fund MSA Capital made the $2.2 million (Sh243,980,000) pre-seed funding to the startup that aims to process Sh55 billion in remittances between Asia and Africa by the end of next year.

Eddie and Paul Ndichu’s controversy at Ole Sereni

The duo was accused of attacking clients at Ole Sereni Hotel in Nairobi over the weekend.

The news was first reported on Monday, October 18 by activist Boniface Mwangi and blogger Edgar Obare who shared footage showing the altercation.

Eddie and Paul who are twins have been put at the centre of the fight that also involved two other ladies.

One of the assailants in a white t-shirt can be seen vandalising a Volkswagen in the hotel before joining a scuffle between two ladies and a man in a black t-shirt.

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,” read a DM sent to both Boniface and Edgar.

Pulse Live could not confirm the identity of the two assailants in the video nor the victims.

Neither Paul who was married to Grace Msalame nor Eddie who is Janet Mbugua’s husband have spoken on this matter.

There are also reports that Janet silently separated from Eddie some time back though no confirmation has been made.

Many Kenyans on social have expressed disgust in the incident.

Investment on the line?

Following the scandal, many Kenyans have said that the accusations may not mean well for the brothers’ startup.

Many Kenyans on social media want the investors to pull out following the claims that the two co-founders have broken the law.

However, a section of netizens has defended that the firm is a separate legal entity from its managers.

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