I instantly did the in-app so I have no ads anymore but I get what you are saying and why you don't want to.
I'm also normally not into apps that have a free version with either ads or in-app but at the time I couldn't find a good alternative that had all the features and with the in-app for the removal of the ads I thought it was the best option because apps like MiniKeePass were/are? incomplete in features (lacks URL scheme, syncing with e.g. Dropbox).
It has the most features I think although I can check again on KyPass 3 and 4 how that is now.
I just bought the Kypass 4 application which is not cheap but looking into the support 2/3 had for years I guess the 5.50 euro (once) is a really smart investment. UI wise it's not as nice as KeePass Touch though but feature wise it's similar and it also has a nice Action extension which KeepPass Touch doesn't have. Also good to see Kypass 4 has an URL scheme as well. I just added it to the Launcher database.
At least the dev seems to be responsive. Over on his website he does answer posted questions. How is the theming of the application?