Kunal Shah to Lead WhatsApp Globally as Meta Backs CRED with ₹8,550 Crore

In a major development for India's startup ecosystem, technology giant Meta has announced an investment of ₹8,550 crore (approximately USD 900 million) in fintech firm CRED , while also appointing the company's founder Kunal Shah as the new global head of WhatsApp .

The investment, made as part of CRED's Series H funding round , values the Bengaluru-based fintech company at ₹43,239 crore (around USD 4.5 billion) . Meta will join CRED's cap table as a minority investor through a combination of primary and secondary share purchases. The companies clarified that Meta will not receive access to CRED's customer data as part of the deal.

Alongside the investment announcement, Meta revealed that Shah will leave his operational role as Chief Executive Officer of CRED to join the social media giant's leadership team. He will succeed Will Cathcart , who is stepping down after leading WhatsApp for seven years and will transition to a new product-focused role within Meta.

Meta CEO Mark Zuckerberg praised Shah's entrepreneurial track record, describing him as a builder with a strong global perspective. Zuckerberg said Shah's experience in scaling CRED would be valuable in guiding the future growth of WhatsApp, the world's largest messaging platform.

Accepting the role, Shah said WhatsApp still has significant untapped potential despite its global reach. He expressed enthusiasm about working with Meta's leadership to expand the platform's impact for both users and businesses worldwide.

Following Shah's departure from day-to-day operations, Miten Sampat , who has led strategy and finance at CRED since 2020, has been appointed interim CEO. The company said its board is evaluating a long-term leadership structure as it moves toward an eventual initial public offering (IPO).

Founded in 2018, CRED serves around 1.7 crore monthly active users and processes more than 40 per cent of India's credit card bill payments . The company recently reported improved financial performance, with operating losses narrowing significantly and revenue rising during FY25.

The twin announcements underscore Meta's growing confidence in India's technology ecosystem while elevating one of the country's most prominent startup founders to a key global leadership role.