Kunal Shah becomes WhatsApp head, Meta invests $900M in CRED
22 Jun 2026

Meta Platforms has invested $900 million (approximately ₹8,550 crore) in Indian fintech start-up CRED during its Series H funding round.

The investment gives CRED a post-money valuation of ₹43,239 crore (around $4.5 billion).

The deal will see Meta take an estimated 20% minority stake in the company through a combination of primary and secondary share purchases.

Along with the investment, Meta has also appointed CRED founder Kunal Shah as the new head of WhatsApp.

What Shah will do at WhatsApp
Leadership transition

Shah will take over from Will Cathcart, who has led the messaging platform for seven years.

Cathcart will now focus on artificial intelligence initiatives at Meta.

As part of his new role, Shah will lead WhatsApp's next phase of growth, focusing on expanding revenue streams through advertising and subscription products while integrating AI agents across the platform.

Interim CEO appointed amid preparations for IPO
Management shift

With Shah's transition to Meta, Miten Sampat, who has been overseeing strategy and finance at CRED since 2020, has been appointed as the interim Chief Executive Officer.

The company is now working on a long-term management structure as it prepares for an eventual initial public offering (IPO).

Founded in 2018, CRED serves creditworthy consumers across payments, lending, insurance, wealth management, and lifestyle services.

CRED's growth and financial performance
Business expansion

CRED has grown to 1.7 crore monthly active members and handles over 40% of India's credit card bill payments.

The company's lending business has ₹24,000 crore in assets under management for partner financial institutions.

CRED reported annual revenue of around ₹3,200 crore and has achieved profitability while building a full-stack financial services platform.

The new capital from Meta will be used to accelerate growth, strengthen leadership across business verticals, and expand its presence in financial services categories.