Meta Invests $900 Million in CRED, Names Kunal Shah as WhatsApp Chief

Meta Platforms has announced a $900 million investment in Indian fintech company CRED, valuing the Bengaluru-based startup at $4.5 billion. As part of the deal, CRED founder Kunal Shah will take over as the global head of WhatsApp, while current chief Will Cathcart moves to a new role within Meta. The move highlights Meta’s growing focus on India, its largest WhatsApp market with more than 500 million users.

The investment gives Meta a minority stake in CRED but does not provide access to customer data, according to the company. Founded in 2018, CRED offers a members-only platform for consumers with strong credit profiles and has expanded into payments, lending, insurance, wealth management, and lifestyle services. The company says it serves 17 million monthly users and processes over 40% of India’s credit card bill payments.

CRED plans to use the fresh funding to accelerate growth, strengthen leadership, and expand its product offerings. The deal marks one of the largest investments in India’s fintech sector in recent years and reinforces Meta’s broader strategy of deepening its presence in the country, following major investments such as Jio Platforms. Meanwhile, CRED’s strategy and finance head, Miten Sampat, has been appointed interim CEO.