Meta Invests $900 Million In CRED, Names Kunal Shah To Lead WhatsApp

Meta Platforms will invest $900 million in Indian fintech firm CRED, valuing the Bengaluru-based company at $4.5 billion, while CRED founder Kunal Shah has been appointed to head WhatsApp globally, the companies announced on Monday.

Invest in Indian Markets and Unlock Future Potential With 5paisa!

Open Account Now

The investment gives Meta a minority stake in CRED and marks one of the largest transactions in India’s fintech sector in recent years. CRED said the agreement does not provide Meta with access to customer data. The latest valuation is above the company’s $3.5 billion valuation in its 2025 funding round, though below its peak valuation of $6.4 billion recorded in 2022.

The leadership transition at WhatsApp comes as the messaging platform expands its focus beyond communication services into digital payments and business offerings. Meta Chief Executive Officer Mark Zuckerberg said in a Facebook post that Will Cathcart, who has led WhatsApp for seven years, will move to a different role within the company. Shah separately confirmed his appointment.

Investment Strengthens Meta’s India Presence

India remains WhatsApp’s biggest market, with more than 500 million users. The latest deal adds to Meta’s investments in the country, where it has previously backed Jio Platforms, the digital arm of Reliance Industries, which recently filed draft papers for an initial public offering.

Founded in 2018, CRED caters to consumers with strong credit profiles and offers services across payments, lending, insurance, wealth management and lifestyle categories. The company said it serves 17 million members every month.

According to the company, its platform handles over 40% of India’s credit card bill payments and manages lending assets exceeding ₹20,600 crore on behalf of partner financial institutions.

Fresh Capital To Support Expansion

CRED said the new funding will be used to support business growth, strengthen leadership capabilities and expand products across categories. Miten Sampat, who has overseen strategy and finance functions since 2020, has been named interim chief executive officer.

The latest capital infusion comes at a time when investor interest in India’s financial technology sector has been improving after a period of moderation in startup valuations. The transaction also underlines the growing importance of India in Meta’s long-term strategy, particularly as digital payments and financial services gain wider adoption among consumers.

The changes in investment and leadership are expected to allow each company to grow their presence beyond their traditional lines of business, while maintaining separate operating structures.