Meta invests $900m in Indian fintech Cred, appoints its founder as new WhatsApp chief

Meta Platforms has announced it is investing $900 million in Cred, a popular Indian fintech startup.

As part of the deal, Cred’s founder, Kunal Shah, will become the new global head of WhatsApp.

The investment gives Meta about a 20 percent stake in Cred. This values the company at $4.5 billion after the money comes in. Cred runs an app that rewards users for paying their credit card bills on time. It has grown into one of India’s leading fintech companies by making bill payments easier and more rewarding.

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Will Cathcart, who has led WhatsApp for seven years, is stepping down. Under his leadership, WhatsApp has grown to more than three billion users worldwide while strongly supporting privacy features. Cathcart will stay at Meta and work on building new products from scratch.

“Will has been an outstanding leader for WhatsApp. He scaled the app to over 3 billion users while keeping privacy at the core. I’m grateful for everything he’s done and excited for the new products he will build at Meta,” Mark Zuckerberg, the CEO of Meta Platforms, Inc stated.

Kunal Shah is known as a strong builder and entrepreneur in India’s tech scene. He turned Cred into a major player in a crowded fintech market.

His experience with millions of Indian users could help WhatsApp grow even more in key markets like India, where it is already very popular. Bringing in a founder with a builder mentality and global view shows Meta wants fresh ideas to keep WhatsApp as the world’s top messaging app for both people and businesses.

Speaking on Kunal Shah’s appointment, Zuckerberg stated, “Kunal built CRED into one of India’s most important technology companies. He brings the builder mentality and global perspective that will serve him well in running the world’s biggest messaging app.”

This deal mixes investment with leadership. Meta gets a stake in a fast-growing Indian company while bringing proven talent into its top ranks.

For Cred, the cash and Meta connection could open new doors, even as Shah steps away from day-to-day operations there. An interim CEO will take over at Cred.The move comes as Meta faces big opportunities and challenges.

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WhatsApp continues to expand payments and business tools, especially in emerging markets. Tapping an Indian leader highlights how important India and similar regions are for future growth. It also shows Meta’s willingness to bring outside founders into key roles to drive innovation.

This story is developing, and more details about Shah’s plans for WhatsApp are expected soon.

The partnership between Meta and Cred could create interesting new possibilities for users in India and beyond.