Indian Fintech Firm CRED to Raise $900 Million From Meta at $4.5 Billion Valuation
- Meta Platforms Inc. invested $900 million in Indian fintech startup Cred, valuing the company at $4.5 billion and securing a 20% stake. Founder Kunal Shah will transition to lead WhatsApp.
- The move follows Meta's strategy of pairing major investments with leadership hires, similar to its recruitment of Scale AI founder Alexandr Wang. India remains a key market for Meta, which previously invested $5.7 billion in Jio Platforms.
- Cred processes over 40% of credit card bill payments in India, reaching 17 million members monthly with a lending business grown to $2.5B in managed AUM. The platform operates across payments, lending, insurance, and wealth products.
- Miten Sampat, who has driven strategy and finance since 2020, assumes interim CEO role at Cred. Shah relocates to California to lead WhatsApp, succeeding Will Cathcart, who transitions to an AI-focused role at Meta.
- WhatsApp surpassed 3 billion monthly users in 2025 and is expanding into advertising, subscriptions, and AI-powered services. Meta CEO Mark Zuckerberg praised Cathcart for his contributions to the platform's growth.
58 Articles
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Meta is investing $900 million in the Indian startup Cred. And with this, it will appoint the company's founder, Kunal Shah, as the new boss of WhatsApp. The investment gives Meta a stake of about 20% in Cred, which operates an application that rewards customers for paying their credit card bills in the day. The company is now valued at $4.5 billion after the investment round, according to a statement. Instagram Map: Meta is the target of inquir…
Kunal Shah steps down as CRED CEO to lead WhatsApp
New Delhi: Fintech platform CRED on Monday, June 22, said it will raise Rs 8,550 crore in a funding round led by Meta, a mega deal that will see its founder, Kunal Shah, step down as Chief Executive Officer and lead the global tech giant’s messaging platform WhatsApp. Shah will transition to the global leadership team at Meta but will retain his personal shareholding in CRED, the Bengaluru-headquartered company said in a statement. Taking to soc…
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