Meta to invest $900 million in Cred, names Founder Kunal Shah as WhatsApp chief
Under the deal, Meta will acquire about a 20 per cent minority stake in CRED
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Published: Jun 22, 2026 7:14 PM | 2 min read
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- Meta Platforms has invested approximately USD 900 million in fintech startup CRED, acquiring a 20% minority stake and valuing the company at around Rs 43,239 crore (USD 4.5 billion).
- Kunal Shah, the founder of CRED, has been appointed as the new global head of WhatsApp, while Miten Sampat has taken over as interim CEO of CRED.
- The investment consists of both primary capital and secondary share purchases, but Meta will not have access to CRED's customer data.
- CRED is preparing for a potential initial public offering and is working on establishing a long-term management structure.
Meta Platforms has invested about USD 900 million in fintech startup CRED as part of a funding round that also sees CRED founder Kunal Shah appointed as the new global head of WhatsApp, according to company statements and reports.
Under the deal, Meta will acquire about a 20 per cent minority stake in CRED, valuing the company at a post-money valuation of roughly Rs 43,239 crore (USD 4.5 billion). The funding includes a mix of primary capital and secondary share purchases. Meta said it will not receive access to CRED’s customer data despite becoming a strategic investor.
“Kunal Shah will join Meta as WhatsApp’s next leader. Kunal built CRED into one of India's most important technology companies, and he brings the kind of builder mentality and global perspective that will serve him well in running the world's biggest messaging app. I look forward to working with Kunal to continue to make WhatsApp the best service for billions of people and millions of businesses,” said Mark Zuckerberg, Founder and CEO at Meta.
Miten Sampat, who has overseen strategy and finance at CRED since 2020, has been appointed interim chief executive officer with immediate effect. The company is reportedly working on a long-term management structure as it prepares for a potential initial public offering.
Commenting on the transition, Shah said CRED had evolved from a simple rewards proposition into a profitable platform serving millions of members, adding that the leadership team was well placed to take the company into its next phase. Interim CEO Sampat said the company saw significant opportunity to scale further ahead of a planned public market debut.
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