Indian fintech startup Cred will raise $900 million in a round led by Meta, but has lost its founder and CEO to WhatsApp.

Meta Platforms Inc. is investing $900 million into Indian fintech startup Cred, with plans to appoint its founder, Kunal Shah, the new leader of WhatsApp.

By Ashwin Manikandan and Abinaya V June 22 (Reuters) - Meta Platforms will invest $900 million in Indian fintech startup CRED, valuing it at $4.5 billion, while tapping CRED's founder Kunal Shah to ...

Meta’s $900 million CRED investment puts fintech founder Kunal Shah in charge of WhatsApp as the app pushes deeper into commerce and payments.

Meta has invested Rs 8,550 crore in Indian fintech CRED, acquiring a 20% stake and appointing its founder, Kunal Shah, as the new head of WhatsApp.

CRED founder Kunal Shah has been appointed the new head of WhatsApp, succeeding Will Cathcart, who has led the messaging platform for nearly 7 years.

Meta’s $900 million CRED deal and Kunal Shah’s move to lead WhatsApp could reshape India’s fintech, payments, and digital commerce landscape while strengthening Meta’s presence in its largest market.

Kunal Shah steps down as Cred CEO to become global head of WhatsApp as Meta invests ₹8,550 crore ($900 million) for a 20% stake in the Indian fintech. Learn how the Series H deal, leadership reshuffle ...

Kunal Shah, who is also the founder of CRED, will take charge of WhatsApp globally. Meta has announced that Shah will become the next Head of WhatsApp, succeeding Will Cathcart. Here are all ...

The platform operates a members-only financial rewards programme that targets users with high credit scores and offers them rewards and discounts ...

Industry leaders welcomed the leadership transition and acknowledged outgoing WhatsApp executive Will Cathcart's contributions.

WhatsApp gets a new boss, as Will Cathcart moves to a new role at Meta, while Shah steps down as CEO of Indian fintech giant CRED to replace Cathcart.