Meta names Kunal Shah as Global Head of WhatsApp
In a major technology and fintech development, Meta has announced an investment of Rs 8,550 crore (around USD 900 million) in Indian fintech firm CRED and appointed its founder, Kunal Shah, as the new global head of WhatsApp.
Shah will transition from his role as CRED CEO to join Meta’s leadership team, succeeding Will Cathcart, who led WhatsApp for seven years and will now focus on developing new products within Meta. Meta CEO Mark Zuckerberg described Shah as a visionary builder with the experience needed to lead the world's largest messaging platform.
The investment values Bengaluru-based CRED at approximately Rs 43,239 crore (USD 4.5 billion). The Series H funding round includes a mix of primary and secondary share purchases, with Meta becoming a minority stakeholder. The company clarified that Meta will not gain access to CRED’s customer data.
Following Shah’s departure, CRED’s strategy and finance head Miten Sampat has been appointed interim CEO. The company is also working on a long-term leadership structure as it moves towards a potential initial public offering (IPO).
Founded in 2018, CRED serves around 1.7 crore monthly active users and handles more than 40 per cent of India’s credit card bill payments. The fintech firm reported improved financial performance in FY25, with operating losses narrowing significantly while revenue continued to grow.
Shah said WhatsApp still has enormous untapped potential and expressed enthusiasm about working with Meta’s leadership to shape the platform’s next phase of growth.
