Meta Invests ₹8,550 Crore In Cred, Names Kunal Shah As New WhatsApp Chief

Meta Platforms has announced a major strategic move in India, investing ₹8,550 crore ($900 million) in fintech startup Cred and appointing its founder Kunal Shah as the next head of WhatsApp. The deal gives Meta a nearly 20% stake in the Bengaluru-based company and values Cred at around ₹42,600 crore ($4.5 billion).

As part of the leadership transition, Shah will take over from Will Cathcart, who has led WhatsApp for about seven years and oversaw a period of significant global expansion for the messaging platform.

Reacting to his appointment, Shah said: "While it's come very far, the delta between WhatsApp today and its full potential is massive. I look forward to working with Mark, Chris, and the leadership across Meta for the next step in WhatsApp's journey."