In a major leadership shake-up, Meta Platforms has appointed CRED founder and entrepreneur Kunal Shah as the new global head of WhatsApp. The move comes along with the $900 million investment of Meta in the Indian fintech startup CRED, showcasing the growing focus of tech giants on India, its largest market for WhatsApp.
Shah will succeed Will Cathcart, who has led WhatsApp for the past seven years and will transition to a new role within Meta. The announcement marks one of the most significant leadership appointments involving an Indian startup founder at a global technology platform.
Meta’s investment values CRED at approximately $4.5 billion and gives the company a minority stake in the Bengaluru-based fintech firm. According to the companies, the deal does not provide Meta with access to any of CRED’s customer data. The fresh capital will be used to accelerate growth, strengthen the leadership capabilities and expand CRED’s offerings across multiple financial services categories.
Founded in 2018, CRED has grown into one of the leading fintech platforms in India. serving millions of users through their services, which include credit cards, bill payments, lending, insurance, wealth management, and lifestyle benefits. The company says it processes a substantial share of credit card payments in India and manages billions of rupees in the lending assets through partner institutions.
Following the departure of Sha from CRED, Miten Sampar, the strategy and finance head of CRED, will serve as an interim CEO. Industry views Shah’s appointment as a recognition of India’s growing influence in global technology leadership. With WhatsApp expanding beyond messaging into payments, commerce, and business services, particularly in India, the expertise of Shah in fintech and other key areas is expected to play a key role in shaping the next phase of growth of the platform.
