CRED bags $900M from Meta at $4.5B valuation; Kunal Shah exits CEO role for Meta
Series H of INR 8,550 crore led by Meta lifts CRED to INR 43,239 crore post-money. Founder Kunal Shah steps down, joining Meta; Miten Sampat takes over as interim CEO ahead of planned IPO. Platform claims 1.7 crore members, 40% share of credit card bill payments, INR 24,000 crore AUM and INR 3,200 crore revenue.
CRED raises INR 8,550 crore Series H led by Meta at USD 4.5B valuation. Founder Kunal Shah steps down as CEO, joining Meta; Miten Sampat takes over as interim CEO ahead of eventual IPO.
Why this matters
Marks CRED's largest funding round and a leadership reset, repositioning the fintech for IPO under Sampat while Shah moves to Meta, deepening the Meta-CRED strategic tie.
Leadership signals steady at 356 in the last 90 days.