Kunal Shah exits CRED CEO role for WhatsApp as Meta takes 20% stake at $4.5B valuation
Meta invests $900M for ~20% in CRED, valuing the Bengaluru fintech at $4.5B. Founder Kunal Shah steps down to lead WhatsApp globally; Miten Sampat takes over as interim CEO. CRED posts maiden profitable quarter on $325M revenue and 17M members.
Meta invests $900M for ~20% stake in CRED at $4.5B valuation; founder Kunal Shah steps down as CEO to lead WhatsApp globally, with Miten Sampat as interim CEO. CRED reports first profitable quarter.
Why this matters
Marks a turning point for CRED: founder Kunal Shah exits the CEO seat just as the company hits its first profitable quarter, while Meta's $900M check ties CRED's roadmap to WhatsApp's India ambitions.
Leadership signals holding steady at 320 in the last 90 days, with founder-exit moves like CRED's standing out.