Kunal Shah exits CRED CEO role for WhatsApp top job as Meta takes 20% stake in $900M deal
Meta's Rs 8,550 crore investment values CRED at Rs 43,239 crore ($4.5B) and installs founder Kunal Shah as global WhatsApp chief. Miten Sampat takes over as interim CEO ahead of IPO. CRED now claims 1.7 crore MAU, 40% share of India credit card bill payments, Rs 24,000 crore AUM and Rs 3,200 crore revenue.
Meta invests $900M in CRED for ~20% stake at $4.5B valuation; founder Kunal Shah exits CEO role to lead WhatsApp globally. Miten Sampat named interim CEO as CRED preps for IPO.
Why this matters
Marks a defining leadership pivot for CRED as founder Kunal Shah departs the CEO seat for Meta's WhatsApp top job, with Miten Sampat steering the fintech into IPO mode under a new strategic Meta partnership.
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