Kunal Shah exits Cred for WhatsApp global role as Meta takes 20% stake at $4.5B valuation
Meta invests ₹8,550 crore (~$900M) for ~20% of Cred, valuing the fintech at $4.5B post-money. Founder Kunal Shah departs to lead WhatsApp globally; Miten Sampat steps in as interim CEO. Board now charts an IPO path amid mounting UPI pressure from PhonePe, Google Pay and Paytm.
Cred founder Kunal Shah exits to lead WhatsApp globally as Meta invests ₹8,550 crore for ~20% stake, valuing Cred at $4.5 billion. Miten Sampat becomes interim CEO; board prepares fintech for eventual IPO amid intensifying UPI competition.