Kunal Shah named WhatsApp CEO as Meta bets $900M on CRED to crack India payments
Meta has reportedly invested $900M in CRED and elevated founder Kunal Shah to WhatsApp CEO, replacing Will Cathcart. The move targets WhatsApp Pay's stalled India play against PhonePe and Google Pay, with 500M local users in scope and a broader push into commerce and AI.
Meta invests $900M in CRED and appoints founder Kunal Shah as WhatsApp CEO, replacing Will Cathcart. Move aims to strengthen WhatsApp Pay in India against PhonePe and Google Pay, expanding payments, commerce and AI capabilities.
Why this matters
CRED moves from premium credit-card rewards app to anchor of Meta's India payments and commerce strategy, putting founder Kunal Shah atop WhatsApp's 500M-user India business.
Leadership signals steady at 353 over the past 90 days.