Meta backs Cred with $900M at $4.5B valuation as Kunal Shah exits to lead WhatsApp globally
Meta is investing nearly $900 million (Rs 8,550 crore) in Indian fintech Cred at a $4.5 billion valuation. Founder Kunal Shah steps away from day-to-day operations to become global head of WhatsApp, with Miten Sampat taking over as Cred CEO.
Meta is investing ~$900 million in Indian fintech Cred at a $4.5 billion valuation, while founder Kunal Shah exits operations to become global head of WhatsApp. Miten Sampat will lead Cred going forward.
Why this matters
The move pairs a major Meta capital injection into Cred with a founder transition: Shah leaves to run WhatsApp globally while Miten Sampat assumes the CEO role, reshaping Cred's leadership and strategic trajectory.
Leadership signals steady at 337 in the last 90 days, underscoring continued C-suite churn across retail and fintech.
Also reported by
- Moneycontrol · Results — 1h after first sighting
- Moneycontrol · Results — 1h after first sighting