Meta bets $900 mn on Cred, eyes WhatsApp super-app play in India
Meta is taking a 20% stake in Bengaluru-based Cred for $900 million, with founder Kunal Shah set to lead WhatsApp globally. The move signals Zuckerberg's renewed push to turn WhatsApp's 500 million Indian users into a payments-and-commerce super-app, challenging Google Pay and PhonePe on UPI turf.
Meta is investing $900 million for a 20% stake in Bengaluru-based Cred, with founder Kunal Shah moving to lead WhatsApp globally. The deal signals Zuckerberg's renewed super-app ambitions in India, targeting payments, commerce and high-spending consumers.