Meta bets $900M on Cred at $4.5B valuation, poaches Kunal Shah to run WhatsApp globally
Meta acquires ~20% of Indian fintech Cred for $900M, installing founder Kunal Shah as global WhatsApp head with eyes on 3B-user payments rails. Miten Sampat steps in as interim CEO as the 17M-MAU platform readies an IPO track from Bangalore.
Meta invests $900 million in Indian fintech Cred for ~20% stake at $4.5 billion valuation, recruiting founder Kunal Shah to lead WhatsApp globally. Miten Sampat takes interim CEO role as Cred eyes IPO.