Meta Pumps ₹8,550 Cr Into CRED at $4.5B Valuation; Kunal Shah Exits to Lead WhatsApp Globally
Meta takes minority stake in CRED at $4.5B as founder Kunal Shah departs to head WhatsApp globally. Miten Sampat steps in as interim CEO ahead of planned IPO. CRED posted ₹2,735 Cr revenue (16% growth) but ₹298 Cr operating loss in FY25, with 1.7 Cr MAUs handling 40% of India's credit card bill payments.
Meta is investing ₹8,550 crore in CRED at $4.5B valuation as a minority investor, while appointing CRED founder Kunal Shah as global head of WhatsApp. Miten Sampat becomes interim CEO as CRED prepares for an eventual IPO.