Meta Platforms Inc. has appointed Kunal Shah, founder of Indian fintech startup Cred, as the new head of WhatsApp. This move is part of Meta's ₹8,550 crore ($900 million) investment in Cred, announced on June 22. The investment secures Meta an approximately 20% stake in Cred, valuing the company at about ₹42,600 crore ($4.5 billion) on a post-money basis, according to livemint.com.
The deal involves Meta injecting $900 million into Cred, a fintech app that incentivizes users to pay credit card bills on time. Kunal Shah, who founded Cred, will now lead WhatsApp, Meta's widely used messaging platform. The announcement was made official through a press release shared by Meta and covered by livemint.com, highlighting the strategic nature of the investment and leadership change.
This investment underscores Meta's growing interest in the Indian fintech sector, leveraging Cred's user base and technology. Cred's valuation at $4.5 billion places it among India's high-value startups, while Meta's 20% stake signals a significant commitment to the fintech space. The appointment of Shah to WhatsApp aligns with Meta's strategy to integrate fintech capabilities into its messaging services, reflecting broader trends in digital payments and financial services in India.
The ₹8,550 crore investment deal and Kunal Shah's appointment were confirmed on June 22, 2026, marking a notable shift in leadership at WhatsApp and a major capital infusion into Cred, as reported by livemint.com.