Meta Drops $900M on CRED, Snags CEO — WhatsApp's New Boss Brings His Own Credit Score 📈

Meta will lead a $900 million (₹8,550 crore) Series H funding round in Indian fintech CRED, valuing the company at $4.5 billion (₹43,239 crore) post-money through a combination of primary and secondary share purchases. The deal, structured as a minority investment, gives Meta a seat at the cap table without access to CRED's customer data. The company said the proceeds will support growth, strengthen institutional capabilities, and reinforce its leadership across multiple product segments.

As part of the transaction, CRED founder Kunal Shah will step down as CEO to join Meta's global leadership team as head of WhatsApp. He succeeds Will Cathcart, who led the messaging platform for seven years before moving to a new role. Shah will retain his personal stake in CRED despite leaving the operating position. "Kunal built CRED into one of India's most important technology companies, and he brings the kind of builder mentality and global perspective that will serve him well in running the world's biggest messaging app," Meta CEO Mark Zuckerberg posted.

Miten Sampat, who has led strategy and finance at CRED since 2020, takes over as interim CEO with immediate effect. The board is building a leadership structure aimed at an eventual public listing. Cathcart announced the transition on X on June 22, 2026, describing WhatsApp as "in the strongest position it's ever been."

The investment extends Meta's India footprint beyond social platforms. In June, Meta signed a deal to lease its first AI data center in India from Reliance Industries, a 168 MW facility in Jamnagar that builds on the $5.7 billion investment Meta made in Jio Platforms in 2020. CRED serves 17 million (1.7 crore) monthly members across payments, lending, insurance, and wealth products, and processes more than 40% of credit card bill payments in India. Its lending arm manages $2.5 billion (₹24,000 crore) in assets on behalf of major financial institutions.