Meta Appoints CRED Founder Kunal Shah as WhatsApp CEO in $900M Deal

In a major leadership shakeup, Meta Platforms has appointed Kunal Shah, the founder of Indian fintech unicorn Cred, as the new Chief Executive of WhatsApp. Shah succeeds outgoing head Will Cathcart, the companies announced on June 22.

As part of this blockbuster transition, Meta is investing approximately $900 million (₹8,550 crore) into Cred, valuing the Bengaluru-based startup at $4.5 billion.

Leadership Transition at Cred

With Shah transitioning to his new global role at Meta, Cred will now be led by Miten Sampat, the company’s current second-in-command.

The announcement follows an exclusive report by Moneycontrol earlier this month, which revealed that Meta was in talks to invest in Cred at a $4 billion valuation while exploring a high-profile operating role for Shah within the social media giant.

Kunal Shah’s Track Record

This marks the second major startup exit for Shah, who previously built and sold the digital payments platform Freecharge between 2015 and 2018. Over the last decade, Shah has cemented himself as a central figure in India’s tech ecosystem, not only through his own ventures but also as one of the country’s most prolific angel investors, backing hundreds of early-stage startups.

Corporate Statements

Meta CEO Mark Zuckerberg expressed strong confidence in Shah’s ability to scale the messaging platform’s global and commercial footprint.

“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. I look forward to working with Kunal to continue to make WhatsApp the best service for billions of people and millions of businesses.”

— Mark Zuckerberg, CEO, Meta

Shah officially takes the reins from Will Cathcart, who is stepping down from his role leading WhatsApp.