Meta Platforms has agreed to invest $900 million in Bengaluru-based fintech startup CRED, valuing the company at around $4.5 billion. The investment gives Meta a minority stake and represents one of the largest fintech investments in India in recent years.
Alongside the investment, CRED founder Kunal Shah will become the new global head of WhatsApp, replacing Will Cathcart, who is moving to another role within Meta after leading the messaging platform for seven years.
Shah first gained prominence after founding FreeCharge and selling it for about ₹2,800 crore. He later launched CRED in 2018, building it into a major fintech platform offering payments, lending, insurance, wealth management and lifestyle services.
According to the company, CRED serves around 17 million monthly users, processes more than 40% of India’s credit card bill payments and manages loan assets worth approximately $2.5 billion through partner institutions.
The funding will be used to accelerate growth, strengthen leadership capabilities and expand product offerings. CRED’s head of strategy and finance, Miten Sampat, will take over as interim CEO as Shah joins Meta’s global leadership team.
The announcement underscores Meta’s growing interest in India’s digital economy and marks a significant moment for the country’s startup ecosystem, with an Indian founder taking charge of one of the world’s most widely used communication platforms.
