Meta CEO Mark Zuckerberg has announced that CRED founder Kunal Shah will become WhatsApp’s next global CEO as Meta invests $900 million in the Indian fintech giant. Shah will lead WhatsApp’s future growth while CRED enters a new leadership phase under interim CEO Miten Sampat and expands globally.
In a major leadership transition that highlights the growing influence of Indian entrepreneurs in global technology, Meta CEO Mark Zuckerberg on Monday announced that CRED founder Kunal Shah will become the next Global CEO of WhatsApp. Alongside the leadership appointment, Meta is investing approximately $900 million (around Rs 8,550 crore) in fintech company CRED, marking one of the most significant strategic investments by the technology giant in India’s startup ecosystem.
The announcement signals a new chapter for both WhatsApp and CRED. Kunal Shah, who founded CRED in 2018, will step down from his active leadership role at the fintech company and move to Meta, where he will oversee the future growth and development of WhatsApp, the world’s largest messaging platform.
Sharing the news, Shah stated that Meta would become a minority investor in CRED and assured users that there would be no access to member data as part of the investment arrangement. He expressed confidence in the future of CRED and optimism about his new responsibilities at Meta.
“Team CRED, I’ll still expect you to be a 10x version of yourselves. As for me, I’ll be joining Meta to lead WhatsApp globally. Meta comes in as a minority investor in CRED. No access to member data,” Shah said in a statement.
The entrepreneur also expressed gratitude toward Meta’s leadership team, including Mark Zuckerberg and Chris Cox, while thanking outgoing WhatsApp chief Will Cathcart for ensuring a smooth transition process.
Following Shah’s departure from day-to-day operations at CRED, the company will now be led by Miten Sampat, who has been appointed interim CEO. The transition comes at a time when CRED continues to strengthen its position in India’s rapidly expanding fintech sector.
Announcing the appointment, Mark Zuckerberg praised Shah’s achievements in building CRED into one of India’s most influential technology companies. He emphasized that Shah’s entrepreneurial mindset and global vision make him well-suited to lead WhatsApp through its next phase of innovation and expansion.
“Kunal Shah will join Meta as WhatsApp’s next leader. 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,” Zuckerberg said.
The Meta chief added that he looks forward to working closely with Shah to further improve WhatsApp for billions of users and millions of businesses that depend on the platform every day.
Shah will replace Will Cathcart, who has served as WhatsApp’s head for the past seven years. During his tenure, Cathcart played a key role in expanding the platform’s global user base beyond three billion users while maintaining a strong focus on privacy and secure communication.
Zuckerberg acknowledged Cathcart’s contributions and revealed that the outgoing WhatsApp chief will remain within Meta, taking on a new role focused on developing products from the ground up.
Reflecting on his journey at CRED, Shah highlighted the company’s remarkable growth since its launch in 2018. He noted that what began as a mission to reward creditworthy individuals has evolved into a highly successful fintech platform serving millions of members.
According to Shah, CRED has achieved revenue of approximately Rs 3,200 crore ($325 million), reached profitability, secured a comprehensive set of licenses, and built a strong and trusted brand in the Indian market. He expressed confidence that the company is well-positioned for long-term success with fresh capital, experienced leadership, and a talented workforce.
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The move is being viewed as a significant milestone for India’s startup ecosystem, demonstrating how Indian entrepreneurs are increasingly taking leadership roles on the global technology stage. Meta’s substantial investment in CRED and Shah’s appointment as WhatsApp Global CEO could further strengthen collaboration between global technology firms and India’s rapidly growing digital economy.
