Meta Platforms has named Kunal Shah, founder of Indian fintech company CRED, as the new head of WhatsApp‘s global operations, while also acquiring a 20% stake in the Bengaluru-based startup in a deal that underscores the tech giant’s growing focus on digital payments and financial services.
Shah will succeed WhatsApp chief Will Cathcart, who is set to transition into a new artificial intelligence-focused leadership role within Meta.
The appointment comes as WhatsApp continues to deepen its presence beyond messaging, particularly in India, its largest market with more than 500 million users. The platform has increasingly become a hub for payments, commerce, and business communications across the country.
Meta Chief Executive Officer Mark Zuckerberg announced the leadership change in a post on Facebook, while Shah separately confirmed the development.
In a statement, Meta described Shah as “one of India’s most respected entrepreneurs,” highlighting his understanding of how WhatsApp is integrated into everyday life for millions of users.
The company added that his experience as a founder would bring a fresh perspective and entrepreneurial approach to the platform’s next phase of growth.
It’s been a minute.
2015–2018
– Exited FreeCharge. Spent time learning and investing.
– Pondered about: Why can’t trust be rewarded? Started with $1M of personal capital.
– Launched CRED to reward people for paying credit card bills on time.2019–2025
– Built a system run by a…— Kunal Shah (@kunalb11) June 22, 2026
Alongside the leadership appointment, Meta has invested $900 million in CRED, valuing the fintech company at approximately $4.5 billion. The transaction ranks among the largest investments in India’s fintech sector in recent years.
The valuation exceeds CRED’s previous funding round valuation of $3.5 billion in 2025, although it remains below the company’s peak valuation of $6.4 billion reached in 2022, according to Reuters.
CRED said the agreement grants Meta a minority ownership stake and does not provide the company with access to customer data.
Founded in 2018, CRED operates a rewards-based platform that encourages users to make timely credit card payments, offering benefits and incentives to members with strong credit profiles.
Commenting on his new role, Shah said the messaging platform remains significantly under-penetrated relative to its long-term potential.
“While WhatsApp has come a long way, the gap between where it is today and what it can ultimately become remains enormous,” Shah wrote on X.
“I look forward to working with Mark, Chris Cox, and teams across Meta as we help shape the next chapter of WhatsApp’s evolution.”
Huma Nisar is Associate Editor at Views and News. She also writes opinion articles on health, society and diet.
