Kunal Shah exits CRED CEO role to head WhatsApp globally; Meta leads Rs 8,550 cr round at $4.5B valuation
CRED closes Series H at $4.5B post-money with Meta leading the Rs 8,550 crore raise. Founder Kunal Shah steps down as CEO to take global helm at WhatsApp; CFO Miten Sampat takes interim charge. Platform serves 1.7 cr MAU and processes 40% of India's credit card bill payments with Rs 24,000 cr AUM.
What happened
Cred · CRED raises Rs 8,550 crore in Meta-led Series H at $4.5B post-money valuation. Founder Kunal Shah steps down as CEO to lead WhatsApp globally at Meta;
Key facts
- Rs 8,550 crore
- $900 million
- $4.5 billion post-money
- $4.03 billion pre-money
- 1.7 crore MAU
- 40% of India credit card bill payments
- Rs 24,000 crore AUM
Why this matters
With CRED owning 40% of India credit card bill flow and Shah now inside Meta, expect WhatsApp Pay-CRED rails convergence to become the defining India fintech partnership question of 2025.
Also reported by
- Indian Express · Business — 2h after first sighting