Kunal Shah exits CRED operating role for Meta's global WhatsApp gig; Miten Sampat takes interim CEO

Meta invests ~$900M for 20% in CRED at $4.5B post-money valuation as founder Kunal Shah steps back to lead WhatsApp globally. Miten Sampat assumes interim CEO. CRED's FY25 revenue rose 16% to ₹2,735cr against losses of ₹1,457cr; recently bagged RBI payment aggregator licence.

— Source publishedTue, 23 Jun, 2026, 13:43 IST·First seen Tue, 23 Jun, 2026, 14:01 IST·Source Times of India · Business

What happened

Cred · Meta invests ~$900M for 20% in CRED at $4.5B valuation. Founder Kunal Shah exits operating role to lead WhatsApp globally; Miten Sampat becomes interim

Key facts

  • $900 million
  • 20% stake
  • $4.5 billion post-money
  • FY25 revenue ₹2,735 crore
  • 16% growth
  • losses ₹1,457 crore
  • credit score >750

Why this matters

Meta's 20% stake in an Indian fintech with a fresh PA licence opens a strategic wedge for WhatsApp Pay monetization—watch for follow-on payments infrastructure tie-ups across the subcontinent.