Meta just wrote a $900 million check to an Indian fintech company and handed its founder the keys to WhatsApp. That’s not a typo.
The social media giant invested $900 million in CRED, the rewards-based credit card payments app founded by Kunal Shah in 2018. As part of the arrangement, Shah has been appointed as the new global head of WhatsApp, replacing Will Cathcart, who is transitioning to a product-focused role within Meta.
What Meta is actually buying
The investment values CRED at $4.5 billion post-money, a meaningful jump from its previous valuation of $3.5 billion in 2025. Meta’s stake comes out to roughly 20%, acquired through a mix of primary and secondary shares.
Meta won’t get a board seat and won’t have access to CRED’s customer data.
