June 22 : Indian fintech firm CRED said on Monday it will raise about $900 million from Meta Platforms at a post-money valuation of $4.5 billion, as it seeks to accelerate growth and prepare for an eventual stock market listing.

Cred, led by founder Kunal Shah, is on the verge of surpassing 10 million users for its biometric UPI payments feature, showcasing significant growth in its payments ecosystem.

Meta is investing $900mn in India's Cred for a ~20% stake, and making founder Kunal Shah the new head of WhatsApp, replacing Will Cathcart.

Meta invests $900 million in CRED as founder Kunal Shah transitions to lead WhatsApp globally, enhancing India's fintech landscape.

The land of WhatsApp uncles and ubiquitous 'Good morning' messages has given the blockbuster messaging platform its next global head, with Meta Platforms elevating Cred founder…

This was among the tech giant's biggest investments in the Indian startup ecosystem, which also shot Shah into the elite club of global tech leaders. Zooming out, here’s a look at…