Meta Backs Fintech Cred as Founder Kunal Shah Takes Over WhatsApp

The investment, structured through primary and secondary share purchases, positions Meta as a strategic backer while ensuring no access to Cred’s sensitive customer data. Kunal Shah succeeds Will Cathcart, who has directed WhatsApp since 2019. Mark Zuckerberg praised Shah’s builder mentality, citing it as the essential trait required to navigate the app's global scale. Cathcart will remain at Meta, pivoting to a product development role, though specifics regarding his new mandate remain undisclosed.

Following Shah’s departure, Miten Sampat, previously the head of strategy and finance at Cred, assumes the role of interim CEO. Cred’s board is currently refining its leadership hierarchy as the firm prepares for an eventual initial public offering. The startup, which gamifies credit card management and financial tracking, remains a major player in the Indian digital payments ecosystem, now bolstered by the capital and executive influence of one of Silicon Valley’s largest conglomerates.