US-based Meta Platforms is about to take a position about $900 million in Indian fintech unicorn CRED, as the corporate’s founder Kunal Shah prepares to take over as the brand new chief of WhatsApp.

CRED mentioned the funding spherical will increase Rs 8,550 crore and worth the corporate at Rs 43,239 crore, or about $4.5 billion, after the investment.

The spherical will embody a mixture of main and secondary share purchases. Meta will be a part of CRED’s cap desk as a minority investor, however CRED mentioned the US expertise group is not going to get entry to its buyer data.

Shah, who based CRED in 2018, will step away from his working position asuilder CEO and transfer to Meta’s international leadership group whereas retaining his private shareholding within the firm.

“Kunal Shah will be a part of Meta as WhatsApp’s subsequent chief. Kunal constructed CRED into one among India’s most vital expertise firms, and he brings the sort of builder mentality and international perspective that may serve him properly in working the world’s largest messaging app. I sit up for working with Kunal to proceed to make WhatsApp the most effective service for billions of individuals and thousands and thousands of companies,” mentioned Mark Zuckerberg, CEO of Meta.

“Will Cathcart simply introduced that he is stepping down as the pinnacle of WhatsApp after 7 years main the app. Will’s been one among Meta’s most vital and efficient leaders, serving to to deliver WhatsApp to over 3 billion individuals and championing privateness for our neighborhood. I am tremendous grateful for his partnership and contributions over these years. Will is transitioning to a brand new position inside Meta the place he’ll construct new merchandise from the ground-up — I am excited to proceed to work collectively carefully,” Zuckerberg added.

Will Cathcart, the present head of WhatsApp, mentioned in a publish on X that Kunal Shah would develop into the brand new chief of the Meta-owned messaging platform.

“Kunal Shah might be WhatsApp’s subsequent chief. He constructed CRED into one among India’s most vital expertise firms and has a deep take care of the people who depend on our apps. I’m very excited to see what Kunal and our superb group proceed to construct,” Cathcart mentioned.

Some private information. After practically 7 years main WhatsApp, I am excited to share who will take over the accountability of delivering easy, dependable, and personal messaging for the world. WhatsApp is within the strongest place it is ever been — and that felt like the fitting second to…

— Will Cathcart (@wcathcart) June 22, 2026

Shah mentioned in a publish on X that Meta could be a minority investor in CRED and would have “no entry to member knowledge”.

It’s been a minute.

2015–2018
– Exited FreeCharge. Hung out studying and investing.
– Contemplated about: Why cannot belief be rewarded? Began with $1M of private capital.
– Launched CRED to reward individuals for paying bank card payments on time.

2019–2025
– Constructed a system run by a…

— Kunal Shah (@kunalb11) June 22, 2026

“I began Cred in 2018 with a perception that creditworthiness deserves to be rewarded. In beneath eight years, that perception has was a brand new class: thousands and thousands of members, ~₹3,200 crore (~US $325M) in income, profitability, a full stack of licences and a robust model. On this basis, with further capital and a very gifted group, CRED is poised to develop into an everlasting establishment for many years to come back. I’m stepping again with gratitude and with conviction that the group will hold elevating the bar,” mentioned Kunal Shah, founder, CRED.

Miten Sampat, who has led technique and finance at CRED since 2020, has been appointed interim CEO with fast impact.

“We’ve got a generational alternative to construct on Kunal’s imaginative and prescient and compound constantly in the direction of changing into a public firm. I’m excited to take CRED ahead in its subsequent chapter. We’re simply getting began,” Sampat mentioned.

CRED mentioned its board and management group are engaged on the construction wanted earlier than an eventual IPO.

Based as a bank card invoice funds platform, CRED rewards customers for well timed bank card funds and provides members entry to gives and premium experiences.

The corporate has since expanded into lending, insurance coverage, wealth and different monetary providers.

CRED mentioned it has 17 million month-to-month members and processes greater than 40% of bank card invoice funds in India. Its lending enterprise has grown to Rs 24,000 crore in managed property for companion monetary establishments.

For FY25, CRED reported working income of Rs 2,735 crore, up 16% from a 12 months earlier. Its working loss narrowed to Rs 298 crore, whereas complete loss stood at Rs 1,457 crore.

The brand new spherical marks a restoration from CRED’s earlier valuation reset. The corporate raised Rs 617 crore from GIC and different present buyers final 12 months at a valuation of $3.5 billion, down from the $6.4 billion valuation it secured in 2022.

The newest funding comes as CRED seeks to speed up progress and put together for a attainable inventory market itemizing.