Cred founder Kunal Shah to lead WhatsApp as Meta invests ₹8,550 crore in the fintech startup
Meta Platforms Inc. has appointed Cred founder Kunal Shah to lead WhatsApp as part of its ₹8,550 crore ($900 million) investment in the Indian fintech startup, according to an official announcement.
The investment gives Meta an approximately 20% stake in Cred, which operates an app that is known for rewarding users who pay their credit card bills on time. The deal values the company at roughly ₹42,600 crore ($4.5 billion) on a post-money basis, the press release stated.
