Meta to invest Rs 8,550 cr in CRED; appoints founder Kunal Shah as global WhatsApp head
NEW DELHI: Tech giant Meta will invest Rs 8,550 crore (about USD 900 million) in Indian fintech firm CRED, and has appointed its founder, Kunal Shah, as the new global head of messaging platform WhatsApp.
Shah – who will move from his operating role as CEO of CRED to join Meta’s global leadership team – succeeds Will Cathcart, who is stepping down as the head of WhatsApp after a seven-year tenure.
Cathcart will take on a new role at Meta, building new products from the ground up.
