Indian fintech entrepreneur Kunal Shah will become the new global head of Meta-owned WhatsApp, marking a significant leadership transition both for the messaging platform and for CRED, the fintech company he founded. The announcement was confirmed on Monday by WhatsApp chief Will Cathcart in a post on X and comes shortly after CRED revealed that it would raise approximately $900 million from Meta. Shah also announced that he would step away from his day-to-day operating role at CRED, while remaining involved with the company as a shareholder. In a social media post, he said the fintech platform was entering a new phase of growth and that Miten Sampat would assume the role of interim Chief Executive Officer. He noted that Sampat has led strategy and finance at CRED and has worked closely with him since 2020. CRED’s growth journey and expansion Reflecting on his entrepreneurial journey, Shah noted that following his exit from FreeCharge between 2015 and 2018, he spent time learning, investing and developing new ideas. He said he launched CRED using USD 1 million of personal capital, with the aim of rewarding users for paying their credit card bills on time. According to Shah, CRED grew from zero to 17 million members between 2019 and 2025 by aligning incentives with customer behaviour. During this period, the company expanded its product suite, including launches during the COVID-19 lockdowns, and raised more than $900 million from global investors. He also highlighted that the company carried out four employee stock ownership plan (ESOP) buybacks, secured a full stack of regulatory licences, and scaled its annual revenue to around $325 million (approximately Rs 3,200 crore) across payments, lending, insurance, commerce, wealth and credit card-related services. Shah further stated that CRED achieved its first profitable quarter in 2026 and had recently raised another $900 million from Meta in a combination of primary and secondary capital. He also announced the company’s fifth ESOP buyback. Transition to Meta and future role at WhatsApp Explaining his decision to step away from daily operations, Shah said he would remain associated with CRED as a shareholder. “I’m stepping away from the operating role and will continue as a shareholder. My commitment doesn’t change. Just the role,” he said. On his new position, Shah confirmed: “As for me, I’ll be joining Meta to lead WhatsApp globally.” He also clarified that Meta’s investment in CRED would be as a minority investor and that it would not have access to user or member data. “Meta comes in as a minority investor in CRED. No access to member data,” he stated. Outlook for WhatsApp Commenting on WhatsApp’s future potential, Shah said that despite its global scale and reach, significant untapped opportunities remain. “While it’s come very far, the delta between WhatsApp today and its full potential is massive,” he noted. Post navigation Brokerage houses decode Reliance’s AGM:Jio IPO will open path to earnings, growth will come from New Energy and AI
