Meta Invests $900M in FinTech Icon CRED Tapping Founder Kunal Shah to Run WhatsApp.
Meta Inks Massive $900M Deal with Indian FinTech Giant CRED; Appoints Founder Kunal Shah as New Head of WhatsApp In a blockbuster move that reshapes the digital payment and messaging landscape, Meta has officially announced a staggering $900 million USD investment into the premier Indian FinTech platform, CRED . The transaction will be executed through a combination of freshly issued primary shares and secondary share purchases from existing investors. The monumental deal has triggered a historic executive shakeup at Meta's highest echelons. Kunal Shah , the visionary founder and CEO of CRED, will step down from his operational role to become the new Head of WhatsApp . Shah succeeds Will Cathcart , who is vacating the position after an illustrious seven-year tenure. Cathcart will transition to a highly classified division within Meta dedicated to engineering entirely new, next-generation products from scratch a project that Meta CEO Mark Zuckerberg described as a "zero-to-on...