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CRED founder Kunal Shah to join Meta, lead WhatsApp globally
🇴🇲 Oman /Technology

CRED founder Kunal Shah to join Meta, lead WhatsApp globally

From Times of Oman · () English

Summarized and contextualized by DistantNews.

At a glance

News Named sources New plan
  • CRED founder Kunal Shah will join Meta to lead WhatsApp globally.
  • Shah is stepping down from his operational role at CRED, with Miten Sampat becoming interim CEO.
  • Shah stated Meta's investment in CRED is as a minority investor without data access, and he sees massive untapped potential for WhatsApp.

Kunal Shah, the founder of Indian fintech platform CRED, announced he is joining Meta to lead WhatsApp globally. Shah is stepping down from his operational role at CRED, a company he launched with $1 million of personal capital in 2019 to reward users for timely credit card bill payments. He will continue as a shareholder in CRED. Miten Sampat, who has led strategy and finance at CRED since 2020, will take over as interim Chief Executive Officer. Shah highlighted CRED's growth to 17 million members by 2025, raising over $900 million from global investors, and achieving its first profitable quarter in 2026. He also noted a new $900 million investment from Meta in CRED, emphasizing it's a minority stake with no member data access. Shah expressed his belief in WhatsApp's significant untapped potential, despite its current scale. CRED's journey included launching multiple products, securing regulatory licenses, and scaling annual revenue to approximately $325 million across various financial services.

CRED is ready for its next phase. I am stepping back and @miten steps in as interim CEO.

— Kunal ShahAnnouncing his transition from CRED's operational leadership.
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Originally published by Times of Oman. Summarized and contextualized by our editorial team with added local perspective. Read our editorial standards.

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