Zuckerberg praised Shah’s entrepreneurial journey, describing him as a leader with a strong builder mindset and global outlook
CRED founder Kunal Shah is set to take charge as the next global CEO of WhatsApp, with Meta CEO Mark Zuckerberg announcing the appointment alongside a major investment in the Indian fintech company.
Meta will invest around $900 million (nearly Rs 8,550 crore) in CRED, while Shah will move to Meta to lead WhatsApp globally. The investment will make Meta a minority investor in CRED, with Shah clarifying that the deal does not involve access to member data.
“Team CRED, I’ll still expect you to be a 10x version of yourselves. As for me, I’ll be joining Meta to lead WhatsApp globally. Meta comes in as a minority investor in CRED. No access to member data,” Shah said.
He added that he was looking forward to working with Zuckerberg, Meta’s leadership team and WhatsApp executives as the messaging platform enters its next phase.
“I look forward to working with Mark, Chris, and the leadership across Meta for the next step in WhatsApp’s journey,” Shah said, while thanking outgoing WhatsApp chief Will Cathcart for making the transition smooth.
Zuckerberg praised Shah’s entrepreneurial journey, describing him as a leader with a strong builder mindset and global outlook.
“Kunal built CRED into one of India’s most important technology companies, and he brings the kind of builder mentality and global perspective that will serve him well in running the world’s biggest messaging app,” Zuckerberg said.
He added that he looked forward to working with Shah to continue improving WhatsApp for billions of users and millions of businesses worldwide.
Shah will succeed Will Cathcart, who has led WhatsApp for seven years. Zuckerberg credited Cathcart with helping expand the platform to more than three billion users while focusing on privacy and community trust.
“Will’s been one of Meta’s most important and effective leaders, helping to bring WhatsApp to over 3 billion people and championing privacy for our community,” Zuckerberg said.
Cathcart will move into a new role within Meta, where he will focus on building new products.
Meanwhile, CRED will be led by Miten Sampat as interim CEO following Shah’s move.
Reflecting on his journey, Shah said he founded CRED in 2018 with the belief that creditworthiness should be rewarded. He said the company has grown into a major technology platform with millions of members, significant revenue, profitability, multiple licences and a strong brand presence.
“On this foundation, with additional capital and an extraordinarily talented team, CRED is poised to become an enduring institution for decades to come,” Shah said.
Shah’s transition marks a major leadership move for both Meta and India’s startup ecosystem, bringing one of the country’s prominent fintech entrepreneurs to the helm of one of the world’s largest communication platforms.
