Meta has invested $900 million in Indian fintech company CRED, in what is being described as one of the largest funding rounds for an Indian fintech startup. The investment underscores Meta’s growing interest in India’s digital payments and financial services ecosystem.
As part of the development, CRED founder Kunal Shah will transition into a new role as the global head of WhatsApp, succeeding Will Cathcart. Cathcart will remain with Meta during the leadership transition before moving to a new role within the company.
The deal highlights Meta’s ambition to strengthen its presence across commerce and payments, building on platforms such as Facebook, Instagram and WhatsApp. For CRED, the fresh capital is expected to support its next phase of growth as it continues to expand its fintech offerings and user base.
