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Meta Pours USD900M in India Startup Cred, Plans to Appoint New Head of WhatsApp
23 Jun 2026 10:05
Meta Platforms, Inc. (META.US) poured USD900 million in Indian fintech startup Cred, acquiring an approximately 20% stake, with plans to appoint Cred founder Kunal Shah as the new head of WhatsApp.

Cred operates an App that rewards users for paying their credit card bills on time. Cred is currently valued at USD4.5 billion post-investment.

Shah will succeed current WhatsApp head Will Cathcart, who has led WhatsApp for about seven years. During his tenure, WhatsApp's user base more than doubled.

A Meta spokesperson declined to disclose details of Cathcart’s next project.
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