Meta is handing the keys to the world's largest messaging app to a fintech founder from India, pairing a $900 million bet on Cred with the appointment of Kunal Shah as the next global head of WhatsApp.
Mark Zuckerberg announced the leadership change Monday, ending Will Cathcart's seven-year run atop WhatsApp. Cathcart, who Zuckerberg called "one of Meta's most important and effective leaders," will shift into an internal role building new products from the ground up.
Bloomberg reported Cathcart is expected to focus on consumer AI applications, though Meta has not detailed his next assignment.
Cathcart wrote on X that WhatsApp "is in the strongest position it's ever been" and called it "the right moment to step back."
Shah takes over a platform that crossed 3 billion monthly active users in 2025. Zuckerberg described Shah as "a builder who transformed CRED into one of India's most important technology companies" and said he brings "the kind of builder mentality and global perspective that will serve him well in running the world's biggest messaging app."
The investment gives Meta a roughly 20% stake in Bengaluru-based Cred at a $4.5 billion valuation, with the funding split between primary and secondary share purchases. Meta said it will not get access to Cred's customer information.
Shah will step down from his operating role as Cred's CEO and join Meta's global leadership team. Miten Sampat, Cred's strategy and finance head since 2020, has been appointed interim CEO.
Cred's board is working on a long-term management structure as the company prepares for an eventual IPO.
Meta said Shah will focus on expanding WhatsApp's revenue through advertising and subscription products while integrating AI agents across the platform. Cred, which Shah founded in 2018, now processes more than 40% of India's credit card bill payments and has 1.7 crore (17 million) monthly active members. The company reported annual revenue of around Rs 3,200 crore and said it is profitable.
Shah posted on X that "the delta between WhatsApp today and its full potential is massive."
