Meta appoints Kunal Shah as Global Head of WhatsApp following a reported USD 900 million investment in CRED while Miten Sampat takes over as interim CEO of the fintech company.
Meta has appointed Kunal Shah, Founder of fintech platform CRED, as the new Global Head of WhatsApp, marking a significant leadership change at the messaging platform. Shah will succeed Will Cathcart, who has led WhatsApp since 2019 and is set to transition into a new product focused role within Meta.
As part of the transition, Shah will step away from his day to day operating responsibilities at CRED while continuing to retain his shareholding in the company. Meanwhile, Miten Sampat, who has led strategy and finance functions at CRED since 2020, has been appointed interim Chief Executive Officer.
Shah is widely recognised as an entrepreneur and investor who founded CRED in 2018. The platform initially focused on rewarding users for making timely credit card bill payments and later expanded into lending, insurance, wealth management, commerce and digital payments.
Under his leadership, CRED grew to more than 17 million members and reached profitability while generating annual revenue of approximately USD 325 million. Prior to launching CRED, Shah founded FreeCharge, a digital payments company that was acquired by Snapdeal in 2015.
Known for his views on consumer behaviour, technology and business strategy, Shah has established himself as one of India’s most influential startup founders. His appointment is expected to strengthen WhatsApp’s global growth strategy as Meta continues to expand its focus on digital communication and technology driven services.
