Meta has appointed Indian fintech entrepreneur Kunal Shah as the new head of WhatsApp. The company announced the leadership change on Monday alongside a major investment in Shah’s startup.
Meta also confirmed it will lead a $900 million funding round for CRED. The consumer finance company was founded by Shah in 2018.
Meta Backs CRED With Major Investment
Meta Chief Executive Mark Zuckerberg praised Shah’s leadership and entrepreneurial experience. He said Shah built CRED into one of India’s leading technology companies.
Shah previously founded a payments startup before selling it to Snapdeal. Since then, he has become one of India’s most active angel investors.
Meanwhile, CRED expanded beyond credit card rewards into wealth management, insurance, and lending services. Today, the platform serves around 17 million users across India.
WhatsApp Eyes New Revenue Opportunities
Shah’s appointment comes as WhatsApp explores new ways to generate revenue. Meta hopes to expand the messaging platform beyond its traditional advertising business.
India remains WhatsApp’s largest market with more than 500 million users. However, analysts believe the platform has yet to build a widely adopted payments service.
Earlier this year, WhatsApp introduced artificial intelligence tools for businesses in India. These features help companies answer customer queries and manage appointments automatically.
Shah said WhatsApp still has significant room for future growth. He described the gap between the platform’s current position and its full potential as substantial.
The appointment also received praise across India’s startup ecosystem. Investors described the move as another milestone for Indian entrepreneurs leading global technology companies.
