Meta Platforms Inc. is making a $900 million investment in Indian fintech startup Cred and plans to appoint the company’s founder, Kunal Shah, as the new head of WhatsApp.

The deal gives Meta an approximately 20 per cent stake in Cred, which operates a platform that rewards users for making timely credit card payments.

Following the investment, Cred’s valuation has risen to $4.5 billion, according to a company statement.

Shah is set to succeed Will Cathcart, who has led WhatsApp for about seven years. During his tenure, Cathcart oversaw significant growth, with the messaging platform’s user base more than doubling.

He will remain at Meta, taking on a new role focused on developing consumer products and applications powered by artificial intelligence.

A Meta spokesperson declined to provide further details about Cathcart’s upcoming responsibilities.

The investment marks a significant step in WhatsApp’s evolution.

The messaging service, which surpassed 3 billion monthly users in 2025, remains one of the world’s largest communication platforms and is continuing to expand newer revenue streams such as advertising and subscription services.