Kunal Shah Steps Down as CRED CEO to Lead WhatsApp Globally at Meta, Replacing Will Cathcart; Mark Zuckerberg Shares Welcome Message
CRED founder Kunal Shah is stepping down as CEO, with Miten taking over as interim chief. Shah will join Meta as Global Head of WhatsApp while remaining a CRED shareholder. The move follows CRED’s first profitable quarter and highlights the growing global influence of Indian tech leaders.
Kunal Shah, founder of fintech unicorn CRED, has announced he is stepping back from day-to-day operations at the company he built into a major payments, lending, and credit platform. Miten, who has been with CRED since 2020 heading strategy and finance, will take over as interim CEO. Shah will remain a shareholder and continue supporting the company.
CRED CEO Kunal Shah Steps Down from Position
In a detailed post on X, Shah reflected on CRED’s journey from its 2018 launch to serving 17 million members and achieving around 325 million dollars in annual revenue. The company recently recorded its first profitable quarter and raised another 900 million dollars from Meta in a mix of primary and secondary capital, along with its fifth ESOP buyback. Sridhar Vembu Backs IBM CEO Arvind Krishna's Warnings on 'AI Data Centre Bubble'.
Kunal Shah Steps Down as CEO of CRED, Announces Joining Met aÂ
It’s been a minute.
2015–2018
- Exited FreeCharge. Spent time learning and investing.
- Pondered about: Why can't trust be rewarded? Started with $1M of personal capital.
- Launched CRED to reward people for paying credit card bills on time.
2019–2025
- Built a system run by a…
— Kunal Shah (@kunalb11) June 22, 2026
Meta CEO Mark Zuckerberg Welcomes Kunal Shah Onboard to Lead WhatsApp
Shah is now set to join Meta as Global Head of WhatsApp, taking on the challenge of unlocking the messaging app’s full potential. Meta will hold a minority stake in CRED with no access to member data.
CRED’s Impressive Growth Story Under Kunal Shah
Founded to reward timely credit card bill payments, CRED expanded rapidly into multiple financial services. Under Shah’s leadership, it secured full regulatory licences, built a strong team culture, and delivered consistent value to users while navigating the competitive Indian fintech landscape. The move comes as CRED prepares for its next growth phase with a seasoned leadership team in place.
WhatsApp’s Next Chapter With Kunal Shah
Shah expressed excitement about working with Meta’s leadership to evolve WhatsApp, which billions rely on daily. This appointment brings an Indian founder with deep fintech and consumer expertise to one of the world’s most used communication platforms. Air India CEO Race: Nipun Aggarwal and Vinod Kannan Emerge As Frontrunners To Replace Campbell Wilson.
The development highlights the growing influence of Indian talent in global technology leadership roles and the maturing synergies between Indian fintech and international tech giants. Industry observers see it as a significant milestone for both CRED’s stability and WhatsApp’s future innovation roadmap.
(The above story first appeared on LatestLY on Jun 22, 2026 07:19 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
