Kunal Shah will join Meta's global leadership team while retaining his personal shareholding in Bengaluru-based CRED, according to a company statement. (Insta/Kunal Shah)Fintech platform CRED on Monday said it will raise Rs 8,550 crore (about $900 million) in a funding round led by Meta, a deal that will see founder Kunal Shah step down as chief executive officer and move to the social media giant to lead WhatsApp globally.Shah will join Meta’s global leadership team while retaining his personal shareholding in Bengaluru-based CRED, according to a company statement.Announcing the move on X, Shah said he would be joining Meta to lead WhatsApp and described the messaging platform’s future growth potential as significant. Meta CEO Mark Zuckerberg said Shah’s experience in building CRED into a major technology company would help him lead the world’s largest messaging service.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 Following the leadership transition, CRED’s strategy and finance head Miten Sampat has been appointed interim CEO with immediate effect.The company said the Series H funding round values CRED at a pre-money valuation of Rs 38,819 crore ($4.03 billion) and a post-money valuation of Rs 43,239 crore ($4.5 billion). Meta will become a minority investor and will not receive access to CRED customer data, it added.CRED said the fresh capital will be used to accelerate growth, strengthen institutional capabilities and expand its presence across categories.Founded in 2018, CRED said it has about 1.7 crore monthly active members and processes more than 40 per cent of India’s credit card bill payments. Its lending business has assets under management of around Rs 24,000 crore.