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Anushka Dutta

Meta Platforms Just Took a 20% Stake in Cred. What That Means for META Stock.

Meta Cred WhatsApp fintech

Social media giant Meta Platforms (META) recently acquired a 20% stake in Indian fintech firm Cred, investing $900 million, which now values it at $4.50 billion. Cred, launched in 2018, operates an app that commands 17 million monthly users and offers benefits to those who stay current on credit card payments. It also provides users with tools to monitor their spending habits.

However, the news has focused on Meta appointing Cred’s founder, Kunal Shah, as the new head of the messaging platform WhatsApp. Current WhatsApp CEO Will Cathcart is being moved to a new AI-focused role. Meta has used this strategy before, when it tied an approximately $14 billion investment in Scale AI to the recruitment of founder Alexandr Wang to its AI lab.

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