Cred founder Kunal Shah will replace Will Cathcart as the global CEO of WhatsApp, marking an unprecedented move by an Indian startup founder into a global technology leadership role.
The development is part of WhatsApp parent Meta’s Rs 8,550 crore ($900 million) funding round in the Indian fintech firm, as it looks to increasingly embed payments and commerce in the messaging platform.
The appointment puts Shah at the helm of a globally dominant messaging platform that has around 500 million users in India and around 3 billion subscribers worldwide.
The funding comprises about $400 million in the secondary sale of shares by existing shareholders, while the remaining $500 million will be ploughed into the company.
