PE-VC Fund Investments
Fintech unicorn CRED attracts $900-M from Meta; Kunal Shah named Whatsapp CEO
Bengaluru-based fintech unicorn CRED has attracted USD 900 million in a Series H funding round led by Meta (formerly Facebook) in return for a minority stake. The deal provides the company a post-money valuation of INR 43,239 crore. The deal includes a secondary component. The company will use the primary component to help accelerate growth, build institutional capabilities and expand its presence across new categories.Founded in 2018 by Kunal Shah, CRED provides a platform for credit card bill payments, lending, insurance, wealth management, and commerce. The company processes more than 40% of all credit card bill payments in India and maintains a lending business with over INR 24,000 crore in assets under management (AUM).Alongside the deal, Kunal Shah will join Meta’s messaging platform WhatsApp globally as the CEO. CRED’s current Strategy & Finance head Miten Sampat will serve as the interim CEO of the company.
Between Sep 2018 and Jun 2025, CRED had attracted about $ 913 M from DST Global, Ganesh Ventures, Morningside Ventures, Peak XV Partners, Rainmatter Capital, Ribbit Capital, RTP Global, Valiant Capital, VH Capital, Whiteboard Capital, Dragoneer Investment Group, General Catalyst Partners, Greenoaks Capital, Hillhouse Capital, Tiger Global, Coatue Management, Sofina, Alpha Wave Global, Insight Venture Partners, Marshall Wace, Steadfast Capital, Rise Capital, SF Roofdeck Capital, GIC and others.
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