Meta’s $900M minority investment with no-access to customer data; Kunal Shah is stepping back and Miten Sampat steps in as interim CEO of CRED
FinTech BizNews Service
Mumbai, 22 June 2026: Kunal Shah, Founder, CRED, is joining Meta to lead WhatsApp globally. Meta comes in as a minority investor in CRED. But Meta will not get access to member data.
Kunal Shah revealed his new role and created a pleasant surprise through a post on his Linkedin handle.
Kunal Shah wrote on Linkedin:
“CRED is ready for its next phase. I am stepping back and Miten Sampat steps in as interim CEO, partnered with an incredibly talented team. He has been heading strategy and finance and suffering me since 2020. I’m stepping away from the operating role and will continue as a shareholder. My commitment doesn’t change. Just the role.
While it’s come very far, the delta between WhatsApp today and its full potential is massive. I look forward to working with Mark, Chris, and the leadership across Meta for the next step in WhatsApp’s journey.”
Miten Sampat, an engineer and an inventor, at Cred, wrote on Linkedin: “Meta’s $900M minority investment is a booster in our plans to build an enduring institution with an eventual public listing. Meta will be a passive financial investor with no-access to customer data.”
Miten’s linkedin post also stated: “In 2020 when I joined Kunal Shah at CRED, I was drawn to the incredible team and a contrarian idea – “not everyone gets it”
We had 1M members & $750M TPV, fast forward to 2026, CRED’s impact among India’s most creditworthy is clear, we now serve 17M members & process $100B in TPV. We’ve built with taste, always keeping our members' trust & financial progress as our north star.
This momentum is the outcome of ambition, craft, ownership and relentless standards of our team at CRED.
Kunal: thanks for being thankless and always 5x-ing each target.
proud to build the next phase of CRED with the best team in Indian fintech.”
