From CRED to WhatsApp: Kunal Shah reflects on his journey to becoming WhatsApp's global CEO

As he prepares to take over as the new global head of WhatsApp, Cred founder Kunal Shah took to X to reflect on his entrepreneurial journey and career milestones. The post came shortly after Meta announced a $900 million (around Rs 8,550 crore) investment in the Indian fintech startup, a deal that will also see Shah transition to a leadership role within the social media giant.

In the post, Shah highlights how, after exiting FreeCharge, he began questioning why trust could not be rewarded. Motivated by that idea, he invested $1 million of his own capital to launch Cred, a platform designed to reward users for paying their credit card bills on time.

He also reflected on several key milestones in Cred's journey, including conducting four ESOP buybacks, securing a full stack of regulatory licenses, and scaling the business from zero to $325 million (around Rs 3,250 crore) in annual revenue. According to Shah, the company now operates across payments, lending, insurance, commerce, wealth management, and credit cards.

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Shah further addressed his transition away from Cred's day-to-day operations, confirming that Miten Sampat would take over leadership of the company. He said that while he was stepping away from an operating role, he would continue to remain a shareholder in the fintech startup.

"My commitment doesn't change, just the role," Shah wrote.

He also confirmed that he would be joining Meta to lead WhatsApp globally. Clarifying the nature of Meta's investment in Cred, Shah noted that the social media giant would remain a minority investor and would not have access to member data.

Looking ahead, Shah said he was excited about the opportunity to work alongside Mark Zuckerberg, Chris Cox, and the broader leadership team at Meta as WhatsApp enters its next phase of growth.

Cred, the credit-card rewards platform with 17 million monthly users, raised $75 million from GIC last year. Meta's investment will include both new capital and the purchase of shares from existing investors.