Meta invested $900 million in CRED, taking a roughly 20% minority stake at a $4.5 billion post-money valuation.
Founder Kunal Shah will step down from operating CRED to become the global head of WhatsApp, tasked with driving monetisation for the 3-billion-user platform.
Miten Sampat takes over as interim CEO of CRED as the fintech prepares its long-term management structure ahead of an eventual IPO.
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