Meta has announced a major leadership change at WhatsApp, with Will Cathcart stepping down after seven years of leading the world"s largest messaging platform. CRED CEO and founder Kunal Shah will take over as the next global head of WhatsApp. CRED is an Indian fintech company focused on creditworthy consumers. As part of the transition, Meta is also making a minority investment in CRED through its Series H funding round.
Meta CEO Mark Zuckerberg said Will Cathcart will remain at Meta and move into a new role focused on building new products from the ground up. Cathcart led WhatsApp during a major growth phase, helping the app reach more than 3 billion users worldwide. He also played a key role in expanding WhatsApp’s business offerings while keeping privacy and end-to-end encryption central to the product.
Meta’s Chief Product Officer, Chris Cox, said Kunal Shah was selected after a search for a leader who understands WhatsApp’s global scale and future potential. In a leaked internal memo, Cox described Shah as a “serial founder” and one of India’s most respected entrepreneurs, adding that he brings “entrepreneurial energy” and a strong product mindset to the role.
As part of the Series H funding round, CRED is raising ₹8,550 crore, or about $900 million, in a round led by Meta. The funding values CRED at ₹43,239 crore, or about $4.5 billion, on a post-money basis. It is important to note that this investment will not give Meta access to CRED customer information.
Kunal posted the following on X regarding his new role at Meta:
It’s been a minute.
— Kunal Shah (@kunalb11) June 22, 2026
2015–2018
- Exited FreeCharge. Spent time learning and investing.
- Pondered about: Why can"t trust be rewarded? Started with $1M of personal capital.
- Launched CRED to reward people for paying credit card bills on time.
2019–2025
- Built a system run by a…
Although Kunal Shah will be stepping away from his operating role as CRED CEO, he will retain his personal shareholding in the company.