CRED founder Kunal Shah has announced that he is stepping away from his operational role as CEO, with Miten Sampat taking over as Interim CEO to lead the company’s next phase of growth. Shah will continue to remain involved with the company as a shareholder.

Shah expressed gratitude to CRED’s members, partners, regulators, investors, and board members for their continued support in building the company. He also encouraged the CRED team to continue pushing boundaries and strive to become a “10x version” of themselves.

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In a major career move, Shah announced that he will be joining Meta to lead WhatsApp globally. He said the messaging platform has significant untapped potential and that he looks forward to working with Meta CEO Mark Zuckerberg, Chief Product Officer Chris Cox, and the broader leadership team.

As part of the transition, Meta will become a minority investor in CRED. Shah clarified that Meta will have no access to CRED members’ data, addressing potential concerns around data privacy.

The leadership changes mark a significant milestone for both CRED and Meta, as the fintech company enters a new growth phase and WhatsApp prepares for its next chapter under Shah’s leadership.

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