Meta has reportedly made one of its boldest bets on India by leading a massive $900 million funding round in CRED at a valuation of $4.5 billion. As part of the strategic move, CRED founder Kunal Shah is set to step down from day-to-day operations, with Mithun Sana taking over as interim CEO. Shah is expected to take on a global leadership role at WhatsApp, working closely with Meta CEO Mark Zuckerberg. The move highlights Meta's growing focus on payments, fintech and digital commerce, especially in India where WhatsApp Pay continues to face stiff competition from PhonePe and Google Pay.
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