Meta has named Kunal Shah, founder of the Indian fintech firm CRED, as the new global head of WhatsApp, replacing Will Cathcart after a seven-year tenure that saw the encrypted messaging service surpass 3 billion users. The leadership change, announced on 22 June 2026, is coupled with a $900 million investment by Meta into CRED, giving the social-media giant an estimated 20 per cent minority stake and valuing the Bengaluru-based startup at approximately $4.5 billion. Cathcart will remain within Meta, shifting to a role focused on building new artificial-intelligence products.

Shah, 47, built CRED from a credit-card bill-payment rewards app into a broad financial-services platform offering lending, insurance, wealth management and payments to 17 million monthly users. His appointment places a fintech entrepreneur at the helm of a messaging application that, particularly in India—its largest market with over 500 million users—is increasingly a conduit for business messaging and digital transactions. Viewed from New Delhi, the move consolidates Meta’s bet on India as both a user base and a laboratory for commerce-driven revenue models beyond advertising.

The investment and leadership reshuffle unfold as Meta accelerates efforts to diversify income streams. The company recently began rolling out WhatsApp Plus, an optional paid subscription offering customisation features such as exclusive stickers, themes and expanded chat-pinning, with a one-month free trial and a monthly fee of roughly $1.70 in markets like Indonesia. Simultaneously, Meta informed advertisers that from 1 July 2026 it will apply location-based fees on ads delivered in Austria, France, Italy, Spain, Türkiye and the United Kingdom, to offset digital-services taxes and local regulatory costs.

Shah stated that Meta’s investment in CRED is a minority stake with “no access to member data,” and that he will step back from day-to-day operations at the fintech, where strategy and finance head Miten Sampat becomes interim CEO. The incoming WhatsApp chief described the gap between the platform’s current state and its full potential as “massive,” signalling an intent to deepen the integration of payments, AI-driven features and business tools. The next factual milestone is Shah’s relocation to Meta’s Menlo Park headquarters and the continued phased expansion of WhatsApp Plus, while CRED enters its next growth phase under new operational leadership.