Fintech unicorn CRED has raised $900 Mn (about ₹8,500 Cr) in a fresh funding round from Meta
The investment comprises both primary and secondary capital, making it one of the largest investments by the social media giant in an Indian startup
Earlier last week, Meta and CRED were said to be evaluating the deal which pegged the latter at $4 Bn
Fintech unicorn CRED has raised $900 Mn (about ₹8,550 Cr) in a Series H funding round led by Meta.
The investment comprises both primary and secondary capital, making it one of the largest investments by the social media giant in an Indian startup. This is also the largest funding round raised by an Indian startup this year.
The funding round values CRED at a post-money valuation of ₹43,239 Cr (about $4.5 Bn) and a pre-money valuation of ₹38,819 Cr (about $4.03 Bn). As part of the transaction, Meta will join CRED’s cap table as a minority investor.
With the Series H round, the fintech major is now eyeing to go public. As per its statement,the startup’s board and leaders are in the process of constituting the right leadership structure towards eventual IPO.
The fresh capital will help CRED accelerate growth across its businesses and strengthen its leadership position in financial services. The startup said the funding will be used to build institutional capabilities and expand its presence across categories.
The fintech unicorn last raised ₹617 Cr from GIC affiliate Lathe Investment in 2025 at a $3.5 Bn valuation, nearly 45% lower than its $6.4 Bn valuation in 2022.
On the financial front, CRED’s operating revenue rose 16% YoY to ₹2,735 Cr in FY25, while total losses narrowed 11.5% to ₹1,457 Cr. The startup is yet to file its FY26 financial statements with the MCA.
However, Shah said that annual revenue crossed ₹3,200 Cr, without disclosing the period.
Kunal Shah Steps Down
Alongside the investment, Shah also announced that he would be stepping down from his operating role as CEO. CRED’s strategy and finance head Miten Sampat will be taking over as its interim CEO.
While he will continue to retain his personal shareholding at CRED, he will now helm Meta’s messaging platform globally.
“While it’s come very far, the delta between WhatsApp today and its full potential is massive. I look forward to working with Mark, Chris, and the leadership across Meta for the next step in WhatsApp’s journey,” Shah wrote in a LinkedIn post.
In parallel to Shah joining Meta, WhatsApp head Will Cathcart, who has been leading WhatsApp over the last seven years, will transition to a new role within Meta. Meta CEO Mark Zuckerberg said that Cathcart would be transitioning to a new role within Meta where he’ll build new products from the ground-up.
“Kunal built CRED into one of India’s most important technology companies, and he brings the kind of builder mentality and global perspective that will serve him well in running the world’s biggest messaging app. I look forward to working with Kunal to continue to make WhatsApp the best service for billions of people and millions of businesses,” Zuckerberg said.
Founded in 2018 by Shah, CRED claims to serve 17 Mn members and has expanded beyond credit card bill payments into lending, insurance, wealth management and commerce. The startup said it now processes more than 40% of all credit card bill payments in India and has built a lending business with over ₹24,000 Cr in assets under management for partner financial institutions.
“I started CRED in 2018 with a belief that creditworthiness deserves to be rewarded. In under eight years, that belief has turned into a new category: millions of members, ₹3,200 Cr ( $325Mn) in revenue, profitability, a full stack of licences and a strong brand,” Shah said.
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