Meta invested $900 million in Indian fintech company Cred.

On June 22nd, local time, it was reported that Meta Platforms, the parent company of Facebook, invested $900 million in the Indian financial technology startup Cred. In addition, Meta also appointed Kunal Shah, the founder of Cred, as the new head of WhatsApp. The investment will give Meta approximately 20% stake in Cred. Cred is currently valued at $4.5 billion post-investment.