New Delhi, June 22 -- Meta Platforms Inc. has appointed Cred founder Kunal Shah to lead WhatsApp as part of its Rs.8,550 crore ($900 million) investment in the Indian fintech startup, according to an official announcement.

The investment gives Meta an approximately 20% stake in Cred, which operates an app that is known for rewarding users who pay their credit card bills on time. The deal values the company at roughly Rs.42,600 crore ($4.5 billion) on a post-money basis, the press release stated.

Shah will replace the current boss of WhatsApp, Will Cathcart, who has been running the popular messaging service for roughly seven years.

"While it's come very far, the delta between WhatsApp today and its full potential is massive. I look for...