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.

The investment gives Meta a roughly 20% stake in Cred, which operates an app that rewards customers for paying their credit card bills on time. The company is now valued at $4.5 billion post-money, according to a press release.

Shah will replace the current head of WhatsApp, Will Cathcart, who has been running the popular messaging service for roughly seven years.(More to come)

Published by HT Digital Content Services with permission from MINT....