Fintech & Startups · Daily brief
Meta's $900 million investment in CRED comes with a leadership change: finance and strategy operator Miten Sampat steps in as interim CEO ahead of a planned IPO.
Meta has invested $900 million in CRED, and Kunal Shah, the fintech's founder and public face, is moving to lead WhatsApp globally. In his place, CRED's board has appointed Miten Sampat as interim CEO.
Sampat has led CRED's Strategy and Finance functions since 2020, working behind the scenes while Shah handled the company's external and philosophical positioning.
Before joining CRED, Sampat was Chief Strategy Officer at Times Internet, where he managed large digital investments and scaled product ecosystems across India. He began his career as an engineer in Silicon Valley and is now an active angel investor in AI, fintech, and logistics startups.
CRED is described as moving toward a public listing. The board's rationale for picking Sampat centers on the need for a finance and strategy operator who can tighten unit economics as the company pursues an IPO, rather than another visionary founder.
Sources
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