Cred interim CEO Miten Sampat has dismissed speculation that Meta’s $900 million investment in the fintech company will lead to integration with WhatsApp, saying the social media giant is participating solely as a financial investor while Cred remains focused on scaling its financial services business, as per a Moneycontrol report.
The comments come days after Meta confirmed its investment in Cred and announced the appointment of founder Kunal Shah as Global Head of WhatsApp, one of the most prominent leadership moves involving an Indian startup founder.
Addressing questions around the transaction, Sampat said there are no plans to combine Cred’s services with WhatsApp or share user data as part of the investment.
He added that the deal strengthens Cred’s balance sheet, with nearly half of the investment expected to remain within the company to support future expansion while also providing liquidity to existing investors and employees through an upcoming employee stock ownership plan (ESOP) buyback.
Sampat also rejected suggestions that the transaction was effectively an acqui-hire designed to bring Shah into Meta.
According to him, Cred entered the deal from a position of financial strength, having recently reported its first profitable quarter and accumulated substantial cash reserves. The company, he said, would have continued executing its growth plans even without the fresh capital.
Following Shah’s transition, Sampat has taken charge as interim CEO. He said the company would continue to build on the culture and long-term vision established by its founder, adding that Cred’s leadership team remains stable and experienced.
‘Our focus is execution,’ Sampat indicated, pointing to priorities that include expanding the company’s credit card offerings, increasing the use of artificial intelligence across products and strengthening Cred’s growing portfolio of financial applications.
Beyond its flagship platform, Cred has been building a broader ecosystem that includes products such as Kuvera and Cash by Cred. Sampat said the company will continue experimenting with a multi-app approach to serve different customer needs while maintaining its focus on affluent users.
He also confirmed that Cred’s premium positioning will remain unchanged, with the company continuing to target high-creditworthy customers even as its monthly active user base grows.
On future expansion, Sampat said the company is not planning an aggressive acquisition strategy despite the fresh capital infusion. Instead, the emphasis will remain on executing its existing roadmap and investing in areas that can drive sustainable long-term growth.
