Meta is betting on India for WhatsApp’s next chapter, naming entrepreneur Kunal Shah to lead the messaging app and succeed Will Cathcart, who is stepping down after nearly seven years at the helm to take on a new product-building role at the company.

The move comes alongside a Meta-led $900 million financing for Indian fintech giant CRED, structured through a combination of primary and secondary share purchases. The deal will make Meta a minority investor in the CRED, which said Shah will step down as chief executive while retaining his personal shareholding.