Meta allocates $900M in Indian firm
Meta announced a $900 million investment in the Indian fintech company CRED, which is valued at approximately $4.5 billion, aimed at supporting its expansion in the Indian market. This move led to the appointment of Kunal Shah, the founder of CRED, as the global head of WhatsApp. Meanwhile, WhatsApp continues to expand from a messaging service to offer payment services and digital commerce. CRED specializes in providing a variety of financial services and leverages funding to boost its growth and develop its administrative infrastructure.
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