Meta appointed Kunal Shah, founder of Indian fintech startup Cred, as the new global head of WhatsApp, effective June 22. Shah replaces Will Cathcart, who stepped down after more than seven years leading the messaging platform.

Meta Chief Product Officer Chris Cox recruited Shah directly, reaching out in spring to seek advice on WhatsApp’s future direction. Cox had been calling entrepreneurs and investors across emerging markets—India, Brazil, Mexico—where WhatsApp dominates business communication.

That phone call became a job offer. Shah accepted, becoming one of the highest-profile fintech founders to move into big tech leadership. His background in payments and financial inclusion shapes how he’ll approach WhatsApp’s business expansion.

Cred, Shah’s original company, is a credit card payments platform that rewards users for paying bills on time. The platform operates across India and attracted significant venture funding. Meta itself is now investing $900 million into Cred as part of Shah’s appointment package.

That investment values Cred at $4.5 billion post-money. For Shah, it signals Meta’s commitment to emerging market growth. For Cred, it means access to Meta’s infrastructure and resources. WhatsApp’s two billion users represent an enormous distribution channel for financial services.

The move reflects strategic thinking at Meta. WhatsApp generates minimal revenue today but dominates markets where traditional banking reaches few people. Merging WhatsApp’s reach with financial services creates new business opportunities in India, Southeast Asia, and Africa.

Shah’s appointment also signals respect for non-US tech talent. While big tech leadership remains dominated by American executives, Shah’s appointment shows how startup success in emerging markets can lead to global roles.

Cathcart’s departure wasn’t contentious. He’s expected to remain with Meta in an advisory capacity. WhatsApp itself remains strategically important for the company’s global expansion ambitions.