Trilegal has advised fintech company CRED and its founder, Kunal Shah, on CRED’s USD 900 million (approximately INR 8,550 crore) Series H fundraising led by Meta. The transaction comprises a combination of a primary investment in the company and the secondary acquisition of shares from existing shareholders.
As part of the transaction, Kunal Shah will step away from the day-to-day management and operations of CRED while continuing as a minority shareholder. He will join Meta in a global leadership role, where he is set to lead WhatsApp.
Trilegal acted as legal counsel to CRED and Kunal Shah throughout all stages of the transaction. The firm’s mandate included advising on the transaction structure, negotiating and drafting the definitive agreements, addressing regulatory considerations relating to the CRED Group, advising on founder transition arrangements, satisfying conditions precedent, and completing the transaction.
The Corporate Practice team advising on the matter was led by Partners Amit Khansaheb and Nikhil Sachdeva, with support from Counsel Narayan Gupta, Senior Associates Sindhujaa Nayak and C.N. Yashwanth, and Associate Sidharth Sankar Pattnaik.
The Competition Law aspects of the transaction were handled by Partner Aparna Mehra, assisted by Counsel Kshitij Sharma and Senior Associate Karan Arora.
The transaction marks one of the most significant private capital investments in India’s fintech sector and coincides with a notable leadership transition, with CRED’s founder moving to a senior global role at Meta while retaining a minority stake in the company.
Commenting on the transaction, the Trilegal team stated that the mandate involved complex corporate, regulatory, and competition law considerations, reflecting the scale and strategic significance of the investment. The transaction further underscores the continued interest of global technology companies in India’s rapidly evolving fintech ecosystem.
