Trilegal, Cooley, AZB, Latham, SAM, CMS INDUSLAW act on CRED securing $900 million from Meta

Dreamplug Technologies Private Limited, dba CRED, has secured $900 million (approximately ₹8,550 crore) in a Series H fundraise from Meta, comprising a combination of primary subscription and secondary acquisition of shares from existing shareholders.

As part of the transaction, Kunal Shah, the founder of CRED, while continuing as a minority shareholder, will cease to be involved in the day-to-day management and operations of CRED. He will join Meta in a global leadership role to lead WhatsApp.

Trilegal advised CRED on this fundraise, as well as Kunal Shah on his transition. The Firm advised on all aspects of the transaction, including structuring, negotiation and documentation of the transaction documents, advising on the transition of Kunal Shah to Meta, regulatory considerations of CRED Group, satisfaction of conditions precedent, and closing of the transaction.

The transaction was led by Amit Khansaheb (Partner) and Nikhil Sachdeva (Partner), with support from Narayan Gupta (Counsel), Sindhujaa Nayak (Senior Associate), C.N. Yashwanth (Senior Associate) and Sidharth Sankar Pattnaik (Associate).

Aparna Mehra (Partner), with support from Kshitij Sharma (Counsel) and Karan Arora (Senior Associate) advised on Competition Law aspects.

Cooley LLP served as international legal counsel for CRED and Kunal Shah on this transaction.

The transaction was led by Rishab Kumar (Partner) and Grigor Lynch (Associate).

AZB & Partners advised Meta on this transaction.

The transaction was led by Nandish Vyas (Senior Partner), with support from Karun Jhangiani (Senior Associate), Anish Patel (Senior Associate), Associates Aditya Agarwal, Freya Irani and Shraddha Sethia.

Aditya Singh Chandel (Senior Partner), Shruti KP (Partner), Suhail Bansal (Senior Associate) and Akshat Jain (Senior Associate) advised on Tax law aspects.

Ram Kumar Poornachandran (Senior Partner), Dinoo Muthappa (Partner), Vayshnavi Ganesh (Senior Associate) and Anjali Kumar (Senior Associate) advised on anti-trust law aspects.

Latham & Watkins served as the international legal counsel for Meta on this transaction.

The transaction team consisted of Saad Khanani (Partner) and Jennifer Cadet (Counsel).

Shardul Amarchand Mangaldas & Co advised six investors on selling their stakes to Meta.

A transaction team led by Raghubir Menon (Partner, Regional Practice Head - M&A and Private Equity, General Corporate) and Anirban Bhattacharya (Partner), advised shareholders Peak XV Partners, Coatue, DST Global, Alpha Wave Global, and GIC.

A transaction team led by Puja Sondhi (Partner) and Manita Doshi (Partner) advised Tiger Global.

Yaman Verma (Partner) and Apurv Jain (Senior Associate) advised on anti-trust law aspects.

CMS INDUSLAW advised Ribbit Capital, another investor in CRED, on this transaction.

The transaction team consisted of Winnie Shekhar (Partner), Shantanu Singh (Partner) and Deepansh Goyal (Senior Associate).

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