Trilegal has advised Dreamplug Technologies (CRED) and Kunal Shah (founder of CRED) in connection with CRED’s Series H fundraising of approximately INR 8,550 crore from Meta, comprising a combination of primary subscription and secondary acquisition of shares from existing shareholders.
“CRED will raise this round at a post-money valuation of INR 43,239 crore and a pre-money valuation of INR 38,819 crore. Under the terms of the investment, Meta will join the CRED cap table as a minority investor and will not receive access to CRED customer information,” CRED noted in a release.
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.
The investment is described as a minority stake, with Meta ending up with roughly 20 percent ownership in CRED post‑transaction.
The Trilegal corporate practice team advising on the matter was led by partners Amit Khansaheb and Nikhil Sachdeva, and consisted of counsel Narayan Gupta, senior associates Sindhujaa Nayak and C.N. Yashwanth and associate Sidharth Sankar Pattnaik.
The Trilegal competition law practice team advising on the matter was led by partner Aparna Mehra and supported by counsel Kshitij Sharma and senior associate Karan Arora.
