Trilegal Advises CRED on Meta's USD 900 million investment
Trilegal advised Dreamplug Technologies Private Limited (CRED) and Kunal Shah, founder of CRED.
Trilegal advised Dreamplug Technologies Private Limited (CRED) and Kunal Shah (founder of CRED) in connection with CRED’s Series H fundraising of USD 900 million (approximately INR 8,550 crore) 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 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 Trilegal Corporate Practice team advising on the matter was led by Partners: Amit Khansaheb and Nikhil Sachdeva; and comprised 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.