MrBeast’s company buys Gen Z-focused fintech app Step

YouTube superstar MrBeast revealed on Monday that his company, Beast Industries, has acquired Step, a banking app designed specifically for teenagers and young adults.

Step, which has secured approximately $500 million in funding and grown its user base to more than 7 million, provides financial tools tailored to Gen Z. The platform helps young users establish credit, manage savings, and begin investing early. Over time, Step has drawn backing from high-profile names including Charli D’Amelio, Will Smith, The Chainsmokers, and Stephen Curry, along with major venture firms such as General Catalyst and Coatue, as well as payments company Stripe.

If Step aims to expand its reach among younger audiences, aligning with a cultural force like MrBeast is a strategic move. MrBeast, whose real name is Jimmy Donaldson, holds the title of the most-subscribed creator on YouTube, boasting more than 466 million subscribers. However, his ambitions extend well beyond viral challenge videos and large-scale productions.

“Nobody taught me about investing, building credit, or managing money when I was growing up,” said the 27-year-old. “I want to give millions of young people the financial foundation I never had.”

The acquisition aligns with previously surfaced plans. A leaked pitch deck from last year indicated that financial services were of interest to Beast Industries. Reports have also suggested the company is exploring launching a mobile virtual network operator (MVNO) offering a more affordable cellular plan, similar in concept to Ryan Reynolds’ Mint Mobile.

Like many leading digital creators, Beast Industries has built a business that extends beyond YouTube advertising revenue. A significant portion of the channel’s earnings is reinvested into content production. The company’s most profitable venture is its chocolate brand, Feastables, which, according to leaked documents cited by Bloomberg, generates more profit than both the MrBeast YouTube channel and the Prime Video series “Beast Games.” Other projects, including Lunchly and MrBeast Burger, have faced more mixed results.

“We’re excited about how this acquisition is going to amplify our platform and bring more groundbreaking products to Step customers,” said Step founder and CEO CJ MacDonald in an official statement.