Beast Industries Buys 'Step', Bringing Banking To 450 Million Subscribers
Beast Industries, the platform founded by YouTube creator Jimmy Donaldson (MrBeast), acquired fintech company Step to expand into financial services and bring banking capabilities to its global audience of over 450 million subscribers. The acquisition combines Step's technology platform and full-stack fintech team with Beast Industries' extensive reach and philanthropic track record to deliver financial wellness solutions across the platform's evolving offerings.
Step has attracted over 7 million users with tools that educate customers on financial literacy and help establish healthy credit scores, backed by notable investors including four-time NBA Champion Stephen Curry, Charli D'Amelio, Justin Timberlake, Will Smith and The Chainsmokers. Beast Industries CEO Jeff Housenbold said "financial health is fundamental to overall wellbeing, yet too many people lack access to the tools and knowledge they need to build financial security," positioning the acquisition to meet audiences with practical, technology-driven solutions.
Step CEO and Founder CJ MacDonald said the company's goal has always been "to improve the financial future of the next generation," noting synergies between Step and what Beast Industries believes in regarding helping people and giving back. Beast Industries spans groundbreaking content, record-breaking competition formats, CPG launches including Feastables, and large-scale social impact through initiatives like TeamTrees, TeamSeas and Beast Philanthropy, which has provided over 20 million free meals.
The partnership aims to close the financial literacy gap through innovation, technology and philanthropic initiatives, with Step's products powered by bank partner Evolve Bank & Trust, Member FDIC and insured up to $1 million.
Full story: Step