Beast Industries, founded by Youtube star MrBeast, is acquiring teen-focused banking app Step, signaling its biggest move yet into financial services and hinting at longer-term ambitions that may include crypto.
Teen Banking App Step Acquired by Beast Industries
Beast Industries, the entertainment and consumer brand company founded by Youtuber Jimmy “MrBeast” Donaldson, has agreed to acquire Step, a mobile banking platform designed for teenagers and young adults. The deal marks the company’s most direct entry into financial services so far, though the purchase price was not disclosed.
Donaldson said in an X post that the acquisition is driven by a desire to help young people develop healthy financial habits early in life. Beast Industries CEO Jeff Housenbold echoed that view, stating that access to financial tools and education is critical to long-term well-being, yet remains out of reach for many.
Step offers mobile-based banking products tailored to younger users and operates with FDIC insurance through its banking partner, Evolve Bank & Trust, which insures deposits up to $250,000. The banking platform has positioned itself as an on-ramp to responsible money management for teens and young adults.
The move follows growing signs of MrBeast’s interest in finance, with an earlier $200 million investment from Bitmine Immersion Technologies in January. Founded as a fintech startup, Step has raised approximately $491 million across six funding rounds, according to Crunchbase.
Read more: Bitmine Backs MrBeast’s Beast Industries With $200 Million Investment
With more than 466 million subscribers across his YouTube channels, Donaldson now adds a regulated financial platform to a portfolio that already includes consumer brands like Feastables. The acquisition positions Beast Industries at the intersection of youth culture, financial education, and potentially crypto-driven services in the future.
FAQ 💳
- What did Beast Industries acquire?
A teen-focused mobile banking app called Step.
Step partners with FDIC-insured Evolve Bank & Trust to meet regulatory requirements.
- Does this involve crypto right now?
Not directly, but past filings suggest future crypto plans.
- Why is this deal significant?
It’s MrBeast’s largest and clearest move into financial services.
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