MR BEAST BUYS YOUTH-FOCUSED BANK APP STEP

Photo Credit; Getty Images
Jimmy Donaldson, the world’s most-subscribed YouTuber famously known as MrBeast, has acquired fintech app Step, marking Beast Industries’ entry into financial services. Step — an all-in-one money app aimed at teens and young adults for managing cash, building credit and accessing financial tools — will now operate under Donaldson’s company as it targets a younger user base.
“Nobody taught me about investing, building credit, or managing money when I was growing up. That’s exactly why we’re joining forces with Step,” MrBeast told his millions of fans on Monday. “I want to give millions of young people the financial foundation I never had. Lots to share soon.”
Beast Industries did not disclose how much it paid for Step.
Beast Industries has been fundraising over the past year, including a recent $200 million investment from Bitmine Immersion Technologies, the largest corporate holder of the cryptocurrency Ether and chaired by Fundstrat’s Tom Lee.
Step is backed by fintech giant Stripe, as well as venture capital firms such as Coatue, Collaborative Fund, Crosslink Capital and General Catalyst.
The newly acquired Step was founded in 2018 by fintech veterans CJ MacDonald and Alexey Kalinichenko, with a mission of providing the next generation with tools for financial literacy.



