MrBeast Enters Fintech With Acquisition of Gen Z-Focused Banking Giant Step

YouTube star MrBeast is taking a major step into financial services after announcing that his company, Beast Industries, will acquire Step, a fintech app built for teenagers and young adults.

Step has carved out a niche as a banking platform aimed squarely at Generation Z. The company has raised roughly $500 million from investors and now serves more than 7 million users. Its product suite is designed to help young customers establish credit histories, save money, and get early exposure to investing.

The startup has attracted a mix of celebrity and institutional backers. Investors include Charli D’Amelio, Will Smith, The Chainsmokers, and NBA champion Stephen Curry. 

Venture firms such as General Catalyst and Coatue have also participated in funding rounds, along with payments firm Stripe.

From Viral Videos to Financial Platforms

For Beast Industries, the acquisition signals a continued push beyond entertainment. 

MrBeast, whose real name is Jimmy Donaldson, has built the largest audience on YouTube, with more than 466 million subscribers across his channels. But his business strategy has increasingly focused on building consumer brands rather than relying solely on content revenue.

Donaldson said the move was driven in part by his own experiences growing up without much financial guidance.

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

The partnership also reflects a strong overlap between Step’s user base and MrBeast’s global audience, which is heavily concentrated among younger viewers. By combining the two, Beast Industries could gain a powerful distribution channel for financial products aimed at Gen Z.

Part of a Larger Business Vision

The deal appears to fit into a broader expansion strategy that has been taking shape inside Beast Industries. A leaked pitch document from last year suggested the company was exploring several ventures aimed at younger consumers, including financial services and telecommunications.

One of the ideas reportedly under consideration is a mobile virtual network operator, or MVNO, that would provide lower-cost phone plans. The concept would resemble the approach used by actor Ryan Reynolds with Mint Mobile, which built a large customer base by combining celebrity branding with competitive pricing.

Beast Industries has already transformed itself into a diversified consumer business. Although MrBeast’s YouTube channels generate massive viewership, much of the advertising revenue is reinvested into increasingly expensive video productions.

Leaked financial documents reported by Bloomberg indicate that the company’s chocolate brand, Feastables, has become its most profitable operation. The snack line is said to outperform both the main YouTube channel and the Prime Video series “Beast Games” in terms of earnings.

However, not every venture has been a success. Projects such as Lunchly and MrBeast Burger have faced operational setbacks and uneven reception.

Step Looks to Accelerate Growth

Step executives said the acquisition could open the door to new features and broader reach under Beast Industries’ ownership.

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