Beast Industries Acquires Gen Z Banking Platform Step in Strategic FinTech Expansion

09.02.2026

YouTube content creator MrBeast announced on Monday that his enterprise, Beast Industries, has acquired Step, a teen-focused digital banking platform. The acquisition marks a significant expansion of Beast Industries' portfolio into the financial services sector.

Step, which has successfully raised $500 million in funding and amassed a user base exceeding 7 million, provides financial services specifically designed for Gen Z consumers. The platform's core offerings include credit building tools, savings accounts, and investment opportunities tailored to younger demographics.

The fintech startup has attracted substantial backing from high-profile investors including Charli D'Amelio, Will Smith, The Chainsmokers, and Stephen Curry. Institutional investors include prominent venture capital firms such as General Catalyst, Coatue, and payment processing giant Stripe.

Jimmy Donaldson, known professionally as MrBeast, currently commands the largest subscriber base on YouTube with over 466 million subscribers. The twenty-seven-year-old entrepreneur stated his motivation for the acquisition: "Nobody taught me about investing, building credit, or managing money when I was growing up. I want to give millions of young people the financial foundation I never had."

This strategic move aligns with previously leaked documents from Beast Industries indicating the company's interest in expanding into financial services. The organization is also reportedly exploring the launch of a mobile virtual network operator (MVNO), a cost-effective cellular service similar to Ryan Reynolds' Mint Mobile.

Beast Industries' revenue model extends significantly beyond YouTube monetization, with the company reinvesting substantial ad revenue into content production. The enterprise's primary revenue generator is Feastables, a chocolate brand that reportedly outperforms both the MrBeast YouTube channel and the Prime Video series "Beast Games" in profitability, according to leaked financial documents.

While ventures such as Feastables have demonstrated strong performance, other initiatives including Lunchly and MrBeast Burger have faced operational challenges.

Step founder and CEO CJ MacDonald expressed enthusiasm regarding the acquisition: "We're excited about how this acquisition is going to amplify our platform and bring more groundbreaking products to Step customers."

Sources:
MrBeast Official Announcement
Business Wire Press Release
Bloomberg Financial Analysis
Consumer Reports on Lunchly