World's Biggest YouTuber MrBeast Acquires Teen Banking App 'Step'

World's Biggest YouTuber MrBeast Acquires Teen Banking App 'Step'

Beast Industries announced on Feb. 9 that it acquired Step, a financial technology company that provides services for money management and financial literacy aimed at younger users.

Jimmy Donaldson, the world-famous YouTube creator known as MrBeast and founder of Beast Industries, disclosed the transaction in a post on X that same day.

"I'm so excited to share that we are acquiring the financial services app, @step

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! I want to give millions of young people the financial foundation I never had. Lots to share soon :D" MrBeast wrote.

Screenshot of MrBeast’s post on X

Step offers a mobile app with features that include savings tools, spending accounts and credit-building products.

The company partners with Evolve Bank & Trust, an FDIC member, to deliver its banking services and is not itself a bank.

The acquisition brings Step's technology platform and team to Beast Industries, which maintains its headquarters in Greenville, North Carolina.

Banking app Step has more than 7 million users.

CJ MacDonald, founder and chief executive of Step, said in the announcement:

"We’re excited about how this acquisition is going to amplify our platform and bring more groundbreaking products to Step customers."

Beast Industries did not disclose the terms of the deal.