YouTuber Mr Beast is delving into fintech by buying a consumer banking app geared at teens.
His company, Beast Industries, is acquiring Step, an all-in-one money app for teens and young adults to manage money, build credit and access financial tools.
While it is not a bank, Step has partnered with banking services in the past.
“Nobody taught me about investing, building credit, or managing money when I was growing up,” Mr Beast posted to X.
“That's exactly why we’re joining forces with Step! I want to give millions of young people the financial foundation I never had.”
In a media release, Beast Industries said Step’s missions and 7 million users would complement its large digital audience and philanthropic initiatives.
"Financial health is fundamental to overall wellbeing, yet too many people lack access to the tools and knowledge they need to build financial security," Jeff Housenbold, CEO of Beast Industries, said.
"This acquisition positions us to meet our audiences where they are, with practical, technology-driven solutions that can transform their financial futures for the better."
It has not been disclosed how much Beast Industries paid for Step.
In 2022, Step said it had raised US$500 million in equity and debt from institutional investors, including General Catalyst, companies such as Stripe, and individuals like TikTok influencer Charli D'Amelio.
Beast Industries is currently worth $5 billion after its latest round of funding and has been looking for new avenues to make money aside from media, including the possibility of launching a mobile phone service down the road.
Mr Beast’s company has also been fundraising over the past year, including a $200 million investment from Bitmine Immersion Technologies in January.
Other Beat Industries ventures include its snack brand Feastables, its non-profit arm Beast Philanthropy and its reality competition series on Amazon, the Beast Games.
As of early 2026, the Mr Beast YouTube channel also had over 450 million subscribers and 5 billion monthly views.
