Beast Industries buys Step in fintech for Gen Z push

Beast Industries has acquired financial technology company Step, adding financial services to its creator-led platform and expanding beyond entertainment and consumer products.

The deal brings Step's technology platform and fintech team into Beast Industries. Step operates consumer-facing financial products and tools focused on money management and financial literacy.

Beast Industries is built around the audience of YouTube creator Jimmy Donaldson, known as MrBeast. It also runs consumer products and food brands, including the snack brand Feastables, and carries out large-scale charitable work through Beast Philanthropy and campaign initiatives such as #TeamTrees, #TeamSeas and #TeamWater.

Step reports more than 7 million users and markets itself as making financial literacy and money management more accessible, particularly for younger customers.

"Financial health is fundamental to overall wellbeing, yet too many people lack access to the tools and knowledge they need to build financial security," said Jeff Housenbold, CEO of Beast Industries. "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."

Step platform

Step was founded by CJ MacDonald and Alexey Kalinichenko. The company says the founding team has more than 50 years of combined fintech experience, with backgrounds at First Data, Google, Gyft and Block.

Its products use a bank-partnership model, with financial products powered by Evolve Bank & Trust, a US bank. Step also says accounts are insured up to $1,000,000.

Step has attracted high-profile investors from sport and entertainment, including Stephen Curry, Charli D'Amelio, Justin Timberlake, Will Smith and The Chainsmokers. Institutional backers include Coatue, Collaborative Fund, Crosslink Capital, General Catalyst and Stripe.

Creator commerce

The acquisition reflects a wider push by creator-led businesses to diversify revenue streams and build direct relationships with audiences. Many creators have expanded into merchandise, food brands and subscription products. Financial services is less common, given regulatory complexity and higher expectations around risk management, customer support and data security.

Step's existing infrastructure gives Beast Industries an entry point into that market, along with an operational team experienced in payments and banking-style products.

For Beast Industries, the deal extends a business that already blends content distribution with consumer product sales and philanthropy. MrBeast has built one of the world's largest online audiences, with more than 450 million YouTube subscribers and billions of monthly views across channels, according to the company.

Beast Industries has built its brand around entertainment formats that drive high engagement and large-scale giveaways. It has also run charitable campaigns tied to environmental and humanitarian causes, raising funds for tree planting, ocean clean-up and water-access projects.

Financial literacy

Both companies framed the tie-up around financial well-being and education. Step's products include tools and resources linked to financial literacy, and the company says it works with customers on establishing and building credit scores.

"Our goal has always been to improve the financial future of the next generation," said CJ MacDonald, CEO and founder of Step. "There are a lot of synergies between Step and what Jimmy, Jeff and the team at Beast Industries believe in when it comes to helping people and giving back. We're excited about how this acquisition is going to amplify our platform and bring more groundbreaking products to Step customers."

The combined organisation said it will focus on addressing financial literacy gaps through product development and philanthropic initiatives, with Step continuing as the financial services offering within Beast Industries' broader portfolio.