Beast Industries has announced the acquisition of Step, a financial technology firm focused on financial literacy and money management.
The deal brings Step’s fintech platform and engineering team under the same umbrella as the creator-led business founded by YouTube star MrBeast, whose real name is Jimmy Donaldson. The companies said the acquisition is aimed at expanding access to financial wellness tools and education for younger audiences.
Jeff Housenbold, CEO of Beast Industries, said the move is designed to meet consumers “where they are” with new products built around financial health.
What the acquisition means for Step and Beast Industries
“Financial health is fundamental to overall wellbeing, yet too many people lack access to the tools and knowledge they need to build financial security,” Housenbold 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.”
Step reported more than seven million users before the deal and has attracted celebrity investors, including NBA star Stephen Curry, TikTok personality Charli D’Amelio, singer Justin Timberlake, actor Will Smith, and electronic duo The Chainsmokers.
MrBeast shared the news in a post on X, saying he wants to give “millions of young people the financial foundation I never had.”
“I’m so excited to share that we are acquiring the financial services app, Step,” he said. “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.”
CJ MacDonald, Step’s CEO and co-founder, said the partnership would allow the company to scale its offerings and reach new users through Beast Industries’ audience.
“Our goal has always been to improve the financial future of the next generation,” MacDonald said. “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.”
Beast Industries said the acquisition aligns with its broader strategy of pairing creator-driven reach with consumer products and services, alongside its philanthropic programs and branded ventures such as Feastables.
Step was founded by CJ MacDonald and Alexey Kalinichenko and is backed by investors including Coatue, Collaborative Fund, Crosslink Capital, General Catalyst, and Stripe. Its banking services are powered by Evolve Bank & Trust, with deposits insured up to $1,000,000.
