YouTube giant Jimmy, also known as MrBeast, is dipping his toe into finance by acquiring a free financial app for teens.
His company, Beast Industries, now owns Step, a popular mobile banking app created for teens and young adults.
On X (formerly known as Twitter), Beast wrote: “I’m very excited to share that we are acquiring the financial services app, Step.”
“No one taught me how to invest, build credit or manage money growing up. That’s exactly why we’re joining forces with Step! I want to give millions of young people the financial foundation they never had,” he added.
Step is a financial technology (fintech) company that offers mobile banking services to specifically serve teens and young adults.
The app’s mission is to introduce healthy financial habits, establish credit, and provide money management knowledge.
Step Offers:
- Visa Card Step
- High-yield savings
- Cashback Rewards
- Paycheck Early Access
- “Step Up” Loans
- Investment platform
The acquisition is strategic because it helps leverage MrBeast’s huge Gen Z fan base by combining Step’s financial technology with its unparalleled influence and reach.
CEOs of both companies praised the acquisition, noting its enormous potential to increase financial literacy on a large scale.
