MrBeast Scales Financial Wellness by Acquiring FinTech Step
MrBeast is deepening his involvement in the financial services sector.
Beast Industries, a creator-based platform founded and led by the YouTube creator and entrepreneur, whose real name is Jimmy Donaldson, announced in a Monday (Feb. 9) press release that it acquired FinTech company Step, which is focused on financial literacy and money management.
Donaldson also announced the acquisition of the financial services app in a Monday post on X.
“Nobody taught me about investing, building credit or managing money when I was growing up,” Donaldson said in the post. “That’s exactly why we’re joining forces with Step! I want to give millions of young people the financial foundation I never had.”
According to the press release, the combined organization will bring together Step’s technology platform and FinTech team with Beast Industries’ audience reach and experience in philanthropic initiatives to help people achieve financial wellness.
“Financial health is fundamental to overall wellbeing, yet too many people lack access to the tools and knowledge they need to build financial security,” Beast Industries CEO Jeff Housenbold said in the release. “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’s offerings have more than 7 million users, according to the release. These offerings and Step’s team will accelerate Beast Industries’ ability to deliver financial wellness solutions across its platform, per the release.
Step CEO and Founder CJ MacDonald said in the release that Step has always aimed to “improve the financial future of the next generation” and that there are many synergies between the company and Beast Industries.
“We’re excited about how this acquisition is going to amplify our platform and bring more groundbreaking products to Step customers,” MacDonald said.
Donaldson filed an application to trademark “MrBeast Financial” in October. Filed with the U.S. Patent and Trademark Office, the application seeks the trademark for a mobile app, online banking services and software-as-a-service services, each of which includes a range of financial services.
In 2024, Donaldson partnered with MoneyLion on a competition series on Prime Video called “Beast Games.”
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