YouTube giant Jimmy, also known as MrBeast, is entering the financial industry by acquiring a free financial app for teenagers.
His company, Beast Industries, now owns Step, a popular mobile banking app built for teenagers and young adults.
Taking to X (formerly known as Twitter), Beast wrote: “I’m so excited to share that we’re acquiring the financial services app, Step.”
“No one taught me about investing, building credit, or managing money growing up. That’s exactly why we’re joining Step! I want to give millions of young people the financial foundation I never had,” he added.
Step is a financial technology (fintech) company that offers mobile banking services to specifically cater to teenagers and young adults.
The mission of the app is to introduce healthy financial habits, establish credit and provide knowledge about money management.
Step offers:
- Step Visa card
- High yield savings
- Cashback Rewards
- Early access to payslips
- “Step Up” loan
- Investment platform
The acquisition is strategic as it helps tap into MrBeast’s massive Gen Z fan base by combining Step’s financial technology with his unparalleled influence and reach.
The CEOs of both companies praised the acquisition, noting its enormous potential to increase financial literacy on a massive scale.
