Beast Industries, a multifaceted entertainment, consumer products, and CPG company founded by YouTube creator Jimmy Donaldson (MrBeast), has announced the acquisition of Step, a financial technology company dedicated to making financial literacy and money management accessible. This acquisition aims to deliver innovative solutions for financial wellness by combining Step’s technology platform and fintech team with Beast Industries’ extensive audience reach and philanthropic initiatives.
Jeff Housenbold, CEO of Beast Industries, stated that financial health is essential for overall wellbeing, and many individuals lack access to necessary tools and knowledge. He noted that this acquisition positions the company to provide practical, technology-driven solutions that can improve financial futures for its audience.
Step has developed a reputation for integrating intuitive technology with mission-driven values, aligning with Beast Industries’ commitment to positive impact. Its offerings include tools and resources for financial literacy education and assistance in establishing and building healthy credit scores. Step has attracted over 7 million users and garnered investments from notable figures such as Stephen Curry, Charli D’Amelio, Justin Timberlake, Will Smith, and The Chainsmokers. The company’s experienced team will enhance Beast Industries’ capacity to offer comprehensive financial wellness solutions.
CJ MacDonald, CEO and Founder of Step, commented that the company’s objective has consistently been to improve the financial future of the next generation. He highlighted the synergies between Step’s mission and Beast Industries’ focus on helping people and giving back, expressing enthusiasm for how the acquisition will amplify their platform and introduce new products to Step customers.
Founded by financial industry veterans CJ MacDonald and Alexey Kalinichenko, Step was established to provide modern banking tools and promote financial literacy for future generations. The founding team collectively brings over 50 years of financial technology experience from companies including First Data, Google, Gyft, and Block. Step is supported by investors such as Coatue, Collaborative Fund, Crosslink Capital, General Catalyst, and Stripe. Its financial products are powered by Evolve Bank & Trust, a Member FDIC insured up to $1,000,000.
Beast Industries, based in Greenville, N.
C., is led by Jimmy Donaldson, known as MrBeast. It operates one of the most-subscribed YouTube channels globally, with over 450 million subscribers and more than 5 billion monthly views across all channels. Recognized as the top creator on Forbes’ Top Creators List in 2023 and featured on the TIME 100 lists, Donaldson has built Beast Industries into a platform encompassing content creation, competition formats, and fast-growing CPG ventures like the snack brand Feastables. The company also drives social impact through initiatives such as #TeamTrees, #TeamSeas, #TeamWater, and Beast Philanthropy, a 501(c)(3) nonprofit that has provided over 20 million free meals and funded critical infrastructure projects worldwide.
This partnership addresses financial wellness challenges and aims to support individuals and communities across various life stages. Beast Industries and Step plan to focus on bridging the financial literacy gap through innovation, technology, and philanthropic efforts.
