MrBeast just bought a banking app

Beast Industries, owned by YouTuber Jimmy “MrBeast” Donaldson, announced connected Monday that it has acquired Step, a banking app designed for teens and young adults. The move comes a mates of months aft Donaldson announced plans to commencement a caller YouTube channel centered connected individual finance and investing. His main channel has 466 cardinal subscribers and has agelong been 1 of the astir celebrated connected YouTube, often featuring videos wherever Donaldson gives distant immense sums of money.

MrBeast’s different business ventures besides see a concatenation of shade restaurants, the Feastables snack brand, and an upcoming telephone work institution called Beast Mobile. This is his company’s first dip into financial services.

Step is 1 of galore mobile-only banking services, akin to Monzo aliases Revolut, but specifically aimed astatine teens, which whitethorn explicate why Donaldson chose it complete its rivals — his assemblage is chiefly Gen-Z and Gen Alpha. Step’s investors besides see Gen-Z influencers Josh Richards and Charli D’Amelio, the second of whom has appeared connected MrBeast’s YouTube channel.