"Step, which raised half a billion in funding and has grown to over 7 million users, offers financial services geared toward Gen Z to help them build credit, save money, and invest. The company has attracted celebrity investors like Charli D'Amelio, Will Smith, The Chainsmokers, and Stephen Curry, in addition to venture firms like General Catalyst, Coatue, and the payments company Stripe."
"If the company wants to continue getting its fintech product in front of young eyes, then partnering with Gen Z phenom MrBeast is wise. MrBeast, whose real name is Jimmy Donaldson, is the most-subscribed creator on YouTube, with over 466 million subscribers, but his ambitions stretch beyond his over-the-top videos. "Nobody taught me about investing, building credit, or managing money when I was growing up," the twenty-seven-year-old said. "I want to give millions of young people the financial foundation I never had.""
Beast Industries is buying Step, a teen-focused banking app that raised half a billion in funding and has grown to over 7 million users. Step provides Gen Z-oriented services to help build credit, save money, and invest, and has attracted celebrity investors as well as venture firms and Stripe. MrBeast (Jimmy Donaldson) is the most-subscribed YouTube creator with over 466 million subscribers and aims to give young people financial education and a foundation they lacked. Beast Industries has shown prior interest in fintech and an MVNO offering, and its most profitable business is the chocolate brand Feastables while YouTube revenue is often reinvested into content.
Read at TechCrunch
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