Jimmy Donaldson, known as MrBeast, acquires Step, a financial services app, to expand into fintech. Step offers money management for teens and young adults. Beast Industries, Donaldson’s company, aims to provide financial education to the younger generation. The acquisition price remains undisclosed.

Beast Industries secures funds, including a $200 million investment from Bitmine Immersion Technologies. Step, backed by Stripe and various venture capital firms, was founded in 2018 by fintech veterans. Step offers banking services through a partnership with Evolve Bank & Trust, and a Step Visa Card.

Step’s 7 million users, technology platform, and fintech team will complement Beast Industries’ digital audience. The acquisition aligns with Beast Industries’ mission to provide practical financial solutions. Beast Industries also runs Feastables snack brand, Beast Philanthropy non-profit, and Beast Games reality competition on Amazon Prime Video.

Read more at CNBC: YouTube star MrBeast buys youth-focused financial services app Step