Beast Industries acquires Step, enters consumer FinTech

By Vriti Gothi

Beast Industries, a creator-led media and commerce platform, has acquired US-based financial technology company Step in a move that signals its formal expansion into consumer financial services.

The transaction brings together Step’s digital banking infrastructure and FinTech team with Beast Industries’ large global audience and philanthropic initiatives. The companies said the combined organisation will focus on delivering financial wellness tools and educational resources designed to serve users across different life stages.

Jeff Housenbold, CEO of Beast Industries, said, “Financial health remains a core component of overall wellbeing, but acknowledged that access to practical tools and financial education remains uneven. The acquisition, he suggested, is intended to help close that gap by leveraging both technology and scale.”

Step, which targets younger consumers, has built an app-based financial services platform aimed at improving money management and financial literacy among Gen Z and younger demographics. The company reports more than 7 million users and has attracted backing from many high-profile investors, including NBA champion Stephen Curry, Charli D’Amelio, Justin Timberlake, Will Smith and The Chainsmokers. Its model combines digital banking features with a brand positioned around responsible financial habits and early financial independence.

CJ MacDonald, CEO and founder of Step, said the acquisition aligns with the company’s founding mission. “Our goal has always been to improve the financial future of the next generation. There are a lot of synergies between Step and what Jimmy, Jeff and the team at Beast Industries believe in when it comes to helping people and giving back,” he said.

For the broader FinTech sector, the deal reflects a growing convergence between digital media platforms and financial services. Creator-driven ecosystems increasingly provide distribution channels that can accelerate user acquisition for financial products, particularly among younger audiences that are digitally native and socially engaged. By integrating FinTech capabilities directly into a large-scale content and commerce platform, Beast Industries appears to be positioning financial wellness as both a service offering and a long-term engagement strategy.