Beast Industries, the enterprise led by popular YouTuber Jimmy “MrBeast” Donaldson, unveiled its acquisition of Step, a banking app catering to teenagers and young adults, on Monday. This strategic move follows Donaldson’s earlier revelation of plans to launch a new YouTube channel dedicated to personal finance and investing. With an impressive subscriber base of 466 million, his main channel consistently ranks among YouTube’s most-watched, often showcasing videos where Donaldson generously distributes large sums of money.

Beyond this latest venture, MrBeast has diversified his portfolio with initiatives like a chain of virtual restaurants, the Feastables snack line, and the upcoming Beast Mobile phone service. However, stepping into the financial sector marks a first for his company.

Step distinguishes itself among mobile-only banking platforms like Monzo and Revolut with its focus on a younger demographic, potentially aligning well with Donaldson’s largely Gen-Z and Gen Alpha fan base. The app’s roster of investors features notable Gen-Z figures such as Josh Richards and Charli D’Amelio, the latter of whom has made appearances on MrBeast’s YouTube content.