Mr Beast’s Beast Industries has acquired fintech step app in an undisclosed deal. Step app has raised close to $500 million in total (although $300 million of this was debt financing) and was valued at as much as $920 million in 2021. Beast Industries previously secured $200 million in funding from BitMine. Banking and mobile telecommunications were two categories that Beast Industries highlighted wanting to get into.
Many readers of this site will be familiar with Step from the $200/$100 bonuses offered in 2024. I expect we won’t see similar offers in the future as Beast Industries tries to lower customer acquisition costs. I do expect more gamification of finance to be added and heavy promotion from Mr Beast’s youtube channel.
