Step
“Can a Gen Z-native banking app become the financial OS for a creator economy generation?”
Founded2018
HQSan Francisco, CA
FoundersCJ MacDonald
Total raised~$500M
Latest roundAcquired by Beast Industries (Feb 2026)
IndustryFintech / Consumer banking
The story
Step launched in 2018-2019 as a teen-focused, no-fee mobile banking app built around a Visa card that helps minors build credit before age 18. The company scaled rapidly through Gen Z influencer marketing (Charli D'Amelio, Steph Curry) and expanded from a pure spend/save product into savings (3% APY), cashback via Step Black subscription, and EarlyPay cash advances. In February 2026, MrBeast's Beast Industries acquired Step, positioning it as the financial layer for a creator-driven Gen Z media empire.
Last 12 months
Product timeline
2018
Step founded to build mobile banking for teens and families· banking
2019
Raises $22.5M Series A led by Stripe· banking
2020
Public launch; Series B $50M led by Coatue· banking
2021
$100M Series C led by General Catalyst; Steph Curry joins as investor· banking
2024
Launches Step EarlyPay (earned wage / cash advance up to $250)· lending
2026
Acquired by Beast Industries (MrBeast)· acquisition
The stack
4 layers disclosed in Step’s embedded-finance stack
Banking / BaaS
Card issuing
in the full report
Lending
in the full report
Crypto
in the full report
Accounting gap: none
3 more providers across 3 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.