Stakk wins two-year deal with MrBeast-owned Step
Stakk Limited (ASX: SKK) has signed a new two-year agreement with Step Financial, LLC (“Step”), the U.S. financial technology platform owned by Beast Industries, which was founded and led by Jimmy Donaldson, better known as MrBeast. Services went live on signing, with revenue commencing immediately and continuing monthly.
Step is an entirely new customer for the Group. Stakk is delivering a solution uniquely configured to support Step’s mobile Remote Deposit Capture offering in the United States.
The win follows the IBM (NYSE: IBM) announcement made yesterday, 7 October 2026 being the date of this release, and adds to the recently announced Candescent and FBI engagements.
Key takeaways from the announcement:
- Step’s U.S. platform has attracted more than seven million users
- The agreement carries a minimum service term of two years
- Revenue commenced on signing and continues monthly
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What Stakk is delivering to Step
AI-powered fraud mitigation for mobile cheque deposits
Stakk will provide Step with its AI-powered document processing, validation and fraud mitigation capabilities. These capabilities automate the extraction and validation of information received as part of the Remote Deposit Capture process, support accurate deposit decisions, and reduce fraud risk.
According to the company, this is intended to help Step deliver a secure and intuitive customer experience. For investors, the engagement places Stakk’s technology within a U.S. consumer platform, adding to Stakk’s presence in what the announcement describes as its core U.S. market.
Who is Step and Beast Industries?
Step has attracted users by making financial tools and education accessible through an intuitive mobile platform. Its offering helps customers manage money, build credit and develop stronger financial habits.
Beast Industries acquired Step in February 2026 to accelerate its expansion into financial services, with the stated aim of closing the financial literacy gap and bringing new financial wellness products to market. Key figures from the announcement:
- Step: more than seven million users
- MrBeast: more than 500 million subscribers to his flagship channel
- Beast Industries: more than five billion monthly views across its channels, as reported at the time of the Step acquisition
What is Remote Deposit Capture?
Remote Deposit Capture lets a customer deposit a cheque by photographing it with a mobile phone, rather than visiting a branch. The platform must then read the information on the image and decide whether the deposit is genuine.
Accuracy, automation and fraud detection matter because errors or fraudulent cheques can affect both the platform and its users. That need for automated document checking is the area Stakk’s document processing, validation and fraud mitigation capabilities address in this engagement.
Recurring revenue and commercial terms
The agreement combines a minimum term with automatic renewal and a two-part revenue structure. The table below summarises the terms disclosed.
| Term | Detail |
|---|---|
| Customer | Step Financial, LLC (owned by Beast Industries) |
| Term | Minimum service term of two years |
| Renewal | Automatic renewal for successive 12-month terms thereafter |
| Revenue structure | Recurring platform fees and usage-based charges linked to processing volumes |
| Go-live | Services went live on signing, with revenue commencing immediately and continuing monthly |
Because revenue includes usage-based charges, total revenue over the agreement’s term will depend on usage. Stakk states this is not quantifiable at this time, and no contract value was disclosed.
The company states that, due to the size of Step’s userbase, the agreement is expected to contribute meaningfully to Stakk’s FY2027 revenue target. The announcement does not attach a figure to that target.
Stakk had already reported fully contracted FY2027 revenue of A$55.2 million before the Step win, which means the new agreement adds to a target that is already secured.
Emiliano Giacchetti, Stakk IQ CEO
“…That is a strong endorsement of the versatility of our technology—from supporting global enterprise leaders to enabling purpose led innovators shaping how people manage their money.”
Building commercial momentum
The announcement names several recent commercial developments:
- IBM Australia and New Zealand agreement
- Candescent
- FBI engagements
- Step
The announcement states that while IBM’s new Australia and New Zealand agreement demonstrates the Group’s expanding international enterprise reach, Step adds a new customer in Stakk’s core U.S. market. It also highlights Stakk’s ability to meet the bespoke requirements of innovative financial platforms.
Stakk describes itself as a scaled, profitable and globally relevant AI-native Digital Trust infrastructure Group focused on combating fraud. Company snapshot figures from the announcement:
- More than 300 enterprise customers across the United States, Europe, the Middle East and Australia
- More than 110 billion interactions processed annually
- More than 30 years of proprietary AI-powered document intelligence
For readers wanting to understand where the 300 enterprise customers and 30 years of document intelligence come from, our full explainer on Stakk’s ParaScript acquisition covers the US$63M deal, the combined revenue base and the FY2027 EBITDA target.
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