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Step profile

Who owns Step?

traditional · Palo Alto, US · Partner-bank model · custody: Custodial

short answerStep is not itself a bank. It runs on a partner-bank (BaaS) model and works with Evolve Bank & Trust — the licensed bank that actually holds customer deposits behind the app. Step's most notable disclosed backers include Coatue, Stripe, General Catalyst and Crosslink Capital.

Is Step a licensed bank?

No — a partner bank (Evolve Bank & Trust) holds the money. Licence detail: Partner bank (Evolve).

Where is your money held?

Custody model: Custodial.

Step runs on: Evolve Bank & Trust (BIN sponsor bank) · Zero Hash (crypto brokerage infrastructure). Full stack on the infra map.

Who's behind Step?

Step was founded by CJ MacDonald (2018), headquartered in Palo Alto, US.

Early investors

Notable venture and strategic investors from Step's publicly disclosed funding rounds (~$175M+ raised).

Coatue ↗ Stripe ↗ General Catalyst ↗ Crosslink Capital ↗

Is my money safe with Step?

Your money is held by Evolve Bank & Trust, so any deposit insurance flows through that sponsor bank — not Step itself. Check the sponsor's scheme and whether balances are "passed through" for per-customer insurance.

go deeperSee the full Step profile with every verified field, or Step alternatives. Raw fields: data.json.

Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.