TikTok's biggest star, 16-year-old Charli D'Amelio is raking in money, and she's using some of it to invest in a banking app for teens. D'Amelio — who earns an estimated $4 million a year from TikTok, according to Forbes — invested in teen banking app Step as part of its Series B funding round, a Step spokesperson told CNN Business.
Step is a mobile app that provides teens with an FDIC-insured bank account and a Visa card with no fees, according to the company. It allows parents to set guidelines for their children's spending, and users can send and receive money. The company says there is no minimum balance.