Coast has raised $92 million in new funding across equity and committed debt capital. The new equity capital comes from investors, such us  BoxGroup, Avid Ventures, Accel, Insight Partners, and Better Tomorrow Ventures. The debt capital comes from Silicon Valley Bank as well as TriplePoint Capital, and for the first time the participation of Vesey Ventures, extremely experienced in credit and payments and accelerating Coast’s momentum through their work in strategy and partnerships.

As a company, they’re thrilled to have these additional resources to help grow the business and serve more customers, set out to build a company that would improve the working lives of mobile workforces while helping employers’ businesses thrive. Over the years since Coast launched the expense management platform and charge card, the company has seen the impact a real-time digital financial platform can have for residential and commercial services, transportation, construction, logistics, and many more real-world industries.

Partnership and innovation with Visa in the fleet space have unlocked a transformational opportunity.

Daniel Simon
Founder and CEO at Coast:

"In 2024, we look forward to:
– Building out specialized expense management functionality that supports our customers’ financial processes
– Integrating with new platforms that our customers use, whether that’s fleet management, telematics, accounting, or ERP platforms
– Launching additional partnerships with fuel brands, fleet management companies, field service software providers, and other critical vendors for our customers
– Augmenting our platform to serve the needs of fleet electrification better

On a personal note, I’m grateful to be working more closely with partners who have been instrumental to Coast’s success thus far – Adam Rothenberg at BoxGroup, Addie Lerner at Avid Ventures, Lindsay Fitzgerald at Vesey Ventures, and the entire team at Silicon Valley Bank. I’m also thankful for the continued support from our major institutional backers at Accel, Insight Partners, and Better Tomorrow Ventures."