Fintech Startup Coast Secures $40M

Coast, a fintech startup redefining financial services for transportation, has raised $40 million in its Series B funding round. This achievement comes just four months after a $25 million venture round and $67 million in debt financing.

• Tailored Solutions: Based in New York, Coast offers specialized expense management and charge cards for fleet operators.

• Diverse Clientele: Coast serves thousands of businesses across various industries, including HVAC, plumbing, landscaping, pest control, construction, government fleets, and long-haul trucking.

• Notable Investors: ICONIQ Growth led the Series B round, joined by existing investors Accel, Insight Partners, Vesey Ventures, Avid Ventures, and new investor Thomvest.

• Expansion and Future Plans: The new capital will enhance Coast's product offerings, including accounts payable automation and bill payments.

• Growing Team: Coast’s team has expanded from 50 to around 65 employees over the past year, with plans to reach 85 by the end of 2024.

Coast’s rapid growth and successful fundraising rounds underscore its significant impact in the fintech space.