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Fintech startup Coast, which provides financial services for the transportation sector, has raised $40 million in a Series B funding round. This comes just four months after its last $25 million raise in March 2024. The New York-based company, which initially started as a card for fuel, now sees 30% of new customer spend on non-fuel expenses. Coast is becoming the commercial card of choice for thousands of businesses, offering expense management tools for vehicle fleets. The latest funding round includes participation from ICONIQ Growth. Coast previously raised $27.5 million in 2022.
New York-based Coast, which offers expense management tools for vehicle fleets, raised a $40M Series B, after raising $25M in March 2024 and $27.5M in 2022 (@bayareawriter / TechCrunch) https://t.co/OnrvN7jxsy 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/TNcorMbsrB
Portfolio company @coastpayments is like Ramp or Brex, but for fleet owners. It started out as a card for fuel, but now 30% of new customer spend is non-fuel… it’s the commercial card of choice for 1000s of real businesses. Delighted to add @ICONIQGrowth to the squad. 🎉 https://t.co/gPDPOmYASC https://t.co/JbDpcWrTG7
🎉Congrats to @mrdksimon & @coastpayments on your Series B! We believe Coast’s commitment to excellent products & customer experience will reshape the fleet management landscape & provide companies with the solutions they need to be better operators. ⤵️ https://t.co/yRpCvCYqEm
