“We're at that perfect "controlled chaos" stage with huge plans to build a diverse and talented organization!”
Coast
Financial Services
New York, NY 4,236 followers
Fleet and fuel payments made easy
Meet The Coast Team
Coast lands $27.M from VC firms, slew of founders to provide expense management to fleet operators
Coast, which aims to help companies control fuel and fleet spending with its expense management software, has raised $27.5 million in a Series A financing co-led by Accel and Insight Partners. The raise comes just seven months after New York-based Coast announced it had raised $6 million in a seed round of funding. Existing backers Avid Ventures, Better Tomorrow Ventures and BoxGroup also participated in the financing, along with new investors Flexport and The Fintech Fund.
Read more on TechcrunchCoast Raises $27.5 Million and Collaborates with Visa to Transform Financial Services for Fleet Operators
We’re excited to welcome all of the new partners who took part in this investment round, particularly Amit Kumar from Accel (joining Coast’s board as a director), Rebecca Liu-Doyle from Insight Partners (joining as an observer), and the many founders and CEOs in fintech and transportation who participated. Amit and Rebecca have a deep understanding of Coast’s vision and the challenges that modern fleet businesses face and will be ideal partners in Coast’s next stage of growth.
Hear from our CEOModernizing Fleet Payments: Our Series A in Coast
In recent years, companies like Brex, Ramp, Divvy and others have emerged as next-gen corporate card solutions for business expense management, competing with commercial incumbents like Amex and Capital One. While those businesses have grown to large valuations and strong initial success, they have been unable to penetrate fleet operators — anyone operating a business that relies on a fleet of commercial vehicles such as trucking businesses, but also plumbing, HVAC, landscaping, and the like.
Hear from our new Board Director