Congrats to Daniel Simon and the whole Coast team. We're thrilled to add "fuel" to this fleet card fire! 🚗 💳 🔥 Many SMB industries are left behind by the spend management tools popularized in tech rags. Fuel cards are a critical part of how field services businesses operate. They're specialized businesses that require specialized solutions. Enter Coast. We're excited that this fundraise will help get Coast in the hands of more fleet managers so they can focus on their business, and not their back office.
A little over three years ago, I founded Coast with the goal of building best-in-class financial tools for trades and transportation. Today, I’m excited to share our latest company milestone: Coast has raised $92 million in new funding across equity and committed debt capital. As a company, we’re thrilled to have these additional resources to help grow our business and serve more customers. Thousands of fleet-operating businesses now rely on Coast for fleet and fuel payments, with many telling us that switching to Coast has been transformational for their businesses. On a personal note, I’m grateful to be working more closely with partners with whom I’ve collaborated over much of my career in startups. Adam Rothenberg at BoxGroup has been an investor with me at two companies over nearly 10 years, and Addie Lerner at Avid Ventures has been with Coast since some of its earliest days. The addition of Lindsay Fitzgerald at Vesey Ventures adds major expertise in partnerships and business development across financial services. I’m also thankful for the continued support from our major institutional backers at Accel, Insight Partners, and Better Tomorrow Ventures Silicon Valley Bank has been a key base for me across the better part of a decade and two companies, up and down the capital structure, providing critical payments capabilities in addition to debt capital. Finally, TriplePoint Capital plays a vital role as lenders to Coast, just as they did for my prior company, Bread. This fantastic team creates a robust foundation for Coast to build and grow. Here's to fueling further innovation for fleets in 2024 and beyond! https://lnkd.in/d4QxVyt6
