- US-based fintech Coast has secured $92 million in a combination of equity and debt capital.
- The equity portion of $25 million was raised from existing investors such as Accel, Avid Ventures, Better Tomorrow Ventures, BoxGroup, and Insight Partners, along with new participant Vesey Ventures.
- Additionally, Coast has received $67 million in committed debt capital from TriplePoint Capital and Silicon Valley Bank.
- Coast offers an expense management platform tailored for fleet-operating businesses, providing real-time data from onboard computers in company vehicles and employees’ phones to authorize and track fuel transactions.
- The fintech issues B2B fuel cards through Celtic Bank, enabling businesses to manage and monitor their fuel spending efficiently.
- The funding will be utilized to enhance product development efforts, expand support for business expenses beyond fuel, and accelerate go-to-market initiatives, including establishing a second site in Salt Lake City, Utah.
- Coast has partnered with Visa to expand its offerings, aiming to provide enhanced security, control, visibility, and reporting to fleet operators for both gas and electric vehicles.
