Coast Raises $35 Million to Expand AI-Powered Financial Platform
Coast Raises $35 Million in Growth Equity Funding Coast raises $35M in new growth equity to grow its platform for physical economy companies Coast gets $35 million in fresh growth The post Coast Raises $35 Million to Expand AI-Powered Financial Platform appeared first on Ventureburn .
Coast, a New York-based fintech, has raised $35 million in growth equity funding to expand its AI-powered financial platform for physical economy companies. Led by Thomvest Ventures, other investors include ICONIQ Growth, Accel, Insight Partners, Better Tomorrow Ventures, Avid Ventures, Vintage Investment Partners, Colle Capital, Synchrony, RXR, and The Fintech Fund.
The funding will be used to grow its user base and develop AI-powered expense automation, as well as expand its Bill Pay and Accounts Payable offerings. Coast aims to become a broader financial operating system, addressing the financial challenges faced by field businesses, which often require deep controls over spending related to vehicles, employees, job sites, and suppliers.
The company started with a fuel card for business fleets and has since expanded into corporate cards, expense management, and vendor payments, supporting various industries such as construction, HVAC, plumbing, landscaping, pest control, solar, oil and gas, and utilities.
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