Fintech startup Coast raises $35 million to better track what workers do with company credit cards
The New York-based startup wants to help contractors control employee purchases, pay vendors, and track expenses in one place.
Fintech startup Coast has secured $35 million in growth equity funding to enhance its platform for monitoring company credit card usage among employees. Founded in 2020 by former Wall Street engineer Daniel Simon, Coast aims to simplify the process of tracking employee spending, especially for tradespeople who frequently use company credit cards for equipment and fuel purchases.
The funding, announced on Thursday, was led by Thomvest Ventures and includes new investors Intuit and Small World Capital, alongside returning backers such as ICONIQ Growth, Accel, and Insight Partners. Coast's software enables businesses to set spending limits, track transactions, and automate accounting tasks, integrating with vehicle location data to ensure purchases align with set parameters.
The company, which employs about 135 people across New York and Utah, serves numerous clients including Tristate Plumbing and Texas Solar Outfitters. With a market size Coast estimates at $120 billion, the funding will help the startup expand its platform and support the growing demand for skilled tradespeople in the U.S.
Written by urgent.news from Fortune's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
