Monday, July 22, 2024
HomeFunding NYC-based Coast Secures $92Million in Funding

[Funding alert] NYC-based Coast Secures $92Million in Funding

Coast, a company offering a way to manage fuel and fleet spending secures $92million in equity and committed debt capital.

Coast, a company offering a way to manage fuel and fleet spending secures $92million in equity and committed debt capital.

The new equity capital comes from their existing investors: BoxGroup, Avid Ventures, Accel, Insight Partners, and Better Tomorrow Ventures. The debt capital comes from Silicon Valley Bank as well as TriplePoint Capital.

They are also pleased to announce for the first time the participation of Vesey Ventures, extremely experienced in credit and payments and accelerating Coast’s momentum through their work in strategy and partnerships.

Read also – TX-based Blockhouse Digital Secures $2Million in GP Funding

As a company, they were thrilled to have these additional resources to help grow their business and serve more customers. They set out to build a company that would improve the working lives of mobile workforces while helping their employers’ businesses thrive.

Over the years since they launched Coast’s expense management platform and charge card, they have seen the impact that a real-time digital financial platform can have for residential and commercial services, transportation, construction, logistics, and so many more real-world industries.

They can’t overstate the contribution of Visa here, whose partnership and innovation in the fleet space have unlocked a transformational opportunity.

Thousands of fleet-operating businesses now rely on Coast for fleet and fuel payments, with many telling them that switching to Coast has been game-changing for their businesses. Their customers regularly share feedback like “The product speaks for itself,” and “It’s been so great switching to Coast – I wish we’d done it sooner.”

Read also – MA-based Ediphi Secures $12Million in Series A Round Funding

About Coast

Fuel and fleet payments simplified. With Coast, you can effortlessly manage and monitor your expenses – it’s a flexible, fair card that works everywhere. They think that better is due to fleets. Fleet managers have wasted time and money fretting about manual spend reporting and erroneous purchases.

They were here to change that, permanently altering fleet management through the use of better technologies. Fuel and fleet payments simplified. With it, you can effortlessly manage and monitor your expenses – it’s a flexible, fair card that works everywhere.

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