Coast Raises $35 Million to Expand Financial Platform for Physical Economy
News related to:Coast · 2 min read
NEW YORK, Oct. 22, 2026 /CourierPR/ -- Coast, a financial platform designed for the physical economy, has secured $35 million in new growth equity funding. The round was led by Thomvest Ventures and joined by new investors Intuit Ventures, Small World Capital, and Alpha Square Group, with existing investors including ICONIQ Growth, Accel, Insight Partners, Better Tomorrow Ventures, Avid Ventures, Vintage Investment Partners, Colle Capital, Synchrony, RXR, and The Fintech Fund.
The funding will enable Coast to expand its platform and reach more customers. The company plans to invest in AI-powered expense automation, new Bill Pay and Accounts Payable products, and embedded partnerships with the fleet and field service platforms its customers already use. Coast aims to deepen its financial operating system for industries such as construction, HVAC, plumbing, electrical, pest control, solar, transportation, energy, oil and gas, utilities, and more.
The physical economy is experiencing significant growth, driven by the AI data center boom. Job postings for HVAC engineers have risen nearly 78% since 2022, and openings for electricians, welders, and construction specialists are up 30%. As these industries expand, their businesses are becoming more complex. However, the tools they rely on have not evolved to meet their needs. Most businesses are still forced to use generic corporate cards, banking, and fleet tools that were not designed for their specific operations.
Coast offers a comprehensive financial platform tailored to the unique needs of field businesses. The company started with America's top-rated fuel card and has since expanded into corporate cards, expense management, and bill pay, all designed for how these businesses operate. Coast's platform provides vehicle- and driver-level visibility, telematics-enabled controls, fuel grade and gallon-level detail, job costing, and payments for trade-specific workflows and fuel, field, supplies, and office needs. For accounting, the platform integrates with systems to automate reconciliation and coding for finance teams.
The new funding will help Coast continue to innovate and meet the evolving needs of its customers. The company is well-positioned to support the growth of the physical economy by providing a financial platform that is specifically designed for the industries it serves.