Coast Valuation, Funding & Investors

Coast is valued at $118M as of July 2024.

See full Coast profile

Last Coast valuation

$118M

Series B · Jul 2024

Last Coast funding round

$35M

Undisclosed stage · Oct 2026

Cumulative funding Coast raised

$134M

across 5 funding rounds

Key investors in Coast

  • Avid Ventures
  • Accel
  • Insight Partners
  • Better Tomorrow Ventures
  • BoxGroup
  • ICONIQ Capital

Coast Overview

About Coast

Coast is a San Francisco-based payments platform for fleet operators and truckers handling fuel, maintenance, and tolls. The company issues virtual corporate cards integrated with telematics like Samsara for automated expense controls and reimbursements. Coast processes transactions at 50,000 North American locations with real-time visibility into diesel purchases. Founded in 2020, it serves logistics firms replacing manual fuel cards with API-driven fleet management.


Founded

2020

HQ

United StatesNew York City, NY

Status

Privately held

Customer focus

B2B

Revenue model

Commission

Valuation

$118M (Jul 2024)

Coast Valuation

Coast is currently valued at $118M, based on its Series B in July 2024. Read the announcement ↗

The $40M round was led by ICONIQ Capital, with participation from Avid Ventures, Vesey Ventures, Insight Partners, Accel and Thomvest Ventures.

Coast's valuation has moved from $118M at its Series A in March 2024 to $118M in July 2024, across 2 priced rounds.

Coast valuation by funding round

Coast valuation by funding round
DateStageValuation
Jul 2024Series B$118M
Mar 2024Series A$118M

Coast Funding History

Coast has raised a total of $134M across 5 funding rounds.

Coast's first fundraising round was a $6M seed round in July 2021. The most recent completed round was a $35M undisclosed-stage round in October 2026.

Coast funding rounds

Coast funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Oct 2026Undisclosed stageThomvest Ventures (lead); Better Tomorrow Ventures; Synchrony; ICONIQ Capital; Colle Capital Partners; Avid Ventures; Intuit Ventures; The Fintech Fund; Alpha Square Group; RXR; Insight Partners; Accel$35M-Coast announced a USD 35 million growth equity round in October 2026, led by Thomvest Ventures and joined by new investors Intuit Ventures and Small World Capital. Existing backers listed alongside them include Accel, Insight Partners and ICONIQ Growth. The funding follows a USD 40 million Series B and an earlier USD 92 million round. The company said it is building a financial platform for the physical economy, selling payment tools to contractors and fleet operators. Its products combine fuel and fleet cards, field cards, corporate cards, expense management and bill pay in one program, and it estimates the addressable market at USD 120 billion. Coast was founded in 2020 by former Wall Street engineer Daniel Simon and is based in New York City. It serves industries such as HVAC, solar, plumbing, transportation, construction, landscaping and roofing, and says thousands of businesses use its cards.
Jul 2024Series BICONIQ Capital (lead); Avid Ventures; Vesey Ventures; Insight Partners; Accel; Thomvest Ventures$40M$118MCoast is a New York-based fintech startup providing a financial operating system for fleet management, including a vertical-specific Visa fuel card that simplifies expense tracking, card issuance, and bookkeeping for fleet operators in sectors like HVAC, plumbing, landscaping, pest control, construction, government fleets, and long-haul trucking. The platform leverages mobile technology and vehicle telematics data to help businesses manage fuel and fleet spending, reducing fuel bills by an average of 10% and saving 16 hours of monthly administrative work. Thousands of businesses use Coast, with fleets ranging from a few cards to over a thousand. On July 18, 2024, Coast raised $40 million in a Series B funding round led by ICONIQ Growth, with participation from existing investors Accel, Insight Partners, Vesey Ventures, Avid Ventures, and new investors Thomvest Ventures and Synchrony (strategic investment). This brings total equity financing to nearly $100 million, following a prior March 2024 round of $25 million equity and $67 million debt (totaling $92 million debt and equity). ICONIQ Growth's Yoonkee Sull joined the board. Funds will accelerate product development (e.g., accounts payable automation, bill payments), partnerships, and team growth, including a new headquarters in Utah. Customers benefit from significant savings and efficiency gains. The company positions itself to disrupt the massive U.S. fleet market serving nearly one million businesses operating around 40 million commercial vehicles. Strategic alignment with Synchrony strengthens Coast's position in aftermarket auto, leveraging Synchrony's partnerships with retailers like Discount Tire and Pep Boys.
Mar 2024Series AAccel (lead); Avid Ventures (lead); Better Tomorrow Ventures (lead); BoxGroup (lead); Insight Partners (lead); Vesey Ventures$25M$118MCoast is a fintech startup providing a financial operating system for fleet management, including a vertical-specific Visa fuel card that simplifies expense tracking, card issuance, and bookkeeping for fleet operators using mobile technology and vehicle telematics data. It helps companies reduce fuel bills by an average of 10% and save 16 hours of monthly administrative work, serving thousands of small and mid-sized businesses with fleets ranging from a few to over a thousand cards. In March 2024, Coast raised $25 million in equity co-led by BoxGroup and Avid Ventures, with participation from Accel, Insight Partners, Better Tomorrow Ventures, and new investor Vesey Ventures, alongside $67 million in debt from Silicon Valley Bank and Triple Point Capital. This insider round, described as a significant step up from its February 2022 Series A of $27.5 million, brought total equity to over $56 million. The funds support product expansion and broader financial products for fleet operators. Coast reported 550% growth in annualized revenue and payment volume in 2023, with revenue surging over 10x in the 18 months prior to July 2024, and non-fuel spend growing to over 30% in new cohorts. Four months later in July 2024, Coast raised a $40 million Series B led by ICONIQ Growth, with Accel, Insight Partners, Vesey Ventures, Avid Ventures, Thomvest, and strategic investor Synchrony, bringing total equity to nearly $100 million. CEO Daniel Simon, previously of Bread (sold for over $500 million), aims to disrupt markets like WEX and Fleetcor through sticky, high-margin expense management.
Feb 2022Series AAccel (lead); Insight Partners (lead); Better Tomorrow Ventures; BoxGroup; Avid Ventures; Flexport; Connor Theilmann; The Fintech Fund$28M-Coast is a fintech company founded in late 2020 by Daniel Simon that provides expense management software and a commercial charge card tailored for fleet operators, focusing on controlling fuel, parking, maintenance, and other on-the-road spending for small to mid-sized businesses in industries like trucking, home services, and delivery. It positions itself as the Brex or Ramp equivalent for the transportation sector, offering fleet-specific features combined with payments and software. The company announced a $27.5 million Series A round on February 17, 2022, co-led by Accel and Insight Partners, with participation from existing investors Avid Ventures, Better Tomorrow Ventures, BoxGroup, new investors like Flexport and The Fintech Fund, and angels including Max Levchin (Affirm), William Hockey (Plaid), and others. This followed a $6 million seed round seven months earlier, bringing total equity to over $33.5 million at that point. Coast planned to use the Series A proceeds to expand its platform beyond fuel payments into broader financial products for fleet operators, grow its team from around 20 to 60 employees by year-end, and scale in the US market serving businesses with fleets from a few vehicles to enterprises. The company partnered with Visa for its payments solution. In 2024, Coast raised an additional $25 million in equity and $67 million in debt from existing investors including Avid Ventures, achieving 550% growth in annualized revenue and payment volume in 2023, attracting mid-market fleet customers and expanding non-fuel spend categories. CEO Simon described the 2022 round as the prior Series A, with the 2024 raise as a significant valuation step-up in an insider round, totaling over $56 million in equity. Investors highlighted Coast's disruption potential in the underserved fleet fintech market.
Jul 2021SeedBetter Tomorrow Ventures (lead); Colle Capital Partners; BoxGroup; Avid Ventures; SciFi VC; Greycroft; Bessemer Venture Partners; Foundation Capital$6M-Coast is a fintech startup offering a financial services platform for transportation, including payments for fleet and truck drivers. Better Tomorrow Ventures participated in Coast's early funding as part of its portfolio of fintech infrastructure companies. The specific June 2021 round involved investors including Avid Ventures, Bessemer Venture Partners, Better Tomorrow Ventures, BoxGroup, Colle Capital Partners, Foundation Capital, Greycroft, and SciFi VC, with Better Tomorrow Ventures as lead.

Who has invested in Coast?

20 investors have backed Coast across its funding rounds, including Avid Ventures, Accel, Insight Partners, Better Tomorrow Ventures, BoxGroup and ICONIQ Capital.

Lead investors include Thomvest Ventures, ICONIQ Capital, Accel, Avid Ventures, Better Tomorrow Ventures and 2 other investors.


Coast Investors

Investors in Coast by funding rounds participated
InvestorHQRoundsRoleFirst check
Avid VenturesUnited StatesUnited States5LeadJul 2021
Better Tomorrow VenturesUnited StatesSan Francisco, CA4LeadJul 2021
Insight PartnersUnited StatesNew York City, NY4LeadFeb 2022
AccelUnited StatesPalo Alto, CA4LeadFeb 2022
BoxGroupUnited StatesNew York City, NY3LeadJul 2021
ICONIQ CapitalUnited StatesSan Francisco, CA2LeadJul 2024
Colle Capital PartnersUnited StatesNew York City, NY2ParticipantJul 2021
Vesey VenturesUnited StatesNew York City, NY2ParticipantMar 2024
The Fintech FundUnited StatesNew York City, NY2ParticipantFeb 2022
Thomvest VenturesUnited StatesUnited States2LeadJul 2024
SynchronyUnited StatesStamford, CT1ParticipantOct 2026
SciFi VCUnited StatesSan Francisco, CA1ParticipantJul 2021
Intuit VenturesUnited StatesMountain View, CA1ParticipantOct 2026

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Coast Competitors

Coast competitors include listed companies like Yeahka, Tyro Payments and AGS Transact, and private ones like Sundayapp, TabbedOut and Mswipe Technologies.

Public and private companies comparable to Coast
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
SundayappUnited StatesAtlanta, GAPrivate--$140M-
YeahkaChinaChinaPublicly listed$497M$23M$172M0.4x
TabbedOutUnited StatesAustin, TXPrivate--$78M-
Tyro PaymentsAustraliaAustraliaPublicly listed$331M$47M$268M0.6x
Mswipe TechnologiesIndiaMumbaiPrivate$33M-$310M9.4x
AGS TransactIndiaIndiaPublicly listed$156M$21M$3M-

Coast Public Comps

Coast is still privately-owned, but its public comps include GalaxiaMoneytree, CSU Digital, ETranzact International Plc, RS2, accesso, Usio, Bango, EML Payments, Hecto Financial and Transaction Media Networks.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
GalaxiaMoneytree$96M$14M2.0x1.9x13.7x-
CSU Digital$114M$33M1.1x-3.7x-
ETranzact International Plc$23M$4M5.4x-31.9x-
RS2$45M$5M2.5x-21.9x-
accesso$155M$22M0.8x0.9x5.9x5.8x
Usio$85M($408K)1.0x0.9x(202.2x)21.1x
Bango$52M$8M1.8x1.8x11.3x5.1x
EML Payments$104M($38M)----

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Common questions about Coast

When was Coast founded?Coast was founded in 2020.
Where is Coast headquartered?Coast is headquartered in New York City, NY, United States.
Is Coast publicly listed?No, Coast is a private, VC-backed company.
What is Coast's valuation?Coast was last valued at $118M in its Series B in July 2024.
How much funding has Coast raised?Coast has raised $134M across 5 funding rounds.
What was Coast's last funding round?Coast's last funding round was a $35M undisclosed-stage round in October 2026, led by Thomvest Ventures.
Who are Coast's investors?Coast's investors include Avid Ventures, Better Tomorrow Ventures, Insight Partners, Accel, BoxGroup, ICONIQ Capital, Colle Capital Partners, Vesey Ventures, The Fintech Fund, Thomvest Ventures and 10 others.
Which companies are comparable to Coast?Companies comparable to Coast include Sundayapp, Yeahka, TabbedOut, Tyro Payments, Mswipe Technologies and AGS Transact.

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