Coast Secures $35 Million in Growth Equity Funding to Expand Financial Platform for Physical Economy
Coast has raised $35 million in a growth equity round led by Thomvest Ventures, with participation from new investors including Intuit Ventures, Small World Capital, and Alpha Square Group. The funding aims to transform Coast into a comprehensive financial operating system specifically designed for industries within the 'physical economy,' such as construction, HVAC, transportation, and utilities. The company plans to utilize the capital to scale its customer base and invest in AI-powered expense automation, new Bill Pay and Accounts Payable products, and deeper embedded partnerships with existing fleet and field service platforms. By integrating telematics and job-specific data into financial workflows, Coast seeks to solve the complexity issues faced by growing trade businesses that currently rely on generic corporate banking tools.
Topics: fintech funding announcement growth equity venture capital