Thomvest leads $35 million growth round in Coast
Coast, which makes fuel cards and spend management tools for construction, HVAC and other field businesses, raised $35 million in growth equity.
Coast said it raised $35 million in new growth equity funding. Thomvest Ventures led the round, which drew new investors Intuit Ventures, Small World Capital and Alpha Square Group, alongside existing backers including ICONIQ Growth, Accel, Insight Partners, Better Tomorrow Ventures, Avid Ventures, Vintage Investment Partners, Colle Capital, Synchrony, RXR and The Fintech Fund.
The company plans to use the proceeds to reach more customers and to build AI-powered expense automation, new Bill Pay and accounts payable products, and embedded partnerships with fleet and field service platforms its customers already use.
Coast began with a fuel card and expanded into corporate cards, expense management and bill pay for construction, HVAC, plumbing, landscaping, electrical, pest control, solar, transportation, energy, oil and gas and utilities businesses. CEO Daniel Simon said Thomvest first backed the company in 2024 and that Intuit Ventures is a key integration partner for its customers.
Deal facts
- Target
- Coast
- Business
- Financial platform offering fuel cards, corporate cards, expense management and bill pay for field-service businesses
- Buyer
- Thomvest Ventures
- Deal type
- Investment
- Value
- $35 million
- Status
- Completed
- Announced
- Thursday, October 22, 2026
Sources
- PR NewswireOct 22, 2026
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