Coast, a New York-based fintech startup, has raised a $35 million growth equity round to expand its platform for tracking company card spending. Thomvest Ventures led the round, which closed in October, with new investors Intuit and Small World Capital joining. Founded in 2020 by Daniel Simon, Coast pairs payment cards with software for trades businesses such as plumbing and HVAC. Workers check in by text or app, which links the card to their spending limits. Coast can use vehicle location data to block a purchase if the van is not at the gas station, then send transaction details to the company's accounting system. The company estimates its market at $120 billion. It has about 135 employees, serves thousands of businesses, and is not yet profitable. It declined to disclose its valuation.

Coast, a spend management platform, and Fleetio, a fleet maintenance platform, have deepened their partnership with an embedded experience that brings fuel transaction data and payment management directly into Fleetio. The integration allows fleet managers to control spending and maintenance operations within a single workflow. The enhanced partnership enables Fleetio customers to apply for and manage Coast cards without leaving the platform. All Coast transactions automatically match to the correct vehicle, driver and cost centre, providing more accurate reporting on miles per gallon and total cost of ownership. Fleetio customers can also use Coast cards across the Fleetio Maintenance Shop Network with waived transaction fees. The integration eliminates the need for manual reconciliation between separate fleet operations and payment systems, giving managers real-time visibility into vehicle costs.