202421 Mar

Fueling innovation for fleets through our latest company milestone

Summary

We are also pleased to announce for the first time the participation of Vesey Ventures, extremely experienced in credit and payments and accelerating Coasts momentum through their work in strategy and partnerships.As a company, were thrilled to have these additional resources to help grow our business and serve more customers. We set out to build a company that would improve the working lives of mobile workforces while helping their employers businesses thrive. Over the years since we launched Coasts expense management platform and charge card, weve seen the impact that a real-time digital financial platform can have for residential and commercial services, transportation, construction, logistics, and so many more real-world industries.We cant overstate the contribution of Visa here, whose partnership and innovation in the fleet space have unlocked a transformational opportunity.Thousands of fleet-operating businesses now rely on Coast for fleet and fuel payments, with many telling us that switching to Coast has been game-changing for their businesses. Our customers regularly share feedback like The product speaks for itself, and Its been so great switching to Coast I wish wed done it sooner.In 2024, we look forward to: Building out specialized expense management functionality that supports our customers financial processes Integrating with new platforms that our customers use, whether thats fleet management, telematics, accounting, or ERP platforms Launching additional partnerships with fuel brands, fleet management companies, field service software providers, and other critical vendors for our customers Augmenting our platform to better serve the needs of fleet electrificationOn a personal note, Im grateful to be working more closely with partners who have been instrumental to Coasts success thus far Adam Rothenberg at BoxGroup, Addie Lerner at Avid Ventures, Lindsay Fitzgerald at Vesey Ventures, and the entire team at Silicon Valley Bank. Im also thankful for the continued support from our major institutional backers at Accel, Insight Partners, and Better Tomorrow Ventures.Looking back at the remarkable achievements of 2023, Im truly excited to embark on this journey with our partners, and further cement Coasts position as the premier financial platform for trades and transportation.

Source: Coastpay

Funding

$25M
Amount
Mar 21 2024
Date
-
Investor
Coast
Company

Classifications

Companies