{"success":true,"data":{"pressRelease":{"id":"177209","rtpr_id":"nPn83p9bCa-20261022","ticker":"COAS","exchange":"","all_tickers":["COAS"],"title":"Coast Raises $35 Million to Build the Financial Platform for the Physical Economy","author":"PR Newswire","published_at":"2026-10-22T13:01:00.261Z","article_body":"Coast Raises $35 Million to Build the Financial Platform for the Physical Economy\nPR Newswire\n\nNEW YORK, Oct. 22, 2026\n\nRound led by Thomvest Ventures, with new investors Intuit and Small World\nCapital\n\nNEW YORK, Oct. 22, 2026 /PRNewswire/ -- Coast\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4803974-1&h=1965519751&u=http%3A%2F%2Fcoastpay.com%2F&a=Coast)\n, the financial platform built for the physical economy, today announced it\nhas raised $35 million in new growth equity funding. The round was led by\nThomvest Ventures and joined by new investors Intuit Ventures, Small World\nCapital, and Alpha Square Group, with participation from existing investors\nICONIQ Growth, Accel, Insight Partners, Better Tomorrow Ventures, Avid\nVentures, Vintage Investment Partners, Colle Capital, Synchrony, RXR, and The\nFintech Fund.\n\nThe funding will expand Coast into a broader financial operating system for\nthe physical economy. Coast will use the proceeds to reach more customers and\nto invest in AI-powered expense automation, new Bill Pay and Accounts Payable\nproducts, and embedded partnerships with the fleet and field service platforms\nits customers already use.\n\nThe AI data center boom is pulling construction, HVAC, electrical, utility,\nand transportation into overdrive. Job postings for HVAC engineers have risen\nnearly 78% since 2022, and openings for electricians, welders, and\nconstruction specialists are up 30%. As these industries grow, their\nbusinesses are getting more complex. But the tools they rely on haven't\nevolved. Most are still forced to piece together generic corporate cards,\nbanking, and fleet tools that weren't designed for how they operate.\n\nCoast is the financial platform built for the physical economy: construction,\nHVAC, plumbing, landscaping, electrical, pest control, solar, transportation,\nenergy, oil and gas, utilities, and more. The company started with America's\ntop-rated fuel card, then expanded into corporate cards, expense management,\nand bill pay, all designed for how these businesses actually operate.\n\n\"The millions of field businesses that keep the physical economy running still\nlack a financial platform built around the way they work,\" said Daniel Simon,\nFounder and CEO of Coast. \"Coast is that platform. We're excited to deepen our\npartnership with Thomvest, who first backed Coast in 2024, and to welcome\nIntuit Ventures, a deep integration partner that's a critical part of so many\nof our customers' businesses as they grow.\"\n\nCoast's industry focus gives customers controls and data that go far beyond a\ntypical corporate card: vehicle- and driver-level visibility,\ntelematics-enabled controls, fuel grade and gallon-level detail, job costing,\nand payments for trade-specific workflows and fuel, field, supplies, and\noffice needs. That depth extends to accounting, with integrations that\nautomate reconciliation and coding for finance teams. Taken together, the\nCoast platform saves a customer tens of thousands of dollars and weeks of work\nthat could instead be spent growing their business.\n\n\"The physical economy has been underserved by financial software for decades,\nand Coast is changing that with a platform that brings payments and credit\ncontrols into the workflows that businesses already use,\" said Don Butler,\nManaging Director at Thomvest Ventures. \"We believe that software that acts as\na control plane for payments and credit, embedded in the workflows of vertical\nindustries, is one of the most important shifts happening in financial\nservices. Coast is a clear leader on both fronts.\"\n\nCoast steers drivers to the fueling and purchase options that are most\nefficient for the company, with approvals and reconciliation running\nautomatically through the systems each customer already relies on. New Bill\nPay and Accounts Payable products bring vendor invoices onto the same platform\nas card spend, giving customers one view of all outgoing money and marking the\nfirst step toward a full financial services suite for physical economy\nbusinesses. Through partnerships with telematics, fleet management, and field\nservice providers like Samsara and Fleetio, operators can use vehicle\nlocation, driver identity, and odometer data to catch an off-route fuel\npurchase or shut off a card without leaving the software they use to run the\nfleet.\n\nAbout Coast\n\nCoast is the financial platform built for the physical economy, serving\nbusinesses in construction, HVAC, plumbing, landscaping, electrical, pest\ncontrol, solar, transportation, energy, oil and gas, utilities, and more.\nStarting with America's top-rated fuel card, Coast offers corporate cards,\nexpense management, Bill Pay, and Accounts Payable products designed for how\nfield businesses operate, with vehicle- and driver-level controls, job\ncosting, and accounting integrations. Coast is backed by ICONIQ Growth, Accel,\nInsight Partners, BoxGroup, Avid Ventures, Better Tomorrow Ventures, Thomvest\nVentures, Vesey Ventures, Intuit Ventures, Synchrony, Small World Capital,\nAlpha Square Group and others. Learn more at https://coastpay.com/\n(https://coastpay.com/) .\n\nMedia Contact\npress@coastpay.com (mailto:press@coastpay.com)\n\nView original content to download\nmultimedia:https://www.prnewswire.com/news-releases/coast-raises-35-million-to-build-the-financial-platform-for-the-physical-economy-302916432.html\n(https://www.prnewswire.com/news-releases/coast-raises-35-million-to-build-the-financial-platform-for-the-physical-economy-302916432.html)\n\nSOURCE Coast\n\n\n\nPhoto: \nhttps://mmx.prnewswire.com/media/MS1695130/Coast-Logo.jpg?id=OA3033481\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved.","article_body_html":"","raw_payload":{"data":{"id":"nPn83p9bCa-20261022","title":"Coast Raises $35 Million to Build the Financial Platform for the Physical Economy","author":"PR Newswire","ticker":"COAS","created":"2026-10-22T13:01:00.261Z","tickers":["COAS"],"exchange":"","article_body":"Coast Raises $35 Million to Build the Financial Platform for the Physical Economy\nPR Newswire\n\nNEW YORK, Oct. 22, 2026\n\nRound led by Thomvest Ventures, with new investors Intuit and Small World\nCapital\n\nNEW YORK, Oct. 22, 2026 /PRNewswire/ -- Coast\n(https://edge.prnewswire.com/c/link/?t=0&l=en&o=4803974-1&h=1965519751&u=http%3A%2F%2Fcoastpay.com%2F&a=Coast)\n, the financial platform built for the physical economy, today announced it\nhas raised $35 million in new growth equity funding. The round was led by\nThomvest Ventures and joined by new investors Intuit Ventures, Small World\nCapital, and Alpha Square Group, with participation from existing investors\nICONIQ Growth, Accel, Insight Partners, Better Tomorrow Ventures, Avid\nVentures, Vintage Investment Partners, Colle Capital, Synchrony, RXR, and The\nFintech Fund.\n\nThe funding will expand Coast into a broader financial operating system for\nthe physical economy. Coast will use the proceeds to reach more customers and\nto invest in AI-powered expense automation, new Bill Pay and Accounts Payable\nproducts, and embedded partnerships with the fleet and field service platforms\nits customers already use.\n\nThe AI data center boom is pulling construction, HVAC, electrical, utility,\nand transportation into overdrive. Job postings for HVAC engineers have risen\nnearly 78% since 2022, and openings for electricians, welders, and\nconstruction specialists are up 30%. As these industries grow, their\nbusinesses are getting more complex. But the tools they rely on haven't\nevolved. Most are still forced to piece together generic corporate cards,\nbanking, and fleet tools that weren't designed for how they operate.\n\nCoast is the financial platform built for the physical economy: construction,\nHVAC, plumbing, landscaping, electrical, pest control, solar, transportation,\nenergy, oil and gas, utilities, and more. The company started with America's\ntop-rated fuel card, then expanded into corporate cards, expense management,\nand bill pay, all designed for how these businesses actually operate.\n\n\"The millions of field businesses that keep the physical economy running still\nlack a financial platform built around the way they work,\" said Daniel Simon,\nFounder and CEO of Coast. \"Coast is that platform. We're excited to deepen our\npartnership with Thomvest, who first backed Coast in 2024, and to welcome\nIntuit Ventures, a deep integration partner that's a critical part of so many\nof our customers' businesses as they grow.\"\n\nCoast's industry focus gives customers controls and data that go far beyond a\ntypical corporate card: vehicle- and driver-level visibility,\ntelematics-enabled controls, fuel grade and gallon-level detail, job costing,\nand payments for trade-specific workflows and fuel, field, supplies, and\noffice needs. That depth extends to accounting, with integrations that\nautomate reconciliation and coding for finance teams. Taken together, the\nCoast platform saves a customer tens of thousands of dollars and weeks of work\nthat could instead be spent growing their business.\n\n\"The physical economy has been underserved by financial software for decades,\nand Coast is changing that with a platform that brings payments and credit\ncontrols into the workflows that businesses already use,\" said Don Butler,\nManaging Director at Thomvest Ventures. \"We believe that software that acts as\na control plane for payments and credit, embedded in the workflows of vertical\nindustries, is one of the most important shifts happening in financial\nservices. Coast is a clear leader on both fronts.\"\n\nCoast steers drivers to the fueling and purchase options that are most\nefficient for the company, with approvals and reconciliation running\nautomatically through the systems each customer already relies on. New Bill\nPay and Accounts Payable products bring vendor invoices onto the same platform\nas card spend, giving customers one view of all outgoing money and marking the\nfirst step toward a full financial services suite for physical economy\nbusinesses. Through partnerships with telematics, fleet management, and field\nservice providers like Samsara and Fleetio, operators can use vehicle\nlocation, driver identity, and odometer data to catch an off-route fuel\npurchase or shut off a card without leaving the software they use to run the\nfleet.\n\nAbout Coast\n\nCoast is the financial platform built for the physical economy, serving\nbusinesses in construction, HVAC, plumbing, landscaping, electrical, pest\ncontrol, solar, transportation, energy, oil and gas, utilities, and more.\nStarting with America's top-rated fuel card, Coast offers corporate cards,\nexpense management, Bill Pay, and Accounts Payable products designed for how\nfield businesses operate, with vehicle- and driver-level controls, job\ncosting, and accounting integrations. Coast is backed by ICONIQ Growth, Accel,\nInsight Partners, BoxGroup, Avid Ventures, Better Tomorrow Ventures, Thomvest\nVentures, Vesey Ventures, Intuit Ventures, Synchrony, Small World Capital,\nAlpha Square Group and others. Learn more at https://coastpay.com/\n(https://coastpay.com/) .\n\nMedia Contact\npress@coastpay.com (mailto:press@coastpay.com)\n\nView original content to download\nmultimedia:https://www.prnewswire.com/news-releases/coast-raises-35-million-to-build-the-financial-platform-for-the-physical-economy-302916432.html\n(https://www.prnewswire.com/news-releases/coast-raises-35-million-to-build-the-financial-platform-for-the-physical-economy-302916432.html)\n\nSOURCE Coast\n\n\n\nPhoto: \nhttps://mmx.prnewswire.com/media/MS1695130/Coast-Logo.jpg?id=OA3033481\n\nCopyright (c) 2026 PR Newswire Association,LLC. All Rights Reserved."},"type":"article","timestamp":"2026-10-22T13:01:00.341547774Z","server_sent_at_ms":1792674060341},"received_at":"2026-10-22T13:01:00.399Z","source_url":"https://www.prnewswire.com/news-releases/coast-raises-35-million-to-build-the-financial-platform-for-the-physical-economy-302916432.html"},"analysis":{"id":"165162","press_release_id":"177209","analysis_json":{"industry":{"label":"Transaction & Payment Processing Services","sector":"Financials"},"redFlags":["Coast is a private company; the COAS ticker mapping is likely erroneous or unrelated to the subject of this release"],"eventType":"offering","narrative":"Coast, the financial platform for the physical economy, raised $35 million in growth equity led by Thomvest Ventures with new investors including Intuit Ventures, Small World Capital, and Alpha Square Group.\n\nProceeds will fund expansion into Bill Pay and Accounts Payable products, AI-powered expense automation, and embedded partnerships with fleet and field service platforms such as Samsara and Fleetio.\n\nCoast cites demand from the AI data center construction boom, noting HVAC job postings up roughly 78% since 2022 and skilled-trade openings up 30%. The release is a private-company announcement; Coast is not a listed issuer on a public exchange.","sentiment":"bullish","agentHooks":{"shouldPost":false,"suggestedAngle":"Private fintech Coast raises $35M to expand from fleet cards into a full financial operating system for field-service businesses."},"keyFigures":{"dealValueUsd":35000000,"customDimensions":{"hvac_job_posting_growth":"78% since 2022","skilled_trade_openings_growth":"30%"}},"quotedText":"The millions of field businesses that keep the physical economy running still lack a financial platform built around the way they work","namedEntities":{"people":[{"name":"Daniel Simon","role":"Founder and CEO of Coast"},{"name":"Don Butler","role":"Managing Director, Thomvest Ventures"}],"products":["Coast fuel card","corporate cards","expense management","Bill Pay","Accounts Payable"],"companies":[{"name":"Coast","relationship":"issuer"},{"name":"Thomvest Ventures","relationship":"lead investor"},{"name":"Intuit Ventures","relationship":"new investor and integration partner"},{"name":"Small World Capital","relationship":"new investor"},{"name":"Alpha Square Group","relationship":"new investor"},{"name":"ICONIQ Growth","relationship":"existing investor"},{"name":"Accel","relationship":"existing investor"},{"name":"Insight Partners","relationship":"existing investor"},{"name":"Better Tomorrow Ventures","relationship":"existing investor"},{"name":"Avid Ventures","relationship":"existing investor"},{"name":"Vintage Investment Partners","relationship":"existing investor"},{"name":"Colle Capital","relationship":"existing investor"},{"name":"Synchrony","relationship":"existing investor"},{"name":"RXR","relationship":"existing investor"},{"name":"The Fintech Fund","relationship":"existing investor"},{"name":"Samsara","relationship":"partner"},{"name":"Fleetio","relationship":"partner"}],"dollarAmounts":[{"amount":"$35 million","context":"new growth equity funding"}]},"materialImpact":{"score":2,"reasoning":"Private growth-equity raise by Coast (coastpay.com), a private fintech, not a disclosure by a listed issuer. Positive funding news but little direct bearing on a public COAS ticker."},"tickerRelevance":{"others":[],"primary":"COAS"},"globalImportance":18,"audienceRelevance":12,"eventTypeSecondary":["partnership"],"importanceComponents":{"tickerTier":"private-company-announcement","eventGravity":"private growth round","listedException":"release is authored by a private company, not a public filer"}},"event_type":"offering","event_type_secondary":["partnership"],"sentiment":"bullish","material_impact_score":2,"narrative":"Coast, the financial platform for the physical economy, raised $35 million in growth equity led by Thomvest Ventures with new investors including Intuit Ventures, Small World Capital, and Alpha Square Group.\n\nProceeds will fund expansion into Bill Pay and Accounts Payable products, AI-powered expense automation, and embedded partnerships with fleet and field service platforms such as Samsara and Fleetio.\n\nCoast cites demand from the AI data center construction boom, noting HVAC job postings up roughly 78% since 2022 and skilled-trade openings up 30%. The release is a private-company announcement; Coast is not a listed issuer on a public exchange.","key_figures":{"dealValueUsd":35000000,"customDimensions":{"hvac_job_posting_growth":"78% since 2022","skilled_trade_openings_growth":"30%"}},"named_entities":{"people":[{"name":"Daniel Simon","role":"Founder and CEO of Coast"},{"name":"Don Butler","role":"Managing Director, Thomvest Ventures"}],"products":["Coast fuel card","corporate cards","expense management","Bill Pay","Accounts Payable"],"companies":[{"name":"Coast","relationship":"issuer"},{"name":"Thomvest Ventures","relationship":"lead investor"},{"name":"Intuit Ventures","relationship":"new investor and integration partner"},{"name":"Small World Capital","relationship":"new investor"},{"name":"Alpha Square Group","relationship":"new investor"},{"name":"ICONIQ Growth","relationship":"existing investor"},{"name":"Accel","relationship":"existing investor"},{"name":"Insight Partners","relationship":"existing investor"},{"name":"Better Tomorrow Ventures","relationship":"existing investor"},{"name":"Avid Ventures","relationship":"existing investor"},{"name":"Vintage Investment Partners","relationship":"existing investor"},{"name":"Colle Capital","relationship":"existing investor"},{"name":"Synchrony","relationship":"existing investor"},{"name":"RXR","relationship":"existing investor"},{"name":"The Fintech Fund","relationship":"existing investor"},{"name":"Samsara","relationship":"partner"},{"name":"Fleetio","relationship":"partner"}],"dollarAmounts":[{"amount":"$35 million","context":"new growth equity funding"}]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:5c812bd9e28b810d","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-10-22T13:01:07.450Z","global_importance":18,"audience_relevance":12,"importance_components":{"tickerTier":"private-company-announcement","eventGravity":"private growth round","listedException":"release is authored by a private company, not a public filer"}},"durationMs":6886,"modelName":"glm-5.3-flashx"}}