Coast Secures $35 Million in Growth Capital Round

The fintech company plans to expand its AI-enabled expense automation tools following a new funding round led by Thomvest Ventures.

Updated on Oct. 22, 2026 in Startups

A close-up of a large truck tire tread on asphalt, emphasizing industrial texture and logistical scale. — Fintech platform Coast raised $35 million in growth capital led by Thomvest Ventures to further automate expense management for commercial vehicle fleets. AI Illustration. Upload story photo >

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Coast has raised $35 million in a growth capital round led by Thomvest Ventures to expand its reach and develop new automated payment products. The platform specializes in modernizing expense management for fleet operations through embedded software integrations.

Why it matters

The investment underscores a broader industry push to modernize financial management for field operations through advanced software. By integrating telematics and purchasing data, the company aims to simplify reconciliation for businesses managing vehicle fleets.

Coast raised $35 million in a round led by Thomvest Ventures, which previously invested in the firm in 2024. The total funding supports the development of AI-enabled accounts payable and bill payment tools.

The players

Coast

Coast is a financial technology company that develops expense management software for vehicle fleets and field operations.

Thomvest Ventures

Thomvest Ventures is a venture capital firm that led the latest funding round and maintains an investment history with the startup.

Samsara

Samsara is a fleet management and telematics provider that partners with Coast to integrate vehicle data into expense platforms.

Fleetio

Fleetio is a fleet operations software company that provides data integrations to support automated expense reconciliation.

The details

Coast provides a platform that integrates vehicle location data, telematics, and driver identification to provide line-item expense controls. The software maintains embedded partnerships with fleet management providers like Samsara and Fleetio to monitor driver activity and card usage.

Thomvest Ventures first provided capital to the company in 2024.
The $35 million growth capital round was secured on October 22, 2026.

Market Landscape

This funding reflects the broader shift toward modernizing expense management for field operations through financial technology. It pits the company against other digital payment platforms competing to replace manual reconciliation processes in the commercial sector.

Business customers using fleet management services may soon see enhanced automation tools for tracking expenses and reconciling purchases. These upgrades are designed to provide greater transparency and efficiency in managing driver costs.

The takeaway

Companies in the field operations sector are increasingly adopting AI-driven platforms to manage complex purchase data. Business owners can expect a shift toward more automated accounts payable processes as these technologies integrate with existing fleet management software.