--- title: "Coast Raises $35M to Expand Beyond Fuel Cards" description: "Thomvest led Coast's growth-equity round as Intuit Ventures joined. The fleet-finance platform is adding vendor payments, with separate pricing and a bigger adoption test." date: 2026-10-23T10:13:20.000Z source: https://venturecapitaltracker.com/coast-35m-growth-equity-field-payments --- # Coast Raises $35M to Expand Beyond Fuel Cards > Thomvest led Coast's growth-equity round as Intuit Ventures joined. The fleet-finance platform is adding vendor payments, with separate pricing and a bigger adoption test. [Coast](/startup/coast) announced **$35M in growth equity on October 22, 2026**, led by [Thomvest Ventures](/fund/thomvest-ventures), to expand beyond fuel cards into expense automation and vendor payments. New investor Intuit Ventures adds a strategic connection: Coast already integrates with QuickBooks, the accounting software many of its customers use. The opportunity is practical. A plumbing company needs technicians to buy fuel and supplies without leaving its office team to reconstruct every purchase. Coast wants to handle those card transactions and supplier invoices in one place. ## What the funding changes [Coast's announcement](https://coastpay.com/blog/coast-raises-35m-to-build-the-financial-platform-for-the-physical-economy/) names Intuit Ventures, Small World Capital and Alpha Square Group as new backers. Returning investors include [ICONIQ Growth](/fund/iconiq-growth), [Accel](/fund/accel) and [Insight Partners](/fund/insight-partners). The [company-issued release](https://www.prnewswire.com/news-releases/coast-raises-35-million-to-build-the-financial-platform-for-the-physical-economy-302916432.html) specifies growth equity; it does not assign a Series C label or disclose a valuation. Coast previously announced a [$40M Series B in July 2024](https://getcoastcard.com/blog/announcing-coast-series-b-funding/). Its separate [$92M March 2024 package](https://coastpay.com/blog/fueling-innovation-coast-latest-funding/) combined equity and committed debt, so that figure should not be read as an all-equity round. ## From fuel receipts to the whole job A company-hosted [Cam Energy case study, dated August 2022](https://coastpay.com/blog/cam-energy-fleet-savings/), shows the problem Coast originally addressed. The HVAC and plumbing business's old fuel card could not cover metered parking. Drivers paid themselves, then accounting staff reconciled reimbursements. Its manager also described restrictive administration tools, fees and interruptions when cards were frozen. Coast let the business permit necessary purchases while setting limits and monitoring transactions. The case study reports average savings of **$1,600 a month** from avoided fees and downtime. That is a historical customer testimonial published by Coast, not an independently audited result or a promise for every fleet. The expansion adds another workflow. According to [Coast's Bill Pay product page](https://coastpay.com/accounts-payable/), a business can capture a supplier invoice, route it for approval, pay it and sync the record to QuickBooks Online. Fuel, materials and vendor bills become easier to review together. This is also an integration strategy. Coast's [product documentation](https://coastpay.com/integrations/) describes moving receipts and transactions into accounting software and assigning purchases to jobs in field-service systems. Customers keep their operational software; Coast aims to remove manual handoffs around the payments. ## Who pays—and what it costs [Published pricing](https://coastpay.com/pricing/), checked October 23, lists **$4 per active user per month** for cards and expense management. Twenty active users would therefore cost $80 monthly in subscription fees, before other charges. Bill Pay has a separate **$99 monthly platform fee**, including 100 standard bank transfers and 100 standard checks. Additional payments and faster payment methods can incur fees. The card subscription does not make every payment service free, and the published prices alone do not reveal Coast's revenue or margins. ## Why the investor is backing the expansion Thomvest already lists Coast in its [portfolio](https://www.thomvest.com/portfolio). In a statement included in Coast's financing release, managing director Don Butler describes payments and credit controls embedded in industry workflows as the investment thesis. VCT's assessment is that the valuable connection is between spending and the underlying job: which driver, vehicle, supplier or project incurred the cost. Intuit's participation fits that direction, but it is not evidence of an exclusive distribution agreement or guaranteed customer growth. ## Two recent bets on fleet finance infrastructure **Piston announced a $15M Series A on September 10, 2026**, led by FPV Ventures. Its [issuer release](https://markets.financialcontent.com/lightport.lightport3/article/accwirecq-2026-9-10-piston-raises-15-million-to-scale-the-infrastructure-layer-for-logistics-commerce) describes cardless fuel payments tied to a driver and vehicle. It is a close payments alternative, with a different acceptance network from Coast's card approach. **Terminal announced a $20M Series A on July 29, 2026**, led by Battery Ventures. Its [company release](https://www.prnewswire.com/news-releases/terminal-raises-20-million-to-scale-market-leading-telematics-integration-technology-for-fortune-500-companies-across-insurance-fleet-management-and-logistics-302837250.html) describes connecting fragmented vehicle-data systems. Terminal is adjacent infrastructure, rather than a competing corporate card. Together, these deals show investment flowing into both payments and the fleet data needed to control them. Coast's next test is whether customers adopt the broader bill-paying service and save enough work to justify switching. Retention, paid product adoption and servicing costs will say more about that outcome than the size of the financing. **By:** [Venture Capital Tracker](https://venturecapitaltracker.com/editorial-policy) **Editorial note:** AI tools assisted with research, structure, or drafting. Venture Capital Tracker retains human editorial responsibility for factual accuracy, relevance, and source quality before publication.