Coast Raises $35 Million to Add AI Expense Automation for Physical-Economy Businesses
Thomvest Ventures led the growth-equity round for the fleet and field-service financial platform, with new capital earmarked for accounts payable, bill pay and embedded partnerships.
NEW YORK — Coast announced on Oct. 22, 2026 that it raised $35 million in growth equity led by Thomvest Ventures. Intuit Ventures, Small World Capital and Alpha Square Group participated alongside existing investors including ICONIQ Growth and Accel.
Coast provides a financial operating system for businesses in the physical economy, including construction, HVAC, plumbing and transportation. Its products connect company spending and expense controls to the operational workflows of businesses whose costs often occur in vehicles, at job sites or across distributed field teams.
The company plans to use the capital to expand AI-powered expense automation, launch accounts-payable and bill-pay products, and deepen embedded partnerships with fleet and field-service platforms. Moving into bill pay would give Coast more control over a business’s outgoing cash workflows, but it also introduces reconciliation, authorization, fraud and supplier-onboarding requirements.
The announcement does not include independent measures of Coast’s customer base, payment volume or AI-driven savings. The funding signals continued investor interest in vertical fintech, while the product expansion will be judged on whether automation works in messy real-world operations where receipts, fuel purchases, job codes and approvals rarely arrive in a uniform format.