The round includes $25 million in equity capital led by existing investors, including BoxGroup, Avid Ventures, Accel, Insight Partners, and Better Tomorrow Ventures, as well as new investor Vesey Ventures. The company also secured $67 million in committed debt capital from Silicon Valley Bank and TriplePoint Capital.

Coast is re-imagining the trillion-dollar US B2B card payments infrastructure, with a focus on the country's 500,000 commercial fleets, 40 million commercial vehicles, and many million commercial drivers. Drivers, fleets, and the merchants that serve them all increasingly demand modern digital payments experiences and affordable and transparent financial services products. Coast's mission is to deliver them at a transformational scale and to improve working lives in one of the country's biggest industry sectors. Coast is founded and led by Daniel Simon, who previously co-founded digital payments platform Bread (breadpayments.com), which was acquired by Alliance Data Systems for more than $500 million in 2020.