Coast, a New York-based fintech startup, has raised $35 million to expand a platform that gives businesses more visibility into what employees buy with company credit cards. Thomvest Ventures led the growth equity round, joined by new investors Intuit Ventures and Small World Capital.
Matching purchases to where the truck actually is
The company pairs company payment cards with software built for industries like plumbing and construction, where workers routinely carry cards to buy fuel and supplies in the field. A worker picks up a card and checks in by text or app, linking the card to their identity and the spending limits their employer has set. Coast can then cross-reference vehicle location data against where a purchase is made — for instance, checking whether a company van is actually at the gas station where its card was swiped — and block the transaction if the locations don't match.
