Coast

Provides smart fleet cards for fuel management

New York City, New York, United States

About Coast

CoastPay provides smart fleet cards designed for businesses with fleet operations, such as delivery and transportation companies. These cards help businesses manage and monitor their fuel spending by allowing them to set spending limits and restrict expenses to fuel only. This control reduces overspending and prevents fuel theft. CoastPay's cards are interchangeable and can be quickly activated or deactivated, enhancing security and convenience for businesses. The company generates revenue through service fees but also offers rebates and cashback, which can lead to significant savings for its clients. CoastPay differentiates itself by providing personalized, US-based support, making it easier for businesses to implement and manage their fleet card systems. The goal of CoastPay is to improve business efficiency and reduce costs associated with fleet management.

New York City, New YorkHeadquarters
2020Year Founded
$95.8MTotal Funding
SERIES_BCompany Stage
Fintech, Financial ServicesIndustries
51-200Employees

Benefits

Medical, dental, & vision coverage
Meaningful stock options
Flexible vacation policy
Proudly built in NYC

Risks

Increased competition from integrated solutions like FleetUp and RoadFlex.
60% of construction companies report wasteful spending and fleet card abuse.
Reliance on Visa ties Coast's success to Visa's strategic decisions.

Differentiation

Coast offers smart fleet cards with customizable spending limits for businesses.
Their platform integrates with telematics for real-time data and improved expense management.
Coast provides US-based personalized support, enhancing client experience and system management.

Upsides

Coast raised $40M in Series B funding, indicating strong investor confidence.
The company grew 10x in revenue and payment volume over 18 months.
Integration with Visa enhances Coast's credibility and market reach.