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- Coast Raises $40M in Series B Financing Led by ICONIQ Growth
Coast Raises $40M in Series B Financing Led by ICONIQ Growth
Slice of Finance Team
22 Jul
Key Highlights:
Coast raises $40M in Series B funding, led by ICONIQ Growth.
Strategic investment from Synchrony, enhancing fleet management capabilities.
Introduction of a groundbreaking mobile app for fleet payment data verification.
Coast's total equity financing reaches nearly $100M.
New partnerships with BuildOps, Sheetz, and 7-Eleven.
Source (PR Newswire)
Notable Quotes:
"We're thrilled to be partnering with ICONIQ Growth, a legendary investor in fintech, and fleet and field services. ICONIQ brings to bear not just their deep capital base but also their rich experience in Coast's domains and expansive community."
"We believe Daniel and team are using exceptional software to challenge incumbents in a massive market and making a difference in hundreds of thousands of American businesses."
Our Take:
Coast’s recent $40M Series B funding round, led by ICONIQ Growth and supplemented by a strategic investment from Synchrony, marks a significant milestone in its mission to revolutionize fleet and fuel spending management in the U.S. The introduction of an innovative mobile app to streamline transaction data collection and verification is a testament to Coast's commitment to leveraging technology for efficiency. With this substantial capital injection, Coast is well-positioned to enhance its product offerings, forge new partnerships, and expand its footprint in the fintech and fleet management sectors. The company's impressive growth trajectory and strategic alliances underscore its potential to set new standards in the industry.