Coast

Founded in 2020, Coast offers an expense management platform and fuel and virtual business cards tailored specifically for fleet-operating businesses and their employees across industries such as trucking companies, plumbers, HVAC businesses, and last-mile delivery companies. The platform provides detailed visibility into employee spending at the line-item level, allowing businesses to track information like fuel-grade purchases and vehicle-specific expenses.

Coast integrates with vehicle telematics and fleet management software, including Verizon Connect, Fleetio, Samsara, and Onestep GPS, to provide real-time data on vehicle status and location. It also offers features like SMS-based mobile sign-in and data collection for improved security and convenience.

Coast generates revenue through interchange fees from merchant transactions and users, charging a flat monthly subscription fee per actively used card.

The firm claims its smart fleet fuel cards offer greater security by preventing misuse, insights with automatic capture of fuel transaction data, cost savings that reduce customer bills by an average of 10%, and monthly time savings of ~16 hours on operations and accounting functions.

Key customers and partnerships

As of July 2024, the firm claimed to serve 1,000+ firms of all sizes ranging from SMEs to fleet operators, including Texas Solar Outfitters, Giillette, and Tristate.

Coast has partnered with 17,000+ fuel stations and retailers like 7-Eleven, Speedway, RaceTrac, Discount Tire, and Casey's, offering cash rebates on fuel purchases, where it offers 1% cashback and saving of upto 10 cents per gallon.

In March 2024, Coast partnered with digital payments leader Visa to expand its financial tools offered to fleet management firms.

Key competitors: None comparable (Coast is the only firm we have identified that provides specialized expense management solutions for businesses operating vehicle fleets.)