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TLDR:
- Coast raises $25 million in equity and $67 million in debt financing.
- Fintech Nexus Newsletter highlights the verticalization of fintech and Coast’s focus on “real-world” businesses.
In the midst of the 2021-22 fintech VC boom, spend management was a popular sector, with companies like Brex and Ramp raising large rounds. While the sector has cooled off, Coast, a company founded in 2020, announced a new round of funding: $25 million in equity and $67 million in debt financing. Unlike other players in the expense management arena, Coast is targeting “real-world” businesses with field personnel and vehicle fleets, such as plumbing and delivery companies. This move showcases the verticalization of fintech and the potential for cutting-edge expense management technology in underserved markets.
The Fintech Nexus Newsletter also explores other key topics in the fintech industry, including AI, blockchain, and lending. Notable news includes TruStage’s innovative digital lending insurance solution and the rise of Banking as a Service (BaaS) in driving financial inclusion for the unbanked and underbanked populations. The newsletter also covers global trends in the banking industry, such as the adoption of digital wallets in the UK and the hiring of financial executives by fintech companies like Varo. Overall, the newsletter provides a comprehensive overview of the latest developments in the fintech space.
