Coast, a FinTech offering fuel cards, corporate cards and spend management to field-based businesses, has secured $35m in fresh capital to grow its offering into a wider financial operating system for the sector.

Thomvest Ventures led the round, with Intuit Ventures, Small World Capital and Alpha Square Group joining as new backers. Existing investors including ICONIQ Growth, Accel, Insight Partners, Better Tomorrow Ventures, Avid Ventures, Vintage Investment Partners, Colle Capital, Synchrony, RXR and The Fintech Fund also took part.

Thomvest first backed Coast in 2024, and the company said Intuit Ventures’ involvement brings it closer to an integration partner already central to the operations of many of its clients.

The investment comes as the rapid build-out of AI data centres drives heightened activity across construction, HVAC, electrical, utility and transportation work. Demand for HVAC engineers has climbed by close to 78% since 2022, while vacancies for electricians, welders and construction specialists have risen by 30%. According to Coast, as these firms scale and their operations become more complicated, many still rely on a patchwork of general-purpose cards, banking services and fleet products that were never built with their needs in mind.

The new funds will support three main areas. The first is AI-driven savings and automated expense management for field services, steering drivers towards the most cost-effective fuel and purchases while handling approvals and reconciliation without manual effort.

The second is a broader payments and finance offering, including Bill Pay and accounts payable products, allowing supplier invoices to sit alongside card spending in a single view.

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