+33%

est. 2Y upside i

FinTechVertical SaaSSeries B

Demo Platform for API-First Companies

Rank

#2367

Sector

Fintech, Payments, Fleet Management

Est. Liquidity

~5Y

Data Quality

Data: Low

Coast has genuine product differentiation in a large market and blue-chip institutional backing, but the equity picture is complicated on a 2-year horizon.

Last updated: May 14, 2026

Bull (18%)+175%

Coast reaches $50M+ ARR by 2027, attracting a strategic acquirer such as WEX or Corpay — or achieving IPO readiness — at roughly $1.1B (~22x forward revenue), implying ~175% upside from an estimated ~$400M current valuation. ICONIQ's backing and the Visa co-brand partnership accelerate enterprise fleet penetration, and common shareholders benefit meaningfully above the $193M senior preference stack.

Base (55%)+30%

Revenue grows to ~$35M by 2027 and Coast raises a Series C at ~$520M post-money (~15x revenue), yielding ~30% paper upside from today's estimated ~$400M valuation. Liquidity remains 4–6 years away with further dilution from future rounds, limiting any near-term realized return for employees.

Bear (27%)-55%

Growth disappoints as Brex or Ramp launches fleet-specific features, or SMB fleet spending softens in a macro slowdown; Coast raises a down round at ~$180M or faces an acqui-hire, eroding ~55% of equity value from the estimated ~$400M valuation. The $193M preference stack means common stockholders receive near-zero proceeds in any sub-$200M exit.

Est. time to liquidity~5.0 years

Preference Stack Risk

severe

Funding Intensity

48%

$193M in cumulative liquidation preferences against an estimated ~$400M valuation means preferred stock absorbs roughly 48% of current enterprise value before common (employee) equity participates in any proceeds.

Dilution Risk

high

As a Series B company likely 4–6 years from liquidity, expected Series C and D raises will probably dilute current grants by 20–35% before any exit closes.

Secondary Liquidity

limited

No active secondary market signals detected; occasional tender offers are possible given ICONIQ's portfolio management practices, but employee liquidity prior to an IPO or acquisition remains unlikely.

Other — 17 roles

View all 17 open roles at Coast →

Last updated: March 10, 2026

Questions to Ask at the Interview

Strategic questions based on Coast's data — designed to show you've done your homework.

  • 1

    “Fleet payments is increasingly crowded — what specific data assets or software integrations give Coast durable pricing power if Brex or Ramp launches a fleet-specific tier?”

  • 2

    “What is the current revenue split between interchange fees and SaaS/subscription revenue, and what is the target mix as you scale to $50M ARR?”

  • 3

    “Has the board authorized any secondary tender offers for employees, and what is the current thinking on timeline to a liquidity event given the $193M in cumulative preferred?”

Community

Valuation Sentiment

Our model estimates +33% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.