Investment to Accelerate DashFuel's Mission to Modernize Operations for Petroleum Wholesalers and Fuel Carriers
SAN FRANCISCO, October 21, 2026 /PRNewswire/ -- DashFuel, a platform for petroleum wholesalers, carriers, and retailers, announced a growth investment from Five Elms Capital. The partnership will accelerate DashFuel's product roadmap and go-to-market efforts, while growing the team to better serve a rapidly expanding customer base.
Petroleum distribution is one of the most operationally demanding industries in the economy, requiring operators to manage pricing volatility, multi-step logistics coordination, and complex regulatory compliance — often across disconnected systems and manual workflows. DashFuel, founded in 2022, is purpose-built for the operational complexity of petroleum distribution
The platform unifies quoting, tank monitoring, dispatch, delivery, billing reconciliation, and back-office integration into a single cloud-native system, giving petroleum operators the visibility, automation, and control to run more efficiently and profitably. That depth earns DashFuel a mission-critical role in daily operations and translates into measurable outcomes for customers. Paired with a relentless focus on customer support, it has allowed DashFuel to build deep trust with a rapidly growing customer base and sustain exceptional retention.
“Petroleum distribution runs on thin margins and moves fast — prices shift multiple times a day, and a single operational miss can cost thousands of dollars and a customer relationship,” said Miles Moen, Founder & CEO of DashFuel. “We built DashFuel to give operators the infrastructure to compete: real-time visibility, intelligent automation, and end-to-end workflow control that the industry has long needed. This investment lets us build faster and reach more of the market that needs it.”
With Five Elms' backing, DashFuel will deepen and expand its core platform capabilities, including continued investment in AI-powered automation and workflow intelligence. The company will also build out its go-to-market and customer success functions to support a growing customer base and drive deeper platform adoption across the industry.
Thomas Kershisnik, Partner at Five Elms Capital, commented on the investment: “DashFuel has built something genuinely rare: a modern, end-to-end platform with a team that has earned deep customer trust by delivering real, measurable results. The petroleum distribution market is large, underserved by legacy technology, and ready for a purpose-built solution like DashFuel. We're excited to partner with Miles and the team as they scale."
About Dashfuel
DashFuel is an operating platform for petroleum wholesalers and fuel carriers. The platform consolidates quoting, tank monitoring, dispatch, delivery, billing, reconciliation, and back-office integration into a single system — enabling wholesalers and carriers of every size to automate manual workflows, capture more margin, and scale operations without adding headcount. Trusted by a rapidly growing customer base across the United States, DashFuel has achieved impressive gross and net revenue retention. Founded in 2022, DashFuel is purpose-built for the operational complexity of petroleum distribution. For more information, please visit dashfuel.com.
About Five Elms
Five Elms Capital is a growth investor in software businesses that users love, providing capital and resources to help companies accelerate growth and further cement their role as industry leaders. With over $3 billion in assets under management and a team of over 80 professionals, Five Elms has invested in more than 70 software platforms worldwide. Beyond providing capital, Five Elms delivers strategic and operational expertise, focused on executing initiatives that move the needle on growth, retention, product, and AI to set companies up for long-term success. For more information, visit fiveelms.com.