DashFuel, a US-based software company serving the petroleum distribution industry, announced a growth investment from Five Elms Capital on October 21, 2026. The financial terms of the investment were not disclosed.
Founded in 2022 and led by Founder and CEO Miles Moen, DashFuel provides a cloud-based operating platform for petroleum wholesalers, fuel carriers and retailers. Its software brings together fuel quoting, tank monitoring, dispatch, delivery management, billing reconciliation and back-office integrations to help businesses manage their operations through a single system.
The platform connects different stages of the fuel distribution process, from pricing and order management to delivery and invoicing. It also supports data synchronization between drivers, dispatchers and accounting teams, helping operators reduce manual processes and manage operational information across their businesses.
DashFuel plans to use the investment to enhance its core software platform and develop additional AI-powered automation and workflow intelligence capabilities. The company also intends to expand its go-to-market operations, grow its team and continue investing in customer support as it serves more petroleum distribution businesses across the United States.
Five Elms Capital is a Kansas City-based growth investment firm focused on business-to-business software companies. The firm manages more than $3 billion in assets and has invested in over 70 software platforms globally.
Thomas Kershisnik, Partner at Five Elms Capital, identified DashFuel’s integrated software capabilities and customer relationships as important factors behind the investment. Five Elms will support the company’s product development and commercial expansion.
