Five Elms Capital invests in DashFuel
Five Elms Capital has made an undisclosed growth investment in DashFuel, a 2022-founded software provider for petroleum wholesalers, carriers and retailers.
Five Elms Capital has completed a growth investment in DashFuel, a software company that serves fuel distributors. Financial terms were not disclosed. The company plans to put the capital toward platform and AI development, sales expansion and customer success.
DashFuel's cloud system handles quoting, tank monitoring, dispatch, delivery, billing reconciliation and back-office integration for petroleum wholesalers, carriers and retailers. CEO Miles Moen founded the business in 2022.
Five Elms partner Thomas Kershisnik said the market is large and still relies on legacy technology. The firm invests in B2B software for vertical markets, manages more than $3 billion and has backed over 70 software platforms.
Deal facts
- Target
- DashFuel
- Business
- Cloud software for fuel distributors covering quoting, tank monitoring, dispatch, delivery, billing reconciliation and back-office integration
- Buyer
- Five Elms Capital
- Sponsor
- Five Elms Capital
- Deal type
- Investment
- Status
- Completed
- Announced
- Wednesday, October 21, 2026
Sources
- Private Equity ProfessionalOct 25, 2026
Written by Buyout Desk from the sources above. Spotted an error? Email corrections@buyoutdesk.com.