What Veri-Fuel does

Veri-Fuel is a privately-held US software company operating in the downstream energy sector, providing a digital marketplace platform that connects fuel buyers and fuel sellers for collaborative procurement. Founded in 2011 and headquartered in Fort Mill, the company targets the entire downstream energy supply chain with a B2B platform that is positioned as the industry's first collaborative fuel procurement network. Customer segments are horizontal: fuel buyers seeking cost-effective procurement and fuel sellers seeking access to buyer networks and efficient bidding tools.

The company's flagship product is FuelConnect 360, branded as the Veri-Fuel Digital MarketPlace, which combines an RFP engine, automation module, seller network database, SmartContract execution, in-app messaging, integration services, and a Price Index Analyzer. The platform is built on AWS infrastructure (IaaS plus PaaS), with modular architecture that supports data subscriptions and third-party application development. Veri-Fuel claims its RFP engine is the industry #1 and that its Integration Services are positioned to become the most sophisticated data hub in the petroleum space.

The business model is transaction-fee based, monetizing the marketplace by connecting buyers and sellers and delivering demonstrable ROI to trading partners. The go-to-market is sales-led with a self-service digital platform layered on top, targeted at enterprise fuel buyers and sellers across the United States. Pricing is not publicly disclosed, and revenue, funding, and headcount figures are not available in the source data. The firm operates with a small team of 1-10 employees and has no disclosed institutional investors, parent company, or M&A activity.

Name

Veri-Fuel

Legal name

Veri-Fuel

Website

https://veri-fuel.com

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

1–10 employees

Short description

Veri-Fuel is a private US software firm that operates FuelConnect 360, a digital marketplace connecting fuel buyers and sellers in the downstream energy industry with RFP automation, smart contracts, and pricing analytics.

Ownership category

akta.pro rank

Product category

Fuel Procurement Software

akta.pro primary industry

Fuel Pricing, Loyalty & Payments Platforms (POS, Mobile Pay, Fleet Cards, Loyalty Programs) (EUALAIAK)

Keywords

• Fuel procurement software
• Digital marketplace platform
• RFP automation engine
• Downstream energy software
• Fuel bidding platform

Headquarters

HQ city

Fort Mill

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Infrastructure, Personnel, Operations, Marketing or Sales

Revenue model

1. Digital Marketplace Platform: Platform fees or transaction-based revenue from connecting fuel buyers and sellers through the Veri-Fuel Digital MarketPlace. The platform enables collaborative fuel procurement with ROI delivered to all trading partners.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Veri-Fuel operates the FuelConnect 360 digital marketplace platform that connects fuel buyers and fuel sellers in the downstream energy industry, enabling RFP-based bid management, automated procurement workflows, contract verification via SmartContracts, in-app communications, and daily pricing/index comparison. The platform is built on AWS cloud infrastructure and is positioned as the industry's first collaborative fuel procurement network delivering demonstrable ROI to all trading partners.

Product overview

Veri-Fuel offers a unified digital marketplace platform for the downstream energy industry. The core offering is the Veri-Fuel Digital MarketPlace, which includes the flagship RFP Engine for bid management. Additional integrated modules include the Automation Module for digital process management, Seller Network for vendor relationships, SmartContract for contract enforcement, InApp & Message for communications, Integration Services for petroleum industry data connectivity, and the Price Index Analyzer for pricing analysis. Together these components provide a complete eBusiness data and communications solution for the fuel supply chain.

Differentiator

Problem solved

Functional benefit

Brands

• FuelConnect 360: Cloud-based fuel procurement platform providing RFP engine, automation, smart contracts, messaging, integration services, and price index analysis for fuel buyers and sellers.

Products and services

• Veri-Fuel Digital MarketPlace (FuelConnect 360) Cloud-based collaborative fuel procurement network and digital marketplace that connects fuel buyers and fuel sellers in the U.S. downstream energy industry, providing collaboration tools for cost-effective electronic data communications and demonstrable ROI to all trading partners; built on AWS IaaS + PaaS infrastructure with modular architecture.
• Industry's #1 RFP Engine Request-for-Proposal engine for fuel buyers and sellers that gives both parties complete control and security in the bid process, with supporting automation, SmartContract verification, and a national Seller Network for competitive bid management.

Quantifiable outcome

• Demonstrable ROI to all trading partners

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

One partnership is on record.

• AWS (Amazon Web Services)coreTechnology or IntegrationAWS provides cloud infrastructure for Veri-Fuel's data center needs. AWS offers secure, highly available data center facilities with highly redundant network designed to provide customers with continual uptime and reliable performance. Veri-Fuel leverages AWS and Amazon cloud-based virtual server infrastructure.

Scale indicators1 record

Recent moves6 records

Expansion highlights3 records

Direct peers

• OPIS: OPIS (Oil Price Information Service) provides daily fuel pricing benchmarks, news, and analytics for downstream energy markets. It is the most direct comparable to Veri-Fuel's Price Index Analyzer and broader fuel procurement intelligence layer, and it represents the dominant incumbent in the niche Veri-Fuel targets.
• DTN: DTN provides operational decision-support tools, weather, and pricing/analytics for agriculture, energy, and downstream fuel markets. It overlaps directly with Veri-Fuel on fuel pricing intelligence and serves a similar downstream fuel buyer base, making it a strong functional peer.
• Argus Media: Argus Media publishes independent price benchmarks and market intelligence across refined products, crude, and downstream fuels. It competes with Veri-Fuel on the fuel price intelligence and data layer and overlaps on serving fuel buyers/sellers with market-moving information.

Broad incumbents

• Intercontinental Exchange (ICE): ICE operates global energy commodity exchanges and benchmarks, including refined product futures (e.g., heating oil, RBOB gasoline). As a broad incumbent in energy trading infrastructure, ICE is the downstream reference point against which any B2B fuel procurement/data platform competes for buyer attention and workflow share.
• E2open: E2open is a supply chain management platform with strong energy and downstream fuel exposure, offering trading partner connectivity, order management, and logistics orchestration. As a broad incumbent in supply chain software for the fuel industry, it is a relevant adjacent peer to Veri-Fuel's buyer/seller digital marketplace thesis.
• S&P Global Commodity Insights (formerly Platts): S&P Global Commodity Insights is the largest commodity benchmark provider globally, with Platts benchmarks underpinning refined product pricing worldwide. As a broad incumbent with deep data assets, it sets the standard Veri-Fuel's Price Index functionality must compete against.

Emerging players

• Vortexa: Vortexa provides real-time global oil and refined product cargo tracking and analytics through a digital marketplace and intelligence platform. It is comparable to Veri-Fuel as a digital, data-driven platform serving downstream oil product buyers and sellers with workflow and pricing information.
• Xpansiv: Xpansiv operates digital marketplaces for environmental and energy commodities, connecting buyers and sellers of credits and physical commodities. While more focused on environmental commodities, its marketplace model and energy buyer/seller network orientation parallel Veri-Fuel's platform thesis.
• Kpler: Kpler is a fast-growing commodity intelligence platform providing data, analytics, and workflow tools for oil, gas, and refined product markets. Its product breadth and buyer-side workflow orientation make it a relevant emerging competitor to Veri-Fuel's downstream fuel procurement intelligence.

Others

• Keelvar: Keelvar provides AI-driven procurement optimization and sourcing automation for direct and indirect spend, used by large enterprises across categories including energy. It is adjacent to Veri-Fuel — addressing the same procurement workflow but without Veri-Fuel's vertical specialization in downstream fuel pricing.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Veri-Fuel