Ofiniti Raises $6.8M Growth Financing for Digital Bunkering
Ofiniti, an Oslo- and Singapore-based operational platform for bunkering, has raised $6.8M in growth financing led by Verb Ventures and co-led by ShipsFocus. FuelBoss digitizes planning, execution, real-time monitoring, and documentation of marine fuel deliveries, including electronic Bunker Delivery Notes (eBDNs) for compliance. The capital will accelerate international scaling into hubs like ARA, West Africa, and Scandinavia.
Singapore Mandate Fuels Digital Shift
The round arrives as Singapore's Maritime and Port Authority mandates eBDNs from April 2025, the world's top bunkering port. Ofiniti claims 40% market share there, processing 25,000+ operations in 2025 including 500,000 tonnes of alternative fuels. ZeroNorth holds $100M+ in funding including $20M debt in 2025 for broader maritime optimization. Ofiniti differentiates with end-to-end bunkering for all fuel types from LNG to ammonia.
Paperwork Delays Cost Millions
Bunkering remains analogue, with manual processes causing idle time and errors amid rising alternative fuels and regulations. Ofiniti's platform cuts 45 minutes per delivery, yielding $8M+ in customer savings and 40,000 man-days annually across 24,000+ operations. Singapore's mandate targets these inefficiencies in a $105B market projected at 5.8% CAGR through 2032.
FuelBoss Enables Multi-Fuel Compliance
FuelBoss supports offline use on any device, real-time coordination, safety checklists, and eBDNs compliant with Singapore MPA whitelist. It handles all fuels including LNG, biofuels, methanol, and ammonia, digitizing $500M+ in transactions. The March 2025 acquisition of Angsana Technology integrates BunkerFlow and DocuFlow, bolstering Asia presence.
Customers like Gasum and TotalEnergies deploy it globally, with ISO 27001:2022 certification ensuring security.
DNV Spin-Out Secures Growth Capital
DNV Ventures participated as largest shareholder post-September 2024 spin-out, signaling strategic validation. Nysnø Climate Investments backs the alternative fuels focus. Verb Ventures partner Alex Chikunov highlighted the platform's necessity from Singapore to EU emissions rules.
As CEO Tue Nielsen noted:
"Our customers are managing more fuel types, across more ports, under more demanding documentation requirements than ever before… This funding enables us to serve more customers, in more markets."
$105B Bunkering Eyes Digital Upgrade
The global bunkering services market hits $105B in 2026, with digital segments growing at 14.2% CAGR. Bunkering management software stands at $1.24B in 2024, eyeing $2B+ by 2030 at 10%+ CAGR. LNG bunkering alone projects $2.04B in 2026 to $5.52B by 2032.
Competitors like TradeGo and Bunkerchain focus on eBDNs or blockchain, while ADP Clear offers documentation only. Ofiniti's comprehensive platform leads in Singapore at 40% share and 70% LNG bunkering.
DNV Veterans Drive 10x Growth
Co-founders David Gulbrandsen (CPO) and Jon Anders Ryste built FuelBoss at DNV, achieving 10x ARR post-spin-out. New CRO Hans-Christian Mordhorst brings 30+ years from Maersk and Marcura. Recent hires include APAC MD Collin Ng (ex-Equatorial Marine Fuels) and sales leads, supporting 50+ customers.
Hires and Hubs Target Global Hubs
Funding fuels hires in customer success and commercial roles, plus expansion via Copenhagen and Dubai offices. Plans include 10x alternative fuel growth in 2026 and penetration of ARA, West Africa, Scandinavia amid EU FuelEU regs. Partnerships like Azane Fuel Solutions advance ammonia readiness.