68. Universal Fuels

The ambitious 20-year-old entrepreneur supplying diesel, petrol and kerosene to the UK

Founder: Oliver Morgan
Founded: September 2009
Website: www.universalfuels.co.uk

Eschewing traditional forms of financing, oil supplier Universal Fuels secured £100,000 from crowdfunding website Crowdcube at the start of this year. Investors saw potential in the company, founded by 20-year-old Oliver Morgan, which delivers diesel, petrol and kerosene – as well as its own brand ‘universal lubricants’ in bulk across the country.

Growth potential is significant, with the company planning to enter the gas and electricity market in the next 12 months, as well as continuing to expand quickly in oil. While Oliver believes the recession has hindered growth, he still believes the company can achieve its goal of reaching £100m in revenues in the next four years.

Startups 100 by Startups.co.uk