Utility supplier specialist to the lettings industry, Spark Energy, has been named among the 58 fastest-growing young UK technology businesses.

The accolade for the energy provider is from Silicon Valley Comes to the UK (SVC2UK), which annually chooses companies to join its Scale Up Club.

This year’s club is made up of tech businesses from across a range of sectors, with an average growth rate of 110%.

The initiative seeks to support “promising” companies to “scale up effectively” by offering a year-round programme of mentoring sessions, networking events and workshops.

Spark CEO Chris Gauld was invited to a CEO Summit at the London Stock Exchange, with Silicon Valley companies giving advice.

He said: “The fact that Spark was identified as fitting into this exclusive club is a massive confidence boost and recognition of what we have achieved in the last year. A special time for the business is coming closer.”

Spark, which is the only UK energy company specialising in the lettings market, now employs over 300 people in its Selkirk headquarters and is approaching the point at which it becomes a medium-sized energy provider with the resultant statutory obligations. Spark’s turnover last year was £84m.

SVC2UK was founded nine years ago by Ellen Levy, Reid Hoffman (founder of Linkedin) and Sherry Coutu (the first angel investor in Zoopla and now on its board) to support entrepreneurs in the UK.

It brings leading Silicon Valley entrepreneurs, investors and thought leaders to the UK to explore ideas and to ignite local entrepreneurship.