Three PH firms included in Forbes Asia's '100 to Watch' list 2025
GMA Integrated News
26 Aug 2025
Three Philippine companies were included in Forbes Asia’s annual ‘100 to Watch’ list for 2025, which highlights small firms and startups in the Asia-Pacific region with up to $50 million in annual revenue, and up to $100 million in total funding.
According to Forbes Asia, this year’s list showcases a range of startups in fields such as biotechnology, space technology, and green technology, with India leading the pack with 18 companies, followed by Singapore and Japan with 14 each, Indonesia and South Korea with eight each, and Australia with seven.
“They are utilizing advanced technologies like AI to enhance their products, which include gene-editing tools and propulsion systems for spacecraft. As a clear indication of their potential, these 100 startups have raised a combined total of nearly US$3 billion in funding to date,” Forbes Asia editorial director Rana Wehbe Watson said.
The listees are grouped under 10 categories, with the largest cohort in biotechnology and healthcare with 18, followed by enterprise technology and robotics with 16.
The Philippine companies included in this year’s list are the following:
Enstack
The e-commerce and retail firm was founded in 2021, and offers an AI-assisted app that can be used to design web stores. It has been downloaded over 100,000 times from Google Play, and expanded into Thailand this year. It has raised $3 million in total funding from backers such as BlackPine, Mangrove Capital Partners, Unifer Ventures, and Xendit.
NetBank
Founded in 2019, NetBank provides digital financial services such as loan management, and payments and disbursements. Its backers Beenext and Kaya Founders, and counts Smart Money, TikTok, and Lazada as clients. It posted a net profit of P22.2 million or $390 million in the first half of 2025, driven by the strong loan growth and the rise in deposits.
Xpress Super App
The consumer technology company was founded in 2022, offering ride-hailing, delivery, and courier services through its application. It was co-founded by PJ Lhuillier Group president and chief executive officer Jean Henri Lhuillier and AppFactoric founder Nathan Taylor, and now has over 100,000 downloads in Google Play while a separate app for its driver community has over 10,000 installs.
The finalists were selected from online submissions that were solicited, along with the nominations from accelerators, incubators, universities, venture capitalists. They were chosen based on factors such as impact on and contribution to their industry and region, market fit, promising business model, innovation, track record, and their ability to attract funding. —KG, GMA Integrated News
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