Three emerging companies from the Philippines have been recognized in Forbes Asia’s “100 to Watch” list for 2025, an annual compilation that celebrates promising startups and small enterprises across the Asia-Pacific. The recognition highlights firms generating annual revenues below US$50 million and with funding of up to US$100 million, underscoring their potential for long-term growth.
Regional Startup Landscape
This year’s lineup underscores the thriving spirit of Asia-Pacific entrepreneurs, as companies push boundaries in biotech, sustainable energy, space ventures, and enterprise technology. India dominated the lineup with 18 representatives, while Singapore and Japan each produced 14. Indonesia and South Korea followed with eight apiece, and Australia contributed seven. Altogether, the 100 featured startups have attracted nearly US$3 billion in investments.
“These startups are leveraging sophisticated technologies, including artificial intelligence, to develop products such as gene-editing platforms and spacecraft propulsion systems,” Forbes Asia editorial director Rana Wehbe Watson said, noting that their progress demonstrates the strength of innovation across the region.
Philippine Firms in the Spotlight
The Philippine entries on the list highlight the country’s growing innovation ecosystem:
- * E-commerce and Retail Startup (established 2021): Created an AI-driven app that enables users to design online shops quickly. The app has surpassed 100,000 downloads and recently entered the Thai market. Backed by investors such as BlackPine, Mangrove Capital Partners, Unifer Ventures, and Xendit, the firm has raised US$3 million in total funding.
- * NetBank (founded 2019): A digital financial services provider that manages loans, payments, and disbursements. Supported by Beenext and Kaya Founders, NetBank serves clients like Smart Money, TikTok, and Lazada. The company recorded ?22.2 million (around US$390,000) in net profit for the first half of 2025, fueled by loan expansion and higher deposits.
- * Xpress Super App (launched 2022): Offers ride-hailing, courier, and delivery services through its mobile platform. It was co-founded by Jean Henri Lhuillier, CEO of PJ Lhuillier Group, and Nathan Taylor of AppFactoric. The app now exceeds 100,000 downloads, with its driver-focused app tallying over 10,000 installs.
Selection Process
Nominees were drawn from submissions and recommendations by accelerators, incubators, universities, and venture capital groups. Forbes evaluated them on innovation, industry contribution, market traction, funding capability, and overall growth prospects.
