Three Filipino companies made it in Forbes Asia’s “100 to Watch” list, which recognizes rising startups and small companies in the Asia-Pacific region.
These companies are Enstack (e-commerce), Netbank (finance), and Xpress Super App (consumer technology).
In its citation, Forbes noted that Enstack, founded in 2021 by Macy Castillo, caters to small and midsized businesses wanting to build an online retail presence.
The company’s AI-assisted app can be used to design web stores—including logos—and write product blurbs. The app also helps its clients manage invoices and payments, ship packages, and track inventory.
It’s been downloaded more than 100,000 times from Google Play and expanded this year into Thailand. It has raised $3 million (P170.6 million) in total funding from the likes of Xendit, Mangrove Capital Partners, BlackPine, and Unifier Ventures.
Founded in 2019 by Gus Poston, Netbank offers digital financial services like loan management, payments, and disbursements for the country’s fast-growing fintech community and other businesses—through a rural bank it acquired in 2019.
Its clients include Smart Money, TikTok, and Lazada, while its backers include Beenext and Kaya Founders.
During the first half of 2025, Netbank made P22.2 million in net profit, from a loss of P34.9 million, through strong loan growth and a rise in deposits.
Xpress Super App—founded in 2022 by AppFactorie founder Nathan Taylor and PJ Lhuillier Group president and chief executive officer Jean Henri Lhuillier—offers ride-hailing, delivery, and courier services.
The company plans to add flight and ferry bookings, reservations for activities, and a digital payment option in its app, according to Forbes.
In May, it had 40 BYD electric and hybrid vehicles for hire and is looking to expand its green fleet. Driver can access loans to own their EVs via the group’s financing arm.
The app has over 100,000 downloads on Google Play, while a separate app to support its driver community has over 10,000 installs.
In selecting companies in the list, Forbes said it solicited online submissions, as well as invited accelerators, incubators, universities, venture capitalists, and others to give nominations.
To qualify, companies must be headquartered in the Asia-Pacific region, privately owned for-profit ventures, and have no more than $50 million (P2.8 billion) in annual revenue and no more than $100 million (P5.6 billion) in total funding through Aug. 15.
Forbes said it also weighed on factors like impact on and contribution to their industry and region, market fit, promising business model, innovation, track record of consistent revenue growth, and the ability to attract funding.
Last year, the Filipino companies that made it to the “100 to Watch” list were Lista (finance), Mober (construction and logistics), and Zed (finance).
