Manila, Philippines — The Philippines is making its mark on Asia’s entrepreneurial stage as three homegrown startups earn a coveted spot on Forbes Asia’s 2025 “100 To Watch” list. The recognition highlights Enstack, Netbank, and Xpress Super App, underscoring their contributions to AI, fintech, and sustainable technology in a competitive regional landscape.
Now in its fifth year, the Forbes Asia list spotlights promising startups across sectors from biotech and spacetech to green tech and robotics. Rana Wehbe Watson, editorial director of Forbes Asia, emphasized that the companies featured are deploying advanced technologies to reshape industries, describing them as “pioneers with the vision to transform how Asia innovates.”
Enstack, founded in 2021 by Macy Castillo, is empowering small and medium-sized enterprises to thrive online. Its AI-assisted platform enables businesses to design stores, logos, and product blurbs while also managing invoices and payments. With 100,000 downloads and recent expansion into Thailand, Enstack has raised $3 million to date, driven by Castillo’s prior leadership roles at Shopee and Zalora.
Netbank, launched in 2019 under CEO Gus Poston, is reinventing digital banking for the underserved. Operating through a rural bank acquisition, it delivers loans, payments, and disbursement solutions to major clients including TikTok, Lazada, and Smart Money. With backing from investors like Beenext and Kaya Founders, Netbank posted a ₱22.2 million ($390,000) profit in the first half of this year, reversing prior losses on the strength of loan growth and deposits.
Xpress Super App, introduced in 2022 by CEO Nathan Taylor with cofounder Jean Henri Lhuillier, is redefining mobility and logistics in the Philippines. Beyond ride-hailing and delivery, it is betting big on green mobility. In May, it deployed 40 BYD electric and hybrid vehicles, part of its plan to expand a sustainable fleet. The app, now with over 100,000 downloads, also enables drivers to secure financing for electric vehicle ownership, aligning business growth with environmental responsibility.
India led the Forbes Asia list with 18 startups, followed by Singapore and Japan with 14 each. Selection criteria included impact, innovation, growth, market fit, and the ability to attract investment.
For the Philippines, the inclusion of Enstack, Netbank, and Xpress Super App signals more than recognition—it represents a wave of entrepreneurial resilience and ambition. Their stories echo a broader narrative: that Filipino-led innovation can compete and thrive regionally, setting the stage for global opportunities in the years ahead.
