BUSINESS
Advocates Philippines
Three Philippine Startups Shine In Forbes Asia's Prestigious '100 To Watch' List
Photo credit: Forbes Asia
Three Filipino tech startups have earned a spot on Forbes Asia’s 2025 “100 to Watch”, a recognition that highlights some of the most promising and fast-rising small companies across the Asia-Pacific region. This year’s roster reflects not just innovation, but resilience in a startup ecosystem still navigating fluctuating funding trends.
Among the companies making the Philippines proud are Enstack, Netbank, and Xpress Super App—each carving out a niche in their respective industries while addressing critical needs in commerce, finance, and everyday services.
Enstack: Helping Small Businesses Go Digital
Launched in 2021 by former Shopee and Zalora Philippines executive Macy Castillo, Enstack is designed to empower small and midsized businesses to establish a strong online presence. Through its AI-assisted app, merchants can create web stores complete with logos, product blurbs, payment systems, and inventory management tools.
The platform has already been downloaded more than 100,000 times on Google Play and expanded operations to Thailand this year. With $3 million in funding from investors such as Xendit and Mangrove Capital Partners, Enstack is proving that digital transformation for small businesses is both accessible and scalable.
Netbank: A Digital Finance Pioneer
Founded in 2019, Netbank is taking a bold approach to financial services by operating through a rural bank it acquired the same year. Led by CEO Gus Poston, the company offers loan management, payments, and disbursements to fintech players and businesses in the Philippines.
Netbank’s client list includes heavyweights like Smart Money, TikTok, and Lazada. Its business model is also showing results: the company reported a net profit of ₱22.2 million ($390,000) in the first half of 2025, a remarkable turnaround from a ₱34.9 million loss during the same period last year.
Xpress Super App: Expanding Mobility and Services
Co-founded in 2022 by Jean Henri Lhuillier of the PJ Lhuillier Group and Nathan Taylor of AppFactorie, the Xpress Super App is building a one-stop platform for mobility and lifestyle needs. Beyond ride-hailing, deliveries, and courier services, the company plans to offer flight and ferry bookings, event reservations, and a digital payment feature.
Xpress is also positioning itself as a green transport advocate, recently deploying 40 BYD electric and hybrid vehicles for hire. With over 100,000 app downloads to date and financing options for drivers to own EVs, the company is rapidly expanding its ecosystem.
The Bigger Picture: Startups on the Rise in Asia-Pacific
Forbes Asia’s fifth annual “100 to Watch” shines a spotlight on startups navigating a highly dynamic environment. This year’s list features 100 companies from 16 countries and territories, collectively raising nearly $3 billion in funding to date.
Sectors such as biotechnology, green tech, and enterprise technology dominate the rankings, but the inclusion of Philippine startups shows how local innovation is gaining visibility on the global stage.
For Enstack, Netbank, and Xpress Super App, the recognition not only validates their business models but also underscores the Philippines’ growing presence in Asia’s innovation landscape.
Among the companies making the Philippines proud are Enstack, Netbank, and Xpress Super App—each carving out a niche in their respective industries while addressing critical needs in commerce, finance, and everyday services.
Enstack: Helping Small Businesses Go Digital
Launched in 2021 by former Shopee and Zalora Philippines executive Macy Castillo, Enstack is designed to empower small and midsized businesses to establish a strong online presence. Through its AI-assisted app, merchants can create web stores complete with logos, product blurbs, payment systems, and inventory management tools.
The platform has already been downloaded more than 100,000 times on Google Play and expanded operations to Thailand this year. With $3 million in funding from investors such as Xendit and Mangrove Capital Partners, Enstack is proving that digital transformation for small businesses is both accessible and scalable.
Netbank: A Digital Finance Pioneer
Founded in 2019, Netbank is taking a bold approach to financial services by operating through a rural bank it acquired the same year. Led by CEO Gus Poston, the company offers loan management, payments, and disbursements to fintech players and businesses in the Philippines.
Netbank’s client list includes heavyweights like Smart Money, TikTok, and Lazada. Its business model is also showing results: the company reported a net profit of ₱22.2 million ($390,000) in the first half of 2025, a remarkable turnaround from a ₱34.9 million loss during the same period last year.
Xpress Super App: Expanding Mobility and Services
Co-founded in 2022 by Jean Henri Lhuillier of the PJ Lhuillier Group and Nathan Taylor of AppFactorie, the Xpress Super App is building a one-stop platform for mobility and lifestyle needs. Beyond ride-hailing, deliveries, and courier services, the company plans to offer flight and ferry bookings, event reservations, and a digital payment feature.
Xpress is also positioning itself as a green transport advocate, recently deploying 40 BYD electric and hybrid vehicles for hire. With over 100,000 app downloads to date and financing options for drivers to own EVs, the company is rapidly expanding its ecosystem.
The Bigger Picture: Startups on the Rise in Asia-Pacific
Forbes Asia’s fifth annual “100 to Watch” shines a spotlight on startups navigating a highly dynamic environment. This year’s list features 100 companies from 16 countries and territories, collectively raising nearly $3 billion in funding to date.
Sectors such as biotechnology, green tech, and enterprise technology dominate the rankings, but the inclusion of Philippine startups shows how local innovation is gaining visibility on the global stage.
For Enstack, Netbank, and Xpress Super App, the recognition not only validates their business models but also underscores the Philippines’ growing presence in Asia’s innovation landscape.
Aug 26, 2025
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