Three Filipino startups make waves on Forbes Asia’s ‘100 To Watch’ list — a list showcasing innovation in AI, fintech, and green tech with a combined total of nearly $3 billion in funding.

MANILA, Philippines – Three Filipino startups have made Forbes Asia’s “100 To Watch” list, which looks at some of the best young companies or startups in Asia. 

Now in its 5th annual edition, Rana Wehbe Watson, editorial director, Forbes Asia, said the list “showcases a range of innovative startups in fields including biotech, spacetech and green tech. They are utilizing advanced technologies like AI to enhance their products, which include gene-editing tools and propulsion systems for spacecraft.”

The startups have raised a combined total of nearly US$3 billion in funding to date. 

Among these are Filipino startups Enstack, Netbank, and Xpress Super App. 

Enstack was founded in 2021, and is led by Macy Castillo, designed to help SMEs build an online presence. Their products include an AI-assisted app that can be used for designing web stores, logos, and writing product blurbs. Castillo previously had experience with Shopee and Zalora Philippines. On the backend, the app also helps clients manage invoices and payments. The app currently has 100,000 downloads, and expanded into Thailand this year, raising $3 million in total funding since its founding. 

Founded in 2019 and led by CEO Gus Poston, Netbank provides digital financial services such as loan management, payments, and disbursements through a rural bank it acquired the same year. Its clients include Smart Money, TikTok, and Lazada. Backed by investors like Beenext and Kaya Founders, the company swung to a net profit of ₱22.2 million ($390,000) in the first half of this year, reversing a ₱34.9 million loss on the back of strong loan growth and rising deposits.

Launched in 2022 and headed by CEO Nathan Taylor, Xpress Super App offers ride-hailing, delivery, and courier services, with plans to expand into bookings and digital payments. Cofounded with PJ Lhuillier Group president Jean Henri Lhuillier, the platform introduced 40 BYD electric and hybrid vehicles in May and plans to grow its green fleet further. Its financing arm also enables drivers to access loans to own EVs. The app has surpassed 100,000 downloads on Google Play, while its companion driver app has over 10,000 installs.

India leads the list with 18 entries, followed by Singapore and Japan with 14 each. Biotechnology and healthcare companies make up the largest category with 18, while enterprise technology and robotics account for 16. To qualify, companies must be privately held, headquartered in the region, and have no more than $50 million in annual revenue and $100 million in total funding as of August 15. Selection was based on impact, market fit, innovation, growth, and ability to attract investment. – Rappler.com