Three Philippine startups make Forbes Asia's '100 To Watch' list

Three Philippine startups—Enstack, Netbank, Inc., and Xpress Super App—have been recognized by Forbes Asia's '100 To Watch' list for 2025, which honors emerging small businesses in the Asia-Pacific region.

Enstack, an e-commerce and retail platform founded in 2021, was acknowledged for its AI-assisted app that helps small and mid-sized businesses manage their online presence and operations. The company recently expanded to Thailand and has raised $3 million in funding from various backers.

Netbank, a financial technology company established in 2019, made the list due to its profitable performance in the first half of 2025 with a P22.2-million net profit and its client base including TikTok, Lazada, and Smart Money.

Xpress Super App, which provides ride-hailing, food delivery, and courier services, was included on the list for its green initiatives and expansion plans. The company launched 40 BYD electric and hybrid vehicles in May and is planning further digital service enhancements.

To qualify for the '100 To Watch' list, companies must be based in the Asia-Pacific region, have annual revenue of no more than $50 million, and total funding of up to $100 million.