The Philippines has emerged as one of Southeast Asia’s most dynamic and rapidly evolving startup ecosystems, driven by a unique blend of innovation, entrepreneurial spirit, and a growing digital economy.
With a population of 115 million, increasing internet penetration and the rising middle class have created fertile ground for startups across various sectors, from fintech and e-commerce to edtech and healthtech.
In 2022, local startups raised US$1.1 billion, exceeding the US$1.03 billion raised in 2021.
Fintech has been at the forefront of the Philippine startup ecosystem. E-commerce, edutech, and healthtech have grown significantly in recent years.
While the Philippine startup ecosystem is thriving, it faces challenges such as limited access to funding, regulatory hurdles, and the need for more robust infrastructure. However, these challenges are being addressed through increased government support, the rise of local venture capital firms, and the growing interest of international investors in the region.
Having said that, the future of the Philippines looks promising, with an increasing number of Filipino startups gaining traction.
Also Read: Forget the rest: This is why you should build your startup in the Philippines
We have compiled a list of the Philippines’s most exciting startups that have made their mark in their respective industries.
Kumu
A global livestreaming app made by Filipinos for Filipinos and Filipinos-at-heart.
The platform allows users to connect with fellow Filipinos around the world and watch live shows, post updates, and earn money. It also offers features like personal and group chat, games, and more. Users can also participate in quizzes, live shows, and more.
Founding year: 2107
Total funding raised: US$100 million
Investors: General Atlantic, Openspace Ventures, SIG Venture Capital, Foxmont Capital Partners, Kickstart Ventures, Summit Media, Gentree, Endeavor, Core Capital,
ABS-CBN Corporation, 10 Square Capital, Manila Angel Investors Network, Two Culture Capital, RISE, Gobi Partners, Flowing Ventures, and Communitas Founders.
PDAX
An online exchange platform for cryptocurrencies. It allows users to buy, sell, and manage cryptocurrencies and utility tokens. Supports Bitcoin, Ethereum, Ripple, Bitcoin Cash, and Litecoin.
Founding year: 2017
Total funding raised: US$62.5 million
Investors: Tiger Global Management, Kingsway Capital, Jump Capital, Draper Dragon, Oak Drive Ventures, Ripple, DG Daiwa Ventures, Beenext, Cadenza, Ubx Fund, BC Group,
CMT Digital, BitMEX, ConsenSys Ventures, Unifier Ventures.
Inteluck
It provides web-based software solutions for the logistics industry. Its products include fleet tracking, vehicle management, and ePOD systems. Its clientele includes 2GO SCVASI, ASTIR Engineering Works, ISUZU, and Royal Cargo among others.
Founding year: 2014
Total funding raised: US$56 million
Investors: Navegar, East Ventures, CREO Capital Partners, Headline, Mindworks Capital, Lalamove, Future Capital.
Edamama
A platform offering mom and baby products. Its offerings include garden kits, travel accessories, diapers & wipes, safety products, breastfeeding accessories, bathing & grooming, and learning products.
Founding year: 2019
Total funding raised: US$35 million
Investors: Kickstart Ventures, AC Ventures, Gentree, Innoven Capital, GS Group, Alpha JWC Ventures, Robinsons, Foxmont Capital Partners, Communitas Founders.
MoneyMax
It develops an online comparison platform. It offers solutions for credit cards, insurance, loans, and broadband plans. It is also a financial news aggregator and provides a consumer user guide to using different financial services.
Also Read: Are traditional conglomerates in the Philippines finally embracing corporate investing?
Founding year: 2013
Total funding raised: US$50 million =
Investors: IFC, Alibaba Group, SBI Group, Goldman Sachs, Nova Founders Capital, acecompany-inc.com.
Salmon
It develops a platform offering business and consumer loans. The platform enables customers to access financial products from partners registered with the Securities and Exchange Commission (SEC) in the Philippines.
Founding year: 2022
Total funding raised: US$25 million
Investors: IFC, Northstar Group, Argentem Creek Partners, TNB Aura, DisruptAD.
Great Deals E-commerce
A provider of suite solutions for brands. Its service includes storefront management, marketplace management, content & production management, digital marketing, analytics & insights, customer support, warehouse & fulfillment, and order & inventory management.
Founding year: 2017
Total funding raised: US$42 million
Investors: CVC, Navegar, Fast Logistics.
First Circle
An online platform for trade financing. It offers loans such as invoice financing, and purchase order financing. Borrowers can register via audited financial statements, proof of sales, and bank statements, along with invoices & purchase orders. It purchases the invoice on the client’s behalf. Funds are transferred to the registered bank account.
Founding year: 2016
Total funding raised: US$37.1 million
Investors: IFC, Venturra Capital, Insignia Ventures Partners, tryb, Silverhorn, Accion, DeepBlue Ventures, Key Capital Partners, Spiral Ventures, 500 Durians, Bangkok Bank InnoHub, Inclusive Fintech 50, Alter.
SariSuki
An online platform offering multi-category grocery supplies. It provides local communities offering fresh groceries through the Ka-Sari community. It offers fruits & vegetables, sweets & snacks, dairy products, and meat & seafood. The SariSuki app allows Ka-Sari community leaders to create and manage personal stores offering SariSuki products for sale. The company offers mobile applications for Android and iOS platforms.
Founding year: 2020
Total funding raised: US$24.8 million
Investors: Kickstart Ventures, Openspace Ventures, SIG, JG Digital Equity Ventures, Global Founders Capital, Saison Capital, Foxmont Capital Partners, SIG Venture Capital, Alter.
Sprout
A cloud-based platform for human resource management systems. The platform offers tools for managing onboarding, recruitment, payroll, training, employees, and performance. It allows users to manage attendance and time. It also enables employee engagement.
Also Read: Why I left a budding career in the US to help aspiring developers in the Philippines
Founding year: 2015
Total funding raised: US$18.5 million
Investors: Cercano Management, GSR Ventures, AFG, Integra Partners, Mynavi, ACA Investments, SBVA, Point72 Ventures, Kickstart Ventures, Wavemaker Partners, Beenext, Endeavor, Dymon Asia Capital, Next Billion Ventures, Acceleprise, Right Side Capital Management, ACA Investments, Forum Ventures.
Revolution Precrafted
A designer and developer of pre-fabricated properties. It develops pre-fabricated homes, pavilions, modular hotels, amenity spaces, pop-ups, and furniture. It caters to enterprises and consumers.
Founding year: 2015
Total funding raised: US$15.4 million
Investors: K2 Global, 500 Durians
CloudEats
The Internet’s first restaurant offering food delivery, the company operates multiple cloud restaurant brands with proprietary cloud kitchen technology. Its offerings include burgers, chicken wings, rolls, meal bowls, and more.
Founding year: 2019
Total funding raised: US$14 million
Investors: Nordstar, Gobi Partners, BAce Capital, Vulpes Ventures, interainvestmentslimited.vdtrxn, gmavntures.vdtrxn, Core Capital, Pc3n Ventures.
Mober
A provider of electric fleet-based last-mile delivery services, the platform offers technology-driven logistics services with shipping, AI-optimized route planning, booking solutions, and more. It provides a tracking feature that allows users to track and monitor the delivery progress in real time.
Founding year: 2016
Total funding raised: US$10 million
Investors: Clime Capital Management, Rtheptagonholdings, 2GO Group, Index Partners.
Kalibrr
An online job-matching platform provider. Candidates can make their online profile which contains their contacts and other employment details. Companies can search for candidates either by posting their own JD for free or through the candidate database. It charges the companies for the candidates they select from the database.
Founding year: 2012
Total funding raised: US$9.6 million
Investors: Y Combinator, Kickstart Ventures, Omidyar Network, Learn Capital, Siemer & Associates, FundersClub, Unreasonable, Wavemaker Partners, Future Now Ventures,
Eudaimonia Capital, Spiral Ventures, Patamar Capital, SAGANA, FCVC, Cento Ventures, Flowing Ventures.
Lifetrack
An intuitive software platform for the entire healthcare ecosystem. It has developed software that assists with imaging and medical documentation. The patent-pending platform offers templates for creating reports and an integrated decision support library that aids in the training, education, and skills improvement of Radiologists.
Also Read: Why it is important for tech companies to expand outside metro cities in the Philippines
Founding year: 2012
Total funding raised: US$5.2 million
Investors: UOB, Kickstart Ventures, Philips, Plug and Play APAC
Plentina
Plentina provides an online platform for purchase financing. It enables customers to make installment payments for in-store products. It also provides alternative credit scores using machine learning algorithms.
Founding year: 2019
Total funding raised: US$5.2 million
Investors: TMV, Global Founders Capital, Techstars, Unpopular Ventures, ACDI, JG Digital Equity Ventures, Amino Capital, Ignite Impact Fund, Western Union, Emergent Ventures, 500 Global, Vaidya Capital Partners, Flexcap Ventures Management,
Upscale Ventures, Tess Ventures, Clearsign Capital.
FlySpaces
Flyspaces is an “Airbnb for office and retail spaces”. The company is building a network of offices, meeting rooms, and commercial spaces that businesses and entrepreneurs can lease for short periods or whenever they need them.
Founding year: 2015
Total funding raised: US$2.6 million
Investors: Future Now Ventures, COENT Venture Partners, Narra Venture Capital, Rubina Real Estate, Reapra, Oak Drive Ventures.
PawnHero
PawnHero is an online platform for pawn loans. It enables users to access loans on the basis of approved collaterals. Users can collateralize products such as luxury watches, smartphones, jewelry, and designer bags. It provides a cash card for withdrawing the loan amount from ATMs.
Founding year: 2014
Total funding raised: US$9.7 million
Investors: Spiral Ventures, 500 Durians, Hatchd Digital, Softbank China and India Holdings.
GrowSari
An online B2B marketplace offering products and services. It uses marketplace technology to connect stores to the companies and allows owners to add products such as rice, fruits, vegetables, flour, sugar, and beverages.
Also Read: Growsari lands US$5M to empower 1.3M sari-sari store owners in Philippines
Founding year: 2016
Total funding raised: US$110 million
Investors: opp-gen.com, IFC, KKR, Pavilion Capital Partners, Saison Capital, ICCP SBI Venture Partners, Tencent, Wavemaker Partners, Robinsons, JG Digital Equity Ventures,
JG Summit Holdings, Endeavor, Hatchd Digital, NOMD.
TOKI
Toki is a social commerce platform designed for collectors. It offers a new collectible trading experience, allowing collectors to buy and sell items in one place. Toki aims to simplify transactions and provide a seamless platform for collectors to connect and engage with each other.
Founding year: 2023
Total funding raised: US$1.8 million
Investors: Kaya Founders and Foxmont Capital Partners