Since the early 2000s, the Philippine startup ecosystem has grown by leaps and bounds. In 2023 alone, startups in the Philippines raised $960 million across 96 deals, according to the 2024 Global Startup Ecosystem Report.

Among the key factors contributing to the Philippines’ rise as a startup hub include its expanding financial technology (fintech) and e-commerce sectors, and improved government support.

What impressed us with these homegrown PH startups

Like the ecosystem they’re a part of, the startups in this list are fairly young but brimming with promising potential. These companies are barely over five years old, but they’ve already attracted millions of dollars in investments and demonstrated significant market demand for their products/services. 

Notably, many of these startups also reflect larger societal changes that are being felt around the world — from greater concern for the planet to creating better solutions for traditionally underserved populations. 

Now without further ado, let’s dive into the list. 

1. Etaily

Founded in 2020, Etaily provides comprehensive e-commerce solutions for various retail brands. As of 2023, they have processed approximately 10 million e-commerce orders, working with the likes of Zalora, BeautyMnl, Global Fashion Group, and even Instagram. 

Etaily’s software solutions cover functionalities such as analytics, content management, and order management. They also have managed services for brand and creative production, customer relationship management, influencer marketing management, and market and customer profiling.

Etaily has raised ₱302 million in seed funding, as well as $US 17.8 million in its Series A round.

💡Looking for startup financing? Explore government grants 

If you didn’t know already, you can seek grant funding from Philippine government agencies such as the Department of Science and Technology (DOST), Department of Trade and Industry (DTI), and Department of Information and Communications Technology. 

For instance, from 2021 to 2022 alone, DOST has awarded a total of PHP 183 million to 49 startups from 2021 to 2022.

One of the basic requirements to apply for a grant is business registration with either DTI or the Securities Exchange Commission. 

Loft can help you process business registration requirements so you can focus on growing your startup. Contact us by phone (63) 917 899 1111 or via email to get started. You can also complete this short contact form.

2. Expedock

Expedock uses artificial intelligence (AI) to address the time-consuming process of manual invoice entry and auditing. Specifically, the startup’s logistics solution automates the extraction of data from accounts statements and the creation of payable invoices.

The accuracy of its automated output is also a big selling point. Expedock offers a money-back guarantee if their platform’s payable invoices do not have an accuracy of at least 99.97%.

From its founding in 2019 to 2021, the company has grown by a whopping 1,200%. Expedock has raised $US 13.5 million in its Series A round in August 2022.

3. Humble Sustainability

Founded in 2021, Humble Sustainability restores and reuses old gadgets and IT equipment. 

With a business-to-business (B2B) business model, they source used (yet still in good condition) electronics from various companies and help supply their reseller partners. 

The startup also helps its approximately 72 B2B clients keep track of key data on their climate change mitigation initiatives. As of 2023, Humble Sustainability says it has diverted 250 kilos of e-waste from landfills — the equivalent of 116,000 laptops. 

Humble Sustainability raised $US 750,000 in seed funding in 2022. 

4. Kindred

Touting itself as a provider of “women-first, women-centric comprehensive health care,” Kindred started in 2021 with telehealth and virtual clinic services. It launched its first in-person clinic in 2023 and has served 20,000 clients by the first half of 2024. 

Kindred has over 70 doctors across 25 specialties. Kindred’s website also advertises treatment plans on fertility & reproductive endocrinology, mental health, nutrition, and dermatology.

The startup has raised $US 1 million in seed funding in 2023, and $US 5.5 million in a Pre-Series A round.

5. Locad

Locad describes its platform as an “end-to-end logistics solution” for e-commerce. Locad helps brands scale their logistics infrastructure through technology in the Philippines, Singapore, Thailand, Hong Kong, and Australia. As of 2023, the startup works with about 200 brands

Locad’s digital solution also has analytics capabilities, which helps clients improve their order fulfillment and inventory management strategies. It’s also an open platform, meaning it can be linked with any e-commerce sales channel — for faster delivery processing. 

Locad has raised $US 4.9 million in seed funding and an additional USD 11 million in a Series A round.

6. Mayani

Founded in 2019, Mayani is an agritech startup focused on uplifting Filipino farmers. The company uses timely supply and demand data to help farmers distribute their products.

Mayani’s partner farmers report a 20% reduction in food spoilage and better farmgate prices.

The startup also reduces food waste by marketing crops that do not pass stringent supermarket standards but are perfectly safe to eat. As of 2023, they have delivered 6.5 tons of such vegetables to their 11,000-strong B2C network.

Mayani raised $US 1.7 million in seed funding in January 2023.

7. Mediclick

Founded in 2020, Mediclick is essentially an e-pharmacy focused on providing key medical services for people with chronic health conditions. Their subscription model offers discounts for those who need easy access to certain medicines.

Mediclick also offers a hassle-free online ordering experience and same-day deliveries, as well as telemedicine and virtual consultation services.The startup is planning to further expand its partnerships with doctors, telemedicine providers, clinics, and manufacturers.

Mediclick raised $US 300,000 in pre-seed funding in 2024. It will go towards enabling round-the-clock services within Metro Manila. 

8. Peddlr.io

Founded in 2021, Peddlr.io’s digital platform is advertised as a “one-shop” for small businesses. 

At the center is a free mobile-optimized point-of-sale (POS) system along with other easy-to-use features for online selling and additional revenue streams. From 2021 to 2022 alone, they registered 350,000 downloads of their app.

Aside from standard POS functionalities, Peddlr.io also has tools to enable users to easily sell products online. Additionally, there’s also a feature for selling “e-load” and accepting bills payments.

Peddlr.io has secured USD 4.3 million in seed funding in February 2022. 

9. Twala

Founded in 2020, Twala allows you to sign legally binding documents using a laptop or a smartphone. Through a dedicated app, Twala aims to reduce contract signing time from 14 days to two hours. 

As part of its effort to comply with local regulations such as the Data Privacy Act and the Supreme Court’s Rules on Electronic Evidence, Twala uses blockchain technology to keep all of its data secure and confidential.

On its website, Twala lists 200 firms as partners, including government agencies such as the Senate and the Anti-Red Tape Authority. 

Twala has received a ₱4.6 million grant from the DOST and a ₱1 million grant from the IdeaSpace Foundation.

10. Toki

Founded in 2023, Toki describes itself as “the Philippines’ first collectible-focused social commerce platform.” 

The company aims to ease the pain points of buying and selling collectibles like LEGO sets, sneakers, and sports cards. Toki has a network of approximately 20,000 buyers and sellers.

With a system for verifying every seller and every item in just one platform, Toki eliminates the need for using multiple apps. To mitigate scammers and wrong deliveries, the platform holds payments in escrow until items are confirmed to be delivered successfully.

Toki has raised $US 1.8 million in pre-seed funding in 2023.

Is your startup next on this list?

Are you working on your own startup? Loft can help you get registered with relevant government agencies in the Philippines. Check out our startup packages to find the business registration service that fits your needs. 

And if you already have an up-and-running business, Loft can provide bookkeeping, tax compliance and essential corporate compliance services to help you with annual filings. 

Give us a call at (63) 917 899 1111 or email us to get a free business consultation. You can also reach out to our team using the contact form below.

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