Ecommerce Startup Etaily Tops 2025 List of High-Growth Companies in the Philippines
Ecommerce-enabling startup Etaily has been named the top high-growth company in the Philippines by business publication The Financial Times. The Philippines-based startup ranked third overall in the publication’s list of high-growth companies in the Asia Pacific region.
Produced in association with Statista, the Financial Times’ list of high-growth companies is based on revenue growth between 2020 and 2023 and includes both listed and private companies across Asia Pacific that applied and shared their data.
Within the inclusive years, Etaily recorded a massive absolute growth rate of 13,086 percent and a CAGR of 408.99 percent. From revenues of just $22 million in 2020, he company reported revenues of $29.03 billion in 2023. Founded in 2017, Etaily currently has around 121 employees and, in 2024, announced its expansion into Singapore.
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In an email to “friends and family,” Etaily CEO and co-founder Alexander Friedhoff said the honor is even more remarkable because it comes in the same week the company secured its ISO certification for the third consecutive year.
Friedhoff also paid tribute to his Etaily colleagues COO Tatiana Cziomer, chief commercial officer Titi Wong and chief growth officer Lester Cuneta.
“I often highlight (with a touch of self-irony) that GMV is vanity and revenue is fantasy, what truly matters is cash flow and profitability,” Friedhoff said. “This achievement is undeniably worth celebrating.
“Scaling at hyper-growth speed while maintaining operational excellence, efficiency, and compliance is a rare feat,” he added. “ISO certification is a testament to our commitment to quality, reliability, and robust processes, ensuring that our growth is not just fast, but sustainable and scalable! This is just the beginning.”
Etaily is a company that helps companies grow their businesses by providing end-to-end services in technology, operations, brand, and data capabilities. Founded in 2020, it has since evolved as one of the go-to partners for digital commerce solutions for many big brands, including Levi’s, Crocs, Fila, Skechers, and L’Oreal, among others.
“Proud of what we’ve built together,” Friedhoff said about the being named in the FT list. “Here’s to pushing even further!”
Topping the FT list of high-growth companies across Asia Pacific is India’s peer-to-peer lender Lendbox, with an absolute growth rate of 25,703.14 percent, followed by Malaysia’s ecommerce platform Borong at 18,06 percent.
Also making it to the top 10 in the rankings are Library Company and Habitfactory from South Korea, Blusmart, Bighaat, Zypp Electric from India, and MyVenue from Australia.
Other Philippine companies that made it to the list of 500 companies are Guerilla 360, Cloudeats, Greatwork, Wela School Systems, MyBusybee, Booth & Partners. Eco Global Consulting, IGlobal Financial Systems, Teravera, Fruitas Holdings, Sysgen Rpo, eBiZolution, Sprout Solutions, Shakey’s Pizza Asia Ventures, Firs Philec, Outsourced, CIIT College of Arts and Technology, Zendease, Ab Surveying and Development, Phinma, First Circle, Sta Lucia Land, Pryce, Philinsure, PGA Sompo Insurance, Metro Pacific, BDO, Mustard Seed, Autokid Truck Solutions, PT&T, Unicapital Group, and Robinsons Retail Holdings.
According to FT and Statista, to be included in the list of High-Growth Companies Asia-Pacific, a company had to have the following:
- revenue of at least $100,000 generated in 2020;
- revenue of at least $1 million generated in 2023;
- the company is independent (the company is not a subsidiary or branch office of any kind), the company is headquartered in one of 13 territories in the Asia-Pacific region: Australia, Hong Kong, India, Indonesia, Japan, Malaysia, New Zealand, Philippines, Singapore, South Korea, Taiwan, Thailand or Vietnam;
- the revenue growth between 2020 and 2023 was primarily organic (ie “internally” stimulated).
