Foxmont’s portfolio features various e-commerce businesses like Etaily, Edamama and Prosperna. With the International Trade Commission forecasting sales to hit US$24 billion by 2025, what trends or factors do you anticipate will propel the sector’s growth in the next few years, and what role do you think mergers and acquisitions will play in this expansion?
The Philippines’ young population, growing middle class and rapid digitization are driving the e-commerce boom.
*You can refer to our venture capital report for data on the Philippine population, economic growth and digitalization, as well as how we compare to the region.
In the Philippines alone, investment in the PE/VC space surged from US$220 million in 2014 to over US$1.3 billion in 2024—a remarkable 491% increase in just ten years. The Philippines now ranks as a close second to Indonesia in Southeast Asia’s deal value breakdown, climbing from just 2% in 2020 to an impressive 19% in 2024.
This influx of investment into the Philippine startup ecosystem drives growth and success, fostering the development of more mature and robust e-commerce businesses. For acquirers, this means access to a pool of solid, well-established companies, providing an effective gateway to tap into the country’s online consumers—opportunities that were previously unavailable with traditional brick-and-mortar businesses.
