Malaysian E-Commerce Startup Borong Leads Asia-Pacific’s Fastest-Growing Companies Ranking

A Malaysian e-commerce technology platform has claimed the top spot in Asia-Pacific’s most closely watched corporate growth ranking, as the region’s startup ecosystem continues to defy a challenging global economic backdrop.

Key takeaways

• Borong of Malaysia leads 500 Asia-Pacific high-growth companies with a staggering 295 per cent compound annual growth rate between 2021 and 2024.
• Singapore and India top the ranking by volume with 101 companies each, while Chinese firms make their first-ever appearance in the index.
• IT and software dominate for the fourth straight year at 21.4 per cent of the list, confirming technology as the region’s primary engine of corporate growth.

Borong, a business-to-business e-commerce platform headquartered in Kuala Lumpur, clinched first place in the Financial Times/Statista High-Growth Companies Asia-Pacific 2026 ranking, rising from second position the previous year. 

The company recorded revenues of $99.7 million, translating into a compound annual growth rate of 295 per cent over the three years to 2024, a figure that underscores the explosive appetite for digital commerce infrastructure across Southeast Asia.

The eighth edition of the annual ranking lists the 500 fastest-growing companies across the Asia-Pacific region, measured by organic revenue growth between 2021 and 2024. This year’s edition carries a notable milestone: Chinese companies appear in the ranking for the first time, expanding both the competitive field and the geographic scope of one of the region’s most prestigious business benchmarks.

South Korea Claims Two Podium Places

Borong’s ascent to the summit comes as South Korea cements its reputation as a breeding ground for high-growth technology ventures. Two Korean companies claimed the second and third positions respectively: Bznav, a tax software firm, and InPock, an e-commerce technology platform, reflecting Seoul’s growing influence in the digital services economy.

India and Singapore Dominate by Volume

When measured by the number of entrants, Singapore and India each contributed 101 companies to the ranking, more than any other market, highlighting the twin engines of the region’s innovation ecosystem. Japan followed with 82 companies, and South Korea placed fourth with 79.

The breadth of representation signals a maturing startup culture across diverse economies, from the technology hubs of Bangalore and Singapore’s financial district to the manufacturing corridors of Japan.

Technology Retains Its Iron Grip

For the fourth consecutive year, IT and software companies dominated the sectoral composition of the list, accounting for 21.4 per cent of all ranked firms. Fintech, financial services and insurance followed at 9.6 per cent, while healthcare and life sciences took 5.6 per cent, a share that reflects sustained post-pandemic investment in medical technology and digital health.

The persistence of IT and software at the top of the table points to a structural shift in how Asia-Pacific economies are generating value: less through manufacturing and commodities, and increasingly through scalable, asset-light technology platforms.

The Bar Is Rising

Entry into the ranking has become incrementally harder. The minimum compound annual growth rate required to qualify rose to 8.4 per cent this year, edging up from 8.1 per cent in the prior edition, a modest but telling signal that the pool of high-performing applicants is deepening.

The ranking is drawn from companies that voluntarily submitted and certified their revenue figures, signed off by a chief financial officer, chief executive or member of the executive committee, during an application window that ran from July to December 2025.

Methodology and Limitations

The ranking was compiled in partnership with Statista, which canvassed tens of thousands of companies across 14 Asia-Pacific territories, including Australia, China, Hong Kong, India, Indonesia, Japan, Malaysia, New Zealand, the Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam. Companies were required to have generated at least $100,000 in revenue in 2021 and at least $1 million by 2024, with growth driven primarily by organic means.

As with any voluntary ranking, the list does not claim to be exhaustive. Many of the region’s fastest-growing businesses remain privately held and decline to disclose financial data, meaning the true universe of high-growth companies is almost certainly larger than the 500 featured.

A special report accompanying the ranking is scheduled for publication on April 10, spotlighting some of the fastest-growing sectors shaping the region’s economic future.

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