This interview originally appeared in the DealStreetAsia DATA VANTAGE report Women Founders in SE Asia: 2024 Funding Review.
Despite the myriad challenges, women have played a key role in shaping and strengthening Southeast Asia’s startup ecosystem over the years. The momentum is building, and the future looks promising, according to Hao Diep, co-founder and CEO of Techcoop.
“The presence of women in startups is growing—as founders, investors, and executives. Female-focused funds, mentorship programmes, and accelerators are driving this shift,” Diep said in an interview for DealStreetAsia DATA VANTAGE’s latest report, Women Founders in SE Asia: 2024 Funding Review.
However, fundraising is still a significant hurdle for women founders in the region. According to the report, startups founded solely by women accounted for just 5.2% of total deal volume. In contrast, all-male-founded startups dominated with a 71.4% share, underscoring the persistent funding gap.
Diep is confident that more women are securing leadership roles and funding, creating stronger networks and pushing for inclusive investing. “The funding landscape is evolving. More investors are recognising that diverse leadership drives stronger performance, and we’re seeing a rise in female-focused funds, impact investors, and government-backed initiatives.”
The Vietnam-based agritech platform successfully closed a $70-million Series A funding round last month, defying the headwinds faced by regional startups, specifically agritech. This could potentially mark the largest Series A investment for a Southeast Asian agritech startup to date.
Techcoop’s fundraising journey also presented its own challenges. Diep highlighted that the main challenge was selecting the right investors and ensuring all due diligence was completed on time. However, Techcoop’s profitability and confidence in execution allowed them to secure partnerships with the right investors on the company’s terms.
Excerpts from the interview with Diep:
What inspired you to start your company?
The idea to build Techcoop (agri fintech for MSMEs/farmers) formed by Q2 2018 when I was exposed to the agriculture industry for one year and started to understand the opportunities and challenges of the industry. The business was launched by Q1 2021 when Tuan and I successfully completed digitalisation for the first agri factory. We built a SAAS business in partnership with the founders of a notable listed agri business, focusing on providing digital services for all Nafoods group suppliers and partners.
After we digitised 10 factories/big farms, we realised the challenges of scalability of ERP SAAS business and shifted focus to credit solutions, addressing the most prominent pain points of agriculture MSMEs. This led to the incorporation of Techcoop in August 2022, and the credit leg officially launched in April 2023.
What have been the most challenging aspects you’ve faced as an entrepreneur, and how did you overcome them?
Building TechCoop from scratch was a challenge but also an incredible journey. Winning trust in a traditional industry took time—many agribusinesses hesitated to embrace tech. By listening, innovating, and proving real value, we turned scepticism into excitement.
Have you observed an increasing presence of women in the startup ecosystem, whether as founders, investors, or executives?
Yes, the presence of women in startups is growing—as founders, investors, and executives. Female-focused funds, mentorship programmes, and accelerators are driving this shift. While challenges remain, more women are securing leadership roles and funding, creating stronger networks and pushing for inclusive investing. The momentum is building, and the future looks promising.
Do you believe female founders face additional hurdles in raising capital during the current funding climate?
The funding landscape is evolving. More investors are recognising that diverse leadership drives stronger performance, and we’re seeing a rise in female-focused funds, impact investors, and government-backed initiatives. The key is to build strong networks, showcase real traction early, and align with investors who value innovation over outdated biases.
“By focusing on data, impact, and a clear growth strategy, female founders can turn challenges into opportunities and attract the right backers”
Techcoop recently secured $70 million in Series A, potentially marking the largest Series A investment for a Southeast Asian agritech startup to date. Can you share your insights on the fundraising process you went through? What were the key challenges in securing capital from investors?
Securing our Series A was a major milestone, and we’re grateful for the trust and support from our investors. Our focus was on finding the right partners—those who believed in our vision and could add strategic value. One of the biggest challenges was balancing strong investor interest while ensuring we built the right long-term partnerships. Some discussions involved differing perspectives on valuation, but our focus was always on creating a win-win outcome. By aligning on shared goals, we were able to form partnerships that will drive sustainable growth for both Techcoop and our investors. Being profitable and growing steadily allowed us to be patient and selective. More than just securing capital, this round validates our mission to transform agritech in Southeast Asia, and we’re excited to put these resources to work
How do you manage cash flow to balance between growth and profitability in the current economic climate?
(1) Disciplined Execution & Risk Management – Optimise financial planning, working capital, and receivables/payables to maintain liquidity, (2) Revenue Growth via Value-Added Services – Expand business matching and export facilitation to drive customer success and recurring revenue, and (3) Scalable Platform Development – Build a strong agribusiness network with monetisation through subscriptions, transaction fees, and embedded finance.
As Techcoop plans to expand its export capabilities to international markets, how do you prioritise your strategies and leverage technology to optimise supply-chain efficiency?
The company has achieved $130 million in annualised revenue in 2024, with projections reaching $250 million by 2025 and $400 million by 2026. By then, exports are expected to incrementally account for up to 30% of total revenue. To support this growth, we have implemented a series of strategic actions and initiatives.
(1) Strategic Partnership: forming a strong partnership with export processors who aspire to grow export revenue sustainably and focused products: Cashew nuts, coffee, coconut, cassava and high-demand fruit products with strong international market potential and growing demand.
(2) Supply Chain Digitalisation: Utilising AgriERP to optimise supply chain operations and Customer-driven applications where we connect local suppliers with international buyers, streamlining transactions and market access.
(3) Risk Management Enhancement: Strengthening KYC & underwriting, enhancing credit scoring, and integrating new ESG/IFC data points to ensure financial sustainability. For global buyer: Know-Your-Partners (KYP), payment processing, traceability and quality control for seamless exports.
To what extent has your experience as a female founder influenced both your leadership style and approach to running your company?
As a female founder, my leadership style has been shaped by resilience, empathy, and a collaborative mindset. In an industry traditionally dominated by men, I’ve had to prove credibility, navigate scepticism, and push for innovation while ensuring my voice— and the voices of my team—are heard. This experience has made me a more inclusive and people-focused leader, prioritising strong relationships, transparent communication, and long-term partnerships over short-term wins. It also reinforced the importance of mentorship and empowerment, especially for other women in agritech, creating a culture where diverse perspectives drive real impact.
What advice would you give to aspiring female entrepreneurs looking to start a business or startup in Southeast Asia today?
Believe in your vision and own your expertise. In Southeast Asia’s fast-growing market, opportunities are everywhere, but so are challenges—especially for female founders. Build strong networks—connect with mentors, join founder communities, and seek out female-focused investors. Prove traction early with real market demand and customer validation. Most importantly, be resilient—push past biases, stay adaptable, and don’t be afraid to take up space. The region is evolving, and now is the time for women to lead in business.
