Female founders, particularly those addressing unique female healthcare issues, face a significant funding hurdle. Male-dominated venture capital (VC) firms often struggle to relate to women’s health needs and recognise the vast market potential of solutions in the space.
Jessica de Mesa, a former nurse turned entrepreneur, has decided to take on this challenge head-on, along with her co-founder Abetina Valenzuela-Mader. The duo launched the femtech startup Kindred in the Philippines in 2021.
“I firmly believe that having a female founder/co-founder brings something special to the table—it’s about seeing things differently, especially in the male-dominated industries of tech and healthcare, where women’s voices haven’t always been front and centre,” says de Mesa in an interview for DealStreetAsia’s latest report on female founders in Southeast Asia.
Kindred, which de Mesa leads as its CEO, offers healthcare services such as vaccinations, monthly contraceptive subscriptions, consultations with psychologists and gynaecologists, and diagnostic examinations through a combination of offline and virtual clinics.
“Understanding firsthand some of the biases and challenges women face, especially in healthcare, having been on both sides – as a patient and as a nurse – and now coming full circle wearing a leadership hat in women’s health has made me more attuned to creating solutions that are empathetic and effective,” she says.
The DealStreetAsia report found that female-founded startups in Southeast Asia have increased their share of total funding in the region to 18.3% in 2023, up from 12.3% in the previous year. However, all-men founding teams still account for the majority of funding and close larger deals on average, per the report.
“The funding scene is slowly starting to get with the programme, but there’s a lot more work to be done to level out the playing field. It’s about getting the ecosystem to really see us and our ideas, without the gender lens and without thinking about their ESG reports,” quips de Mesa.
The full interview is below:
What prompted your journey into entrepreneurship?
Starting Kindred was all about making a real difference in women’s health. I saw firsthand how many health issues specific to women just weren’t getting the attention they deserved. It struck me that there’s this huge gap in the traditional healthcare sector, where women’s unique needs are often sidelined. So, my co-founder and I thought, why not dive in and shake things up? With Kindred, it’s not just about launching another startup – Kindred is a love letter to our younger selves and it’s about truly bridging that gap, making sure women everywhere have better access to healthcare that truly gets them.
It’s about empowering women with the information and services they need to take control of their health. That’s the dream that keeps me going.
To what extent has your experience as a female professional influenced the way your company is run?
Being a woman has really shaped how we run the company. It’s all about building a space where everyone feels included and heard, where diversity isn’t just a buzzword. Having extra days off like menstrual leaves, having a comprehensive sexual harassment policy, etc., are not just checklists for us but a real practice.
I’ve seen and experienced the challenges and biases women face, especially in tech and in healthcare, and it’s made me laser-focused on creating solutions that truly get what women need. My perspective as a woman also shapes our leadership approach, promoting diversity and ensuring that all voices are heard and valued, which I believe is essential for innovation and growth. This also flows into everything we do, from how we engage our employees and how we develop our services to how we make decisions. This influence extends to how we develop our roadmap, ensuring we address real needs from a wide array of women’s health experiences across life stages.
“I’ve seen and experienced the challenges and biases women face, especially in tech and in healthcare.”
Understanding firsthand some of the biases and challenges women face, especially in healthcare, having been on both sides—as a patient and as a nurse—and now coming full circle wearing a leadership hat in women’s health has made me more attuned to creating solutions that are empathetic and effective. At Kindred, we’re not just ticking boxes; we’ve been actively working to make healthcare more accessible and tailored for women since our inception. Empowering women has always been at the heart of our mission.
Can you share your insights on the fundraising process you went through?
I quickly learnt that being resilient and adaptable is key. Facing rejection is part of the game and is just another step towards getting the most important YES. What really made a difference was crafting a story that not just shared our mission but also showed we knew our stuff – from market potential to how we stand out.
Finding investors who get what you’re about is priceless! Building relationships and engaging with investors who share our passion for women’s health was crucial—even if they don’t end up participating yet, in my experience, it is super important to keep building those relations, and our next funding round is proof of this.
Our investors bring so much more to the table than just capital – they’ve been partners in our mission and have unlocked many other opportunities for us. So, it’s been tough but very rewarding!
Did you meet female investors during your fundraising efforts, and if so, did it impact your discussions?
Absolutely, meeting female investors was a game-changer for us. It was like they just got it – the need for better solutions in women’s health clicked with them instantly. Our chats were less like pitches and more like brainstorming sessions, really digging into the heart of what femtech could and should be.
Their insights were spot-on, making every conversation feel empowering and validating. It was clear they were not just about the investment; they were about making a real difference alongside us. It definitely added a layer of enthusiasm and understanding to the whole process.
“Meeting female investors was a game-changer for us.”
In your opinion, what are the benefits of having a female founder/co-founder?
Kindred’s leadership team consists of women – myself, my co-founder Abetina Valenzuela-Mader, and most of our board members/investors are women. We are a true representation of a women-led organisation. I firmly believe that having a female founder/co-founder brings something special to the table – it’s about seeing things differently, especially in the male-dominated industries of tech and healthcare, where women’s voices haven’t always been front and centre.
We bring a unique perspective that is critical in today’s diverse marketplace and a holistic approach to problem-solving. Having that female touch means we’re naturally tuned into fostering a company culture that’s all about empowerment and empathy. It’s not just about good vibes, though; it’s being smart about business and carving out a sustainable path for the company as we plan to be here in the long term for our patients.
Plus, it’s a chance to light the way for other women, showing them the ropes and that they, too, can lead and innovate. I am extremely thankful for my female mentors and advisors, who have paved the way for us.
What has been the most challenging aspect of your role as a co-founder?
The toughest part has been juggling the growth spikes/increase in demand while making sure everything we do still screams quality – NPS, overall patient satisfaction, and retention are some of our main KPIs and not just top line growth! As founder/CEO of the company, there’s also this tightrope walk between pushing the envelope for growth and keeping the soul of your company intact, not to mention making sure your team’s thriving and not just surviving. It’s a lot about continuously learning, being able to adapt and pivot, and keeping our north star in mind, especially in this fast-evolving tech landscape and the highly regulated healthcare industry in the Philippines.
Do you believe female founders face additional hurdles in raising capital during the current funding climate?
Female founders have a tougher mountain to climb when it comes to fundraising. It’s not just me saying this – fellow female founders in the Philippines (a small but tight-knit community!), and the stats can back it up. We’re out here hustling, but there’s this gap in funding that’s hard to ignore.
We need to have more systemic changes to truly level the playing field for female entrepreneurs. I’ve learned that a lot of it boils down to bias, fewer women in investor seats, and breaking into those tight-knit boys’ clubs. It’s crucial to recognise and address these disparities and foster an environment where innovative ideas can flourish regardless of the founder’s gender.
The funding scene is slowly starting to get with the program, but there’s a lot more work to be done to level out the playing field. It’s about getting the ecosystem to really see us and our ideas, without the gender lens and without thinking about their ESG reports!
Why do you think there’s a scarcity of women-led startups, and are there any unique factors in Southeast Asia contributing to this trend?
The lack of women-led startups isn’t just by chance but deep-rooted in things like not enough funding, mentorship, or networks that are accessible to women. Southeast Asia has its own twist on this, where traditional gender roles and a bit of the old-school mindset can make the startup journey even trickier for women. But, the tide is turning. With more spotlight on female entrepreneurship and support structures popping up, there’s a sense of hope.
“With more spotlight on female entrepreneurship, there’s a sense of hope.”
Southeast Asia is buzzing with potential, and as these barriers are starting to crumble we’re seeing more women stepping into entrepreneurship. SEA is also home to a dynamic startup ecosystem that’s beginning to recognize and address these gaps. Initiatives and support structures aimed at empowering women entrepreneurs, such as accelerator programs that I’ve joined myself, networking events tailored for women where Kindred are active participants, and increased advocacy for gender equity in business, are steps in the right direction.
What advice would you offer to aspiring female entrepreneurs?
To all the incredible women eyeing entrepreneurship, here’s my take: OWN IT. Own what makes you unique. Your perspective as a woman and your grit is powerful, especially in shaping your company. Don’t go through it alone – find your tribe, mentors, and a support network that lifts you. It’s no cakewalk, and there will be bumps along the way (and maybe more so for us!), but the most important thing is you keep pushing. And every time a woman founder succeeds, it’s a win for all of us, so hope you pay it forward!
